As Always, Brexit Is The Worry
Any conversation about the macroeconomics of the UK economy at present has to mention Brexit. Simply because that's the biggest risk facing said economy - the uncertainty over Brexit. For example, we saw good-ish GDP growth in the first quarter as people stockpiled for the end of March supposed leaving date. That didn't happen, those stocks have been run down this quarter, so, lower growth this quarter.
However, we do need to look at the underlying economy too, things like retail sales, to see what's actually happening there. We