Insights

Weekly Market Commentary – 20th June

23 June 2025

This week investors may be forgiven for feeling slightly wrong-footed by the latest economic data. Several indicators appear to contradict what is going on with consumers in the UK and the US. May retail sales in the UK fell by 2.7% from April and consumer borrowing on credit cards increased noticeably. However, consumer sentiment has improved, with expectations about personal finances notably better. The picture for the US is similarly muddled as consumer confidence jumped from the record low seen in April and May, but retail sales fell far more than expected.