Category archives: News in Review

“Both retailers and their customers are in for hard times ahead” UK retail sales contracted in May as consumers reduced their spending, according to data released by the Office for National Statistics (ONS) last Friday. As prices continue to rise and the impact of inflation on household finances intensifies, retail sales volumes fell by 0.5% […]

‘We have the tools and determination we need to reduce inflation and I am confident the Bank will play their part in making that happen’ The Monetary Policy Committee (MPC) voted to raise Bank Rate last week, hiking the rate from 1% to 1.25%, the fifth consecutive rate rise. The MPC voted six to three […]

The release of the latest Economic Outlook from the Organisation for Economic Co-operation and Development (OECD) last week, highlighted that global GDP is now projected to slow this year to around 3%, remaining at a similar pace next year. This is a downgrade following estimates of 4.5% global growth this year, made last December. Outlining […]

‘There’s a real pent-up desire among the population to get out and enjoy itself’ Over the last week, the Queen’s Platinum Jubilee celebrations largely dominated the news. The extended bank holiday weekend provided an opportunity for people and communities throughout the UK to come together to celebrate the historic milestone. Official events over the long […]

“There is no measure any government could take… that can make these global forces disappear overnight” Inflation continues its ascent, with the Consumer Price Index (CPI) rising to 9.0% in the 12 months to April 2022, up from 7.0% in March, according to the latest data from the Office for National Statistics (ONS). Rishi Sunak […]

“Electric car sales are energising the market” With challenging financial and economic news in abundance, there are some good signs at least for the UK car industry. Recent analysis from the Society of Motor Manufacturers and Traders (SMMT) has shown that sales of used cars in the UK increased by 5.1% in Q1, with 1,774,351 […]

“Monetary policy must… navigate a narrow path” Interest rate rises were big news last week on home shores, across the pond and in Australia, as central banks acted in an effort to curb inflation. The Monetary Policy Committee voted by a 6-3 majority to increase Bank Rate by 0.25 percentage points to 1%, with further […]

“The American economy – powered by working families – continues to be resilient in the face of historic challenges” The US economy contracted in Q1 as surging inflation and supply disruptions weighed on output. A slower pace of inventory investment by businesses also weighed on the growth of the world’s largest economy, as did fading […]

“Online sales were hit particularly hard due to lower levels of discretionary spending” As expected, the latest data set from the Office for National Statistics (ONS) highlighted that consumer spending, impacted by rising costs, led to a reduction in UK retail sales throughout March. As people tightened up on non-essential spending, retail sales volumes fell […]

“We are facing a crisis on top of a crisis” Speaking in Washington DC prior to the release of the International Monetary Fund’s (IMF) biannual World Economic Outlook this week, Managing Director Kristalina Georgieva previewed her thoughts on the global economy. Opening her speech, she declared, “To put it simply: we are facing a crisis […]