UK Economy: First cracks emerging – RBS

Research Team at RBS, suggests that the UK’s deteriorating post referendum outlook means that the market’s data focus will shift from trying to detect nascent price pressures towards signs of deteriorating activity.

Key Quotes

“The lagging nature of employment and the rolling 3month averages for the headline data mean job growth will have remained superficially solid in Q2. Still, a few cracks are already visible with average working time falling and outsized gains in self-employment (probably indicative of underemployment).”