Commenting on this morning’s UK PMI data, Melanie Baker, senior economist at Royal London Asset Management said:
“The data supports the view that the near term hit to the economy will be larger than November’s lockdown, but smaller than the Spring.
“Signs of increased job cuts suggest that things may get worse before they get better for households.
“Business optimism about the next 12 months continues to hold up well, reflecting the vaccine rollout. The probability of a much better second half of the year for the economy still looks high.”
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £148 billion of assets and employs 121 investment professionals as at 31 December 2020. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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