We understand that the MPC must make difficult choices. But there is a clear risk that without corrective action the upward trend in unemployment would accelerate. We continue to believe that a cut in interest rates will be needed in the next few months, and we urge the MPC to consider early action. |
With energy costs up sharply in recent months and some disappointing developments in the global economy, there is no doubt UK manufacturers still face a challenging business environment. Nevertheless, this survey provides some encouraging news. |
With retailing and manufacturing both very weak, the fact that services are slowing is particularly worrying. |