IHS Markit says households reported that their income from work grew at the fastest rate since July 2016 (when income growth hit its highest since the survey began in January 2009)
- The firm said an upcoming increase in the minimum wage was the most likely reason why households reported the results
Also …. this via BCC:
British Chambers of Commerce revised up its economic growth forecast to 1.4 percent from 1.1 percent
- “A moderate pick-up in pay growth (is) expected to support a modest improvement in consumer spending, a key driver for the UK economy” BCC economist Suren Thiru said.
- BCC said Brexit was distracting the government from improving training, infrastructure and immigration processes