Thomas Pugh

"The sales rebound last month suggests that consumers are opening their wallets again as budget uncertainty recedes."

"Underlying growth will slow from here, even if there is a deal in Iran."

"suggests that consumers are opening their wallets again as budget uncertainty recedes"

"Confidence should continue to improve this year as inflation and interest rates come down and the housing market picks up."

"The big risk is a disruptive (Government) leadership contest which resurrects the spectre of tax rises and dampens confidence again."

"Looking ahead, the inevitable impact of soaring energy prices will be slower growth."

"The good news for the chancellor is that full-year borrowing for 2025/26 came in at £132.bn, down from £151.9bn in the previous financial year, and in line with the latest OBR forecast."

"The longer the crisis goes on for, the more likely consumers are to adjust their spending habits, as consumer confidence wanes."

"The economic data is likely to take a downturn over the next few months, which could shift the emphasis back to concerns about the economy before the next meeting."