Howard Archer Overall Quotations

No change was no surprise, given recent overall evidence of modestly stronger economic activity and a more robust housing market.

While the CBI survey indicated a marked softening in consumer spending following the relatively strong December performance, it nevertheless indicated a significantly stronger performance than that seen overall in recent months.

The overall trade performance was dragged down by a fifth successive deficit in oil trade and a reduced surplus in services.

The sector may see modest expansion in the first quarter of 2006, having been a major drag on overall growth in the fourth quarter.

This is still a pretty healthy report overall that suggests that the service sector has started 2006 relatively strongly. The report does little to change perceptions that the Bank of England will keep interest rates unchanged next week, and very probably for some time to come after then.

This is still a pretty benign report overall and broadly in line with Bank of England expectations contained in the February Inflation Report.

The combination of rising unemployment, falling employment and muted earnings growth is hardly supportive for consumer spending. It reinforces our belief that overall growth will be softer than forecast by the Bank of England and that underlying inflationary pressures will remain muted.