Howard Archer
Howard Archer
areas consumer economy extended period risk spending
There is a very real risk that consumer spending will be muted for an extended period without any other areas of the economy compensating significantly.
deficit dragged fifth oil overall performance reduced successive surplus trade
The overall trade performance was dragged down by a fifth successive deficit in oil trade and a reduced surplus in services.
basis belief contain cut expected february further growth help interest points pressures rates subdued underlying
This subdued growth is expected to help to contain underlying inflationary pressures and risks, underpinning our belief that interest rates will be cut by a further 25 basis points in February or March.
excellent experience sunday
Our Sunday lunches have been an excellent flagship because that is often many people's first experience of our menus.
activity continued data evident half housing indicate lending market mortgage robust second
Overall, the mortgage approvals and lending data indicate that the more robust housing market activity evident in the second half of 2005 has continued into 2006.
appears chain contain continuing effects energy high oil pressures round second street strong supply
It appears that strong competitive pressures on the high street and through the supply chain are continuing to contain any second round inflationary effects of high oil and energy prices.
appears boost needed sales
It appears that significant discounting is still needed to boost sales volumes.
activity bank certainty england february interest next rates robust sector service unchanged
Robust service sector activity in February makes it even more of a cast-iron certainty that the Bank of England will keep interest rates unchanged next Thursday.
consumer continue costs domestic high input intense relatively subdued
Relatively subdued consumer spending, intense domestic and international competition, and high input costs continue to dampen ... the sector.
coming consumer critically depends future growth relatively suspect
Future growth still depends critically on developments in consumer spending, and we suspect that this will be relatively muted over the coming months.
bet change currently interest months rates safe seems several
It currently seems a pretty safe bet that interest rates will not change for several more months to come, if at all this year.
believe couple cut door early economy fails improvement interest next opening rate signs sustained
We believe the door is opening for an interest rate cut early in 2006 if the economy fails to show sustained significant signs of improvement over the next couple of months.
boost euro feed growth healthier hoping pound recently softer zone
Manufacturers will be hoping that healthier growth in the euro zone and a recently softer pound will increasingly feed through to give them with a significant boost in 2006.
activity bank consumer economic forecast growth held prove sluggish spending suspect
We suspect economic activity over much of 2006 will be held back by sluggish consumer spending and that the Bank of England's growth forecast will prove to be too optimistic.