Data on Wednesday may have shown stronger than expected economic growth of 0.6% in 2Q, but surveys released today show falls in retail sales, job cuts and weakening construction workloads.
Chancellor Philip Hammond indicated after yesterday’s growth figures that a slowdown was likely, and said the Bank of England and the government would act as necessary to support the economy.
The BoE is expected to take various steps at its meeting in August, potentially including a cut in interest rates.
