UK | Consumer caution hasn’t gone away

The latest money and credit data suggested caution on the part of consumers. Unsecured lending flatlined in July and households’ savings continuing to grow by more than pre-Covid norms.

What you will learn from this report:

• Meanwhile, less momentum was evident in falls in August’s PMIs.
• But the indices remained firmly in growth territory, while lower infection numbers and less stringent self-isolation rules should see the recovery pick up steam.
• How much the economic recovery was held back by the resurgence of Covid infections in July and a rise in people instructed to self-isolate after being “pinged” by the NHS Covid app is difficult to gauge with certainty. But