New Bank of England money and credit data out today provides insights into the current state of household balance sheets. Today’s data provides more evidence that we’ve reached a turning point in the interest rate cycle. Here’s a short thread on the key takeaways:

What has happened to day-to-day spending during the Spring Budget?

On the face of it very little. Apart from small top-ups (notably to NHS England and the Household Support Fund), the Chancellor re-committed to raising real-terms departmental spending by 1% until 2028-29.

UK trade volumes suffer record five-year decline ft.com/content/6d044f… via @ft

New research out from me & Simon Pittaway !
It looks at household debt in the UK over the past few years. We find some good news on levels of consumer debt (credit cards, overdrafts etc.) but bad news is a worrying rise in people falling into debt on priority household bills🧵

🇬🇧 What impact has Brexit had on trade?

In the 2 years after leaving the EU, the picture was complicated by the pandemic and the spike in energy prices. This means the 2023 data is the first real opportunity to see what’s going on, says RF's Emily Fry

resolutionfoundation.org/comment/britai…

New Resolution Foundation report out today (co-authored with Charlie McCurdy ), exploring:

- the increasing number of young people with mental health problems,
- the knock-on impacts on education and employment,
- what policy can do to help.

resolutionfoundation.org/publications/w…

.Office for National Statistics (ONS) GDP out this morning for Q4 2023 shows UK entering a recession with a contraction of 0.3% on the quarter. A technical recession is more significant politically than economically but the cost of living crisis has been a very weak period for the UK economy. Thread to follow…

Definitely one to read: 3 full years into the Trade and Cooperation Agreement with the EU where does UK trade stand? Emily take you through the 2023 trade data and gives you the answers.

Join our #RES2024 Annual Conference Special Session ‘Brexit and Trade: The Story So Far’📅25 March, 14:15-15:30.🗣️Thomas Sampson Jun Du John Springford Martina Magli 🪑Emily Fry

Register your place for #conference to attend!👉bit.ly/3lvqw8r

#EconTwitter #Brexit