UK: Subdued consumer and business confidence – Danske Bank

Danske Bank analysts point out that the UK consumer and business confidence rose marginally in December but both remain subdued.

Key Quotes

“Both surveys were conducted before the election so based on these numbers we cannot say anything about consumers/business sentiment after the clear victory by Boris Johnson.”

“Looking ahead, continued weakness or slightly improving sentiment data will be highly important for whether and/or when Bank of England will cut interest rates, though we expect such to happen in Q1.”