Wednesday's session was marked by UK Unemployment Rate figures. There were 1.54 million unemployed people (people not in work but seeking and available to work), 53,000 fewer than for October to December 2016 and 152,000 fewer than for a year earlier. The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.6%, down from 5.1% for a year earlier and the lowest since 1975.
On Thursday UK Retail Sales figures were released. In April 2017, the quantity bought in the retail industry increased by 2.3% compared with March 2017 and by 4.0% compared with April 2016. The underlying pattern, as measured by the 3 month on 3 month estimate, showed a slight increase in April 2017 following a short period of contraction, increasing by 0.3%. Anecdotal evidence from retailers suggests that good weather contributed to growth. Average prices slowed slightly in April 2017, falling from 3.3% in March to 3.1% in April.
This week markets will be looking at:
Inflation Report Hearings (Tuesday 11:00)
Second Estimate GDP (Thursday 10:30)
