Market Prognosis

A concise summary of the major macro events of the past 24 hours, and selected UK company-specific news.

February 12, 2024

Will the UK have a recession?

Macro

This week, we resume the schedule of macroeconomic data releases with inflation data from the UK (4.2% annualised vs 4% last time), the US (3% vs 3.4%), and employment data from the UK (unemployment rate in December of 4% vs. 3.9% previously). The week is rounded off with UK GDP data (MoM of -0.1% expected vs. 0.3% previously), leading to inevitable speculation over the likelihood of a UK recession.

UK Company News

Journeo, the public transport data provider, updated that its results are expected to align with market expectations, with revenue for the year ended 31 December 2023 increasing by 118% to £46m. acquired businesses, Infotec and MultiQ, have performed well since joining the Group and contributed £21m in revenues during the year.

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