United Kingdom Consumer & Retail Q1 2019
While there have been signals of more positive trends over the Q218 and Q318, we largely expect that this is temporary,with a deceleration in economic growth, coupled with lower real wage growth, on account of rising inflation, expected to weigh onconsumer spending in 2019. The economy is losing momentum as the Brexit deadline approaches and we expect households torespond with caution in the face of this uncertainty, diverting budgets towards saving over spending, at least in the short-term. Withunemployment expected to average slightly higher rates in 2019, this could cause a shock to confidence and lead to even weakerwage growth than recorded in 2018.
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