* UK growth - tmsnrt.rs/2eeJAlm
* UK inflation - tmsnrt.rs/2e52HBm
* UK wage growth - reut.rs/2nuYWbI
* UK retail sales - reut.rs/2mQh1xR
* UK goods exports - reut.rs/2nv8Zxd
By William Schomberg
LONDON, March 17 Britain's economy is sending
mixed signals about its readiness for Brexit, just as British
Prime Minister Theresa May is getting ready to launch the
process of pulling the country out of the European Union.
Overall economic growth was resilient in 2016, confounding
forecasts of a quick and painful hit from June's Brexit vote.
There have been recent signs that exporters are benefitting
from the pound's fall and a pickup in the world economy.
But consumers, typically the main drivers of British growth,
appear to be turning more cautious.
Following is a summary of the most important measures of the
British economy along with graphics.
OVERALL ECONOMIC GROWTH
Britain's economy grew by 1.8 percent in 2016, second only
to Germany among the Group of Seven big rich nations. In
quarterly terms, growth sped up at the end of the year,
prompting the Bank of England to raise its forecast for the
first three months of 2017. Most of the BoE's policymakers still
expect a slowdown this year but they showed "differing degrees
of confidence" about that forecast at their meeting this week.
The central bank and the government's official budget
forecasters expect growth of 2.0 percent this year. A Reuters
poll of economists saw weaker growth of 1.6 percent.
GRAPHIC - UK growth accelerated into the end of 2016:
INFLATION ON THE RISE
Inflation has begun to rise quickly in response to the sharp
fall in the value of the pound since the Brexit vote and the
rise in global oil prices. It stood at 1.8 percent in January
and the BoE predicts it will peak at 2.8 percent in the first
half of next year. Many private economists say it is heading
above 3 percent.
GRAPHIC - UK inflation starts to climb
WAGE GROWTH STUMBLES
British workers have seen their pay eaten away by rising
prices for many of the years following the financial crisis and
a brief respite, caused by inflation's fall to zero in 2015,
looks set to end soon. While inflation is on the rise, wage
growth is slowing, according to official data. Pay growth,
adjusted for inflation the lowest since October 2014. The BoE
expects pay will rise 3 percent in 2017, up from the most recent
reading of 2.2 percent, but its forecasts have often proven
GRAPHIC - UK wage growth ebbs away as inflation rises
CONSUMERS FEEL THE PINCH
Britain's shoppers proved nearly all the forecasters wrong
by carrying on spending freely after the Brexit vote, helping
the economy to withstand the initial shock of the result. But
that might be changing now. Retail sales fell in month-on-month
terms in November, December and January - the first stretch of
three consecutive declines since 2009.
However, consumer confidence has remained robust and house
prices continue to grow, adding to the mixed picture.
GRAPHIC - UK retail sales suffer back-to-back falls
CAN EXPORTERS MAKE UP THE DIFFERENCE?
Exporters are getting a boost from sterling's fall, as well
as a recovery in markets in Europe and the United States. Net
trade made a rare positive contribution to economic growth in
late 2016. And in the three months to January, volumes of goods
exports showed their biggest increase in a decade. But there are
big questions about what happens after Brexit. Britain is
prioritising migration controls over access to the EU's single
market which accounts for about half of Britain's exports.
GRAPHIC - UK goods exports volumes surge
(Writing by William Schomberg, graphics by Jiachuan Wu and Andy
Bruce Editing by Jeremy Gaunt)