Thursday, July 22, 2010
A clutch of strong data
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

After Ben Bernanke's testimony yesterday, and an equally cautious interview in The Independent from Spencer Dale, the Bank of England's chief economist, some reassuring data were needed. The retail sales figures provided it, with a rise in volumes of 0.7% in June, for a 1.7% increase on the quarter. World Cup or not, this was pretty strong. More here.

Also today, car production in June showed a 28.6% rise compared with June 2009 and even Europe joined in the fun. The eurozone composite purchasing managers' index showed a rise to 56.7, consistent with stronger growth.