Investing.com – Last week, the UK’s economic landscape saw significant events that captured the attention of analysts and citizens alike. On Wednesday, 22nd May, the inflation numbers were released, with the showing a 2.3% year-on-year increase. Meanwhile, the surprised with a 33-point decline.
The PMI numbers were mixed: came in better than expected, while and data were lower than anticipated. Adding to the stresses on the UK economy, released on Friday, 24th May, failed to meet expectations both .
In political news, Prime Minister Rishi Sunak has called for general elections to be held on 4th July.
The stock market reacted to these developments with notable volatility. The experienced a downward trajectory last week, starting the week at a high of 8442.38 and closing on Friday at 8317.59. Investors are closely monitoring upcoming corporate earnings reports and further economic indicators.
remained mostly stable throughout the week at 1.27 against the dollar, while the pair cruised at around 0.85.
As the UK navigates these economic fluctuations, experts emphasize the importance of maintaining a balanced approach to monetary policy and fiscal support. The next few weeks will be crucial in determining the long-term impact of these recent events on the country’s economic stability.
This week, the UK economic calendar is relatively quiet, with the most important events being the on 28th May, a speech by , and on 31st May.
In contrast, the Eurozone economic events present a more dynamic environment this week. Today, the came in at 89.3, below the expectations of 90.4. Additionally, the are underway.
On Wednesday, 29th May, investors will be awaiting the numbers and the later the same day. On Thursday, and numbers will be released, followed by the Eurozone and US and .
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