Category archives: News in Review

“Conditions facing manufacturers have taken a turn for the better” Sentiment in the manufacturing sector took a positive upturn in April, with output expectations hitting a six-month high, according to the latest Industrial Trends Survey, released by the Confederation of British Industry (CBI) last week. As demand uncertainty recedes and financing concerns reduce, investment intentions […]

“With UK inflation finally falling below the US, its unwanted outlier status is over” New data from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) rose by 3.2% in the 12 months to March 2024, down from 3.4% in February. The March CPI rate is the lowest in two and a […]

“The economy is turning a corner” Last week, positive news came in the form of the latest UK gross domestic product (GDP) data from the Office for National Statistics (ONS) which showed the economy grew by 0.1% in February. This extends the economic recovery after growth in January was revised up to 0.3% from 0.2%. […]

“Shop price inflation eased to the lowest level since December 2021” New data from the British Retail Consortium (BRC) has revealed that shop price inflation has reduced to its lowest level in over three years. Recordings for the first week of March show an easing in annual price growth to 1.3%, a considerable reduction on […]

“Another month of growth for UK car production is welcome news” New data from the Society of Motor Manufacturers and Traders (SMMT) has revealed that UK car production increased by 14.6% in February, marking the six consecutive month of growth in the sector and the best February performance since 2021. Almost 80,000 units were manufactured […]

“We have turned a corner after the shocks of the past few years” Inflation has fallen to its lowest level in almost two and a half years, according to data released by the Office for National Statistics (ONS) last week. The Consumer Prices Index (CPI) increased by 3.4% in the 12 month period to February […]

“A plan to grow the economy, a plan for better public services, a plan to make work pay” Chancellor Jeremy Hunt delivered his Spring Budget last week, during which he provided an economic update from the Office for Budget Responsibility (OBR). The latest projections showed the rate of inflation is expected to fall below the […]

“If you look at recessions going back to the 1970s, this is the weakest by a long way” Last week, Bank of England (BoE) Governor, Andrew Bailey, indicated that the UK recession may already be over, citing “distinct signs of an upturn.” Comparing current conditions to historical downturns, Mr Bailey commented, “If you look at […]

“This is the fourth consecutive month that house prices have risen” Last week the latest data from the Halifax House Price Index for January showed that the average house price increased by 1.3% in the month, the fourth consecutive monthly rise. The average home in the UK now costs £291,029. The pace of annual growth […]

“Things are moving in the right direction” Last week, during their first meeting of 2024, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to retain Bank Rate at 5.25% by a majority of six to three. Two members of the committee preferred to increase the rate by 0.25 percentage points, to 5.5%, with […]