April’s flash PMIs suggest that so far the economy is holding up better against the headwinds from the Iran war than in our baseline scenario, but that inflation will rise further. This may well lead some at the Bank of England to worry more about the upsides risks to inflation than the downside risks to activity. That said, we suspect activity will weaken before long.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
