BMG July 2017 – Investment is boosting our leading activity indicator

Our activity indicator jumped to 0.5 in July, after figures of 0.1 in June and 0 in May. The improvement in US data and the stronger overall trends in investment and exports were behind this good result, despite mediocre consumer spending figures. Our inflation indicator is slightly positive again after falling for two months, although it has not shown any real trend in the last three months.

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