Salient to Investors:
The median forecast for UK growth in Q2 is 0.6 percent versus 0.3 percent in Q1, led by services. A survey of 30 economists expects the UK economy expanded 1.4 percent from a year earlier.
Ross Walker at RBS said consumer spending has held up and we should see a decent pickup in services, though the recovery looks weak by historical standards.
In Q1, the savings ratio fell to 4.2 percent, the lowest in 4 years. Some economists question the durability of a consumer-led rebound when unemployment is near 8% and inflation continues to outstrip growth in wages.
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