Further comments by BOE governor Carney in parliament
- Don't think much of the lost Q1 growth due to poor weather will be made up
- Real income squeeze is ending, but it is possible households will try to rebuild savings than spend more
- Sees some signs of pick up in retail spending but it is "early days"
Carney highlights that data in the first three months of the year are the most prone to revision but he plays down the optimism of an upward revision by saying that there is 'residual softness'.
The second reading of the Q1 GDP report will be due on Friday this week. In case you need a refresher, here was the advanced reading that was released last month.
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