While the fourth quarter GDP data and the relatively healthy mix of the components further diminishes the chances of a near-term trimming of interest rates, we still believe a 25 basis point interest rate cut is very possible in May.
More Quotes from Howard Archer:
We suspect economic activity over much of 2006 will be held back by sluggish consumer spending and that the Bank of England's growth forecast will prove to be too optimistic.Howard Archer
The euro zone's upturn is still young and relatively fragile with significant question marks still hanging over the long-term strength of domestic demand.
Howard Archer
The climb in annual house price inflation to 2.5 per cent in November from a nine-year low of 1.8 per cent in October reported by the ODPM adds to the recent evidence that house prices have firmed to a limited degree recently amid stronger housing market activity and increased buyer interest.
Howard Archer
UK imports of goods excluding oil ... rose for a fourth successive month in February, and by substantial 4.5 percent, suggesting that domestic demand may have surprised on the upside in the first quarter.
Howard Archer
Pretty healthy retail sales growth in November reinforces belief that consumer spending is picking up to some extent, and reduces the case for a near-term interest rate cut.
Howard Archer
Below the headline data there are some positive features that should not be overlooked.
Howard Archer
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O sweet, delusive Noon, Which the morning climbs to find, O moment sped too soon, And morning left behind.
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The coward only threatens when he is safe.
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