mpc.theyserveforyou.com

mpc: 11 While household spending growth in the run up to Christmas had been fairly strong, more recent indicators had been weaker. The ONS had recorded a 1.3% fall in January retail sales and the BRC- KPMG Retail Sales Monitor, together with reports from the Bank's regional Agents, pointed to subdued retail sales in February. That weakness had seemed broadly consistent with the monetary indicators: household Divisia money and unsecured borrowing growth had both eased and the element of secured borrowing most likely to be correlated with consumption had remained broadly flat as a share of personal disposable income, despite the pickup in the housing market. Moreover, private car registrations had remained weak in February. The CBI/Grant Thornton consumer services index had also softened in Q1.