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EnglishپارسیEnglishپارسیThe UK’s 5-year Treasury Gilt auction cleared at 3.810%, down from 4.001% previously. The lower yield suggests stronger demand for medium-dated government debt and a softer pricing backdrop than in the prior sale.
Source: UK Debt Management Office (DMO)
The UK S&P Global Construction PMI (Feb) fell to 44.5 (vs 47.0 expected; prior 46.4), a sharp downside miss that signals faster contraction in the sector.
Source: S&P Global / CIPS
UK new passenger car registrations (Feb) came in at 90,100, with registrations up +7.2% y/y (prior +3.4%). The growth acceleration suggests a firmer auto-demand pulse, even if the headline count is seasonally influenced.
Source: SMMT (UK)
The BRC Shop Price Index (Feb, y/y) slowed to 1.1% (vs 1.4% expected; 1.5% prior), signalling easing price pressure at the shop level. The downside surprise supports the view that UK retail inflation is cooling at the margin.
Source: British Retail Consortium (BRC) / NielsenIQ
UK lending data sent a cooler signal for housing and broad liquidity:
Market read-through: Approvals and net lending under expectations alongside a negative M4 print suggest tighter credit/softer demand, even as consumer credit remains resilient.
Source: Bank of England
Monday, March 2, 2026 — The UK S&P Global Manufacturing PMI (Feb) eased to 51.7 (vs 52.0 expected; 52.0 prior). The index remains above 50—still signaling expansion—but the downside miss points to slowing momentum in the sector versus January.
Source: S&P Global / CIPS
The Nationwide HPI (Feb) rose +0.3% m/m (vs +0.2% expected; prior +0.3%), while y/y growth held at +1.0% (vs +0.7% expected; prior +1.0%). The data suggest housing demand remains steady, with prices continuing to grind higher.
Source: Nationwide Building Society
UK consumer sentiment weakened in February, with the GfK reading falling below expectations.
Why it matters: deeper pessimism can weigh on discretionary spending and reinforce the narrative of a cautious UK consumer backdrop.
Source: GfK (UK Consumer Confidence)
UK retailers reported a notably weaker trading environment, with the CBI Distributive Trades Survey (Feb) falling to -43, missing expectations and deteriorating sharply from the prior reading.
Why it matters: A deeper negative balance typically signals softer retail demand and a tougher near-term backdrop for consumer-linked activity.
Source: CBI (Confederation of British Industry)
UK car registrations stayed higher versus last year in January, but the month-on-month print eased—suggesting demand is positive but not accelerating.
What it suggests: a steady (not booming) consumption signal for autos, with the YoY rate cooling slightly from the prior reading.
Source: UK vehicle registration data (official/industry release, e.g., SMMT)
UK flash PMIs came in stronger than expected, with broad-based expansion intact. Composite PMI rose to 53.9 (vs 53.3 expected; prior 53.7). Services PMI printed 53.9 (vs 53.5 expected; prior 54.0), while Manufacturing PMI improved to 52.0 (vs 51.5 expected; prior 51.8).
Market lens: A firm PMI set reinforces resilience in UK activity and can keep rate-cut expectations more restrained if inflation stays sticky.
Source: S&P Global (UK Flash PMI).
UK public-sector numbers printed with a big swing into surplus territory. Public Sector Net Cash Requirement came in at -£59.306B (prior £16.840B), while Public Sector Net Borrowing printed -£30.40B (vs -£24.00B expected; prior -£11.58B).
Market lens: A stronger fiscal balance can reduce near-term funding pressure, but markets still focus on the medium-term fiscal path and growth/inflation mix.
Source: UK Office for National Statistics (ONS).