Market comment

Borrowing figures give Sunak a little more room for manoeuvre

DAVY VIEW

This morning’s UK GfK Consumer Confidence data show another improvement – households likely buoyed by the vaccine rollout. However, January’s retail sales data show that the impact of the third lockdown, down 6% on the year, has been more severe than in November. More positively, January’s public sector borrowing figure came in at just £8bn, versus £25bn expected, suggesting the deficit will be closer to 15% of GDP and giving Rishi Sunak a little more room for manoeuvre in his March 3rd budget.

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Feb 19 2021, 08:40 GMT

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