Tag Archive: economy

Is the UK going to swerve a recession?

Posted 1st March 2023 at 9:28 am

Better than anticipated purchasing managers’ index (PMI) data for February indicate encouraging resilience of the economy in the face of headwinds which include rising interest rates, the ongoing cost of living crisis, labour shortages and strikes. While many companies continue to report tough operating conditions, especially in the manufacturing sector, the broader business mood has been lifted by signs of inflation peaking, supply chains improving, and recession risks easing. The stress created by last autumn’s mini budget is also continuing to work its way out of the financial system. However, while the data suggest that near-term recession odds have fallen... Read more

Spring Statement summary

Posted 4th April 2022 at 1:30 pm

With inflation rising and households facing the largest ever recorded cost-of-living squeeze, Chancellor Rishi Sunak recently delivered the government’s Spring Statement. This blog summarises some of the key points that you should be aware of.   The treasury predicts that inflation is likely to average 7.4% for the rest of the year, a rise from the current level of 6.2%. This will put further significant pressure on household budgets as the cost of living continues to increase. Local Authorities are to be given a further £500m of funding for the Household Support Fund, which is designed to help the most... Read more

How will the Commonwealth Games benefit our region?

Posted 15th March 2022 at 8:33 am

After 5 years of preparation Birmingham is warming up for the Commonwealth Games, with the 11 day event featuring 71 countries set to take place later this summer. With an estimated 1.5 billion viewers due to tune into the event, we look at how the games may benefit our region now and in the future. Regeneration of key areas in Birmingham is already nearly complete, including a £72 million redevelopment of Alexander Stadium, and a £500 million investment in Perry Barr to deliver 5000 new homes, and transport improvements promising greater accessibility by both road and public transport. Victoria Square... Read more

UK Economy – Post Pandemic Predictions

Posted 29th July 2020 at 8:37 am

With lockdown lifting, the government’s focus is now fully on repairing the damage from the Covid-19 pandemic to our economy. In this blog we look at three possible five-year economic scenarios outlined by the treasury.   Best-case scenario Under this scenario, economic activity will rebound quickly, with GDP falling by 10.6% this year, but then returning to its pre-pandemic peak by the end of March 2021. Unemployment will reach a peak of 10% during this next quarter, and as many as 1.9 million people would be out of work next year. The government’s budget deficit will be 13% of GDP... Read more