Comments from Broadbent
There's little doubt the economy has performed somewhat more strongly that BOE's short-term forecasts
BOE won't over-interpret the incoming data
The impact on the housing market of greater Brexit uncertainty may take longer to come through
Economy has been helped by domestic demand momentum and quick support from a weaker pound
One should rush to a judgement about reasons for only a moderate slowing of the economy
A fairly guarded response from Broadbent, and he's right not to get too carried away. We have to remember what the economy was doing before the vote and it was getting softer many months before Brexit came to the fore. Now we got over the short-term noise of the vote, we need to see if the economy goes back on the path it was on before the vote.
Back to the PMI for the details.
