David McNamara: British economy is stuck in stagnation

Sticky inflation and moribund GDP growth point to a malaise in the economy

For the optimists, solid retail sales figures for January suggest the British consumer is recovering some momentum.

A plethora of British data last week provided conflicting evidence on the strength of the economy of late: For the optimists, continuing strength in the labour market and solid retail sales figures for January suggest the British consumer is recovering some momentum. 

However, sticky inflation and moribund GDP growth point to a wider malaise in the economy.