“Tentative green shoots” is how Ruth Gregory, deputy chief UK economist at Capital Economics, summed up a deluge of data earlier Friday that showed retail sales rising and strong growth in living standards. RSM UK economist Thomas Pugh agrees.
UK Prime Minister Keir Starmer came to power last year promising a growth boost but ended up presiding over a slump. Nine months on, however, the British economy may finally be turning the corner.
A range of economic indicators are starting to improve, from business activity to consumer confidence, and the prospect of two more interest-rate cuts this year promises a further tailwind. The big hope is that the all-important consumer will emerge from hibernation.
