The UK economy outperformed expectations for the month of May when an additional public holiday connected with the King's Coronation had less of a negative impact than many envisaged though was still enough to leave output little changed for the second quarter at the midway milestone.
Rising financial market expectations for interest rates and other circumstances almost unique to the UK are stoking a form of tension between financial stability and inflation-targeting mandates of the Bank of England (BoE) while potentially creating the appearance of comparability between Britain and the biblical city of Babylon.
Truflation - the independent inflation data aggregator - says the U.S. will announce another sharp drop in inflation tomorrow when monthly data are dropped.
Germany's economic engine continues to misfire with data out Friday revealing another contraction in the manufacturing sector, setting up the prospect of a rare three-quarter-long recession.
A key Bank of England yardstick used to ascertain domestic inflationary pressures confirms UK wage inflation remains resolutely sticky, casting doubts on the Bank's ability to bring inflation back to 2.0% in the medium term.
According to the Lloyds Bank Business Barometer, businesses haven't been this chipper since last May as they report a 9ppt improvement in sentiment.
The Great British public has "stepped up remarkably" in funding government borrowing shows a new analysis from Deutsche Bank.
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