Looking past the political narrative, economic data maintained the theme of normalisation. Economic growth in the UK, Europe and US is stable with no significant shocks. European inflation continues to fall, increasing the likelihood of interest rate cuts by the European Central Bank.
UK retail sales were standout of the month, significantly ahead of expectations – boosted by the weather. Whilst US inflation rates, specifically producer prices, did show signs that companies were taking a hit on profit margins due to tariff pressures.
Read why Premier Miton’s Managed Portfolio Service investment team find it difficult to see any change to the current narrative of falling US and Chinese company share prices and better performance of European and UK companies.
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