Leading Indicators | Brighter days ahead?
Discover key economic and financial metrics, and what to look out for in the week ahead.
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Here we look at the leading indicators in the world of economics.
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Rate cuts expected this summer, with interest rate forecasts ranging between 4% - 4.5% by year end
Despite UK inflation falling to 3.4%, its lowest level since September 2021, the Bank of England kept its interest rate at a 16-year high last week. Money markets are currently pricing in three 25bps rate cuts in 2024, with the first move expected in August.
The UK Manufacturing PMI lifted to a 20-month high in March
The UK Manufacturing PMI hit 49.9 in March, its strongest level since July 2022, beating market expectations of 47.8. Meanwhile, the UK Services PMI fell to 53.4 in March, its lowest level in three months, but remained expansionary (above 50) for five months.
UK households’ personal finances outlook hits highest level since 2021
The outlook for personal finances in the UK increased to two in March 2024, its highest level since November 2021 and the first time above zero in over two years.
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