United Kingdom Consumer & Retail Q2 2019
Consumption growth will remain steady but unimpressive in 2019, as persistent Brexit-related uncertainty continues tohold back the UK economy. Inflation is moderating, forecast at 2.2% in 2019 compared to 2.5% in 2018, but risks are to the upside.Wage growth is picking up, supported by a tight labour market, but still elevated inflation will limit the material boost to consumerpurchasing power. Lingering Brexit uncertainties will weigh on consumer confidence and retail sales over the near term. A softBrexit, with the UK closely tied to the EU, is the most likely outcome, crucially avoiding the negative impacts of a 'no deal' scenario.
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