Home counties plagued by acute skills shortages November 12, 2021 The home counties are suffering some of the most acute skills shortages in the UK, leaving employers in the region clutching at straws to expand their workforce. Almost half of firms in the Thames Valley, which emcompasses Buckinghamshire and Berkshire, are struggling to source trained workers from the local talent pool, research by accountancy firm [...]
London markets shrug off weak UK GDP figures November 11, 2021 London markets shrugged off weaker than expected UK GDP figures today. The capital’s premier FTSE 100 index gained 0.60 per cent to close at 7,384.18 points, while the mid-cap FTSE 250 advanced by the same amount to finish at 23,574.05 points. Traders seemingly ignored a weak quarterly GDP print released by the Office for National [...]
Pound plunges to yearly low against dollar on underwhelming UK GDP figures November 11, 2021 The pound has plunged to its lowest level against the dollar this calendar year driven by traders dumping the currency after fresh data showed the UK economic recovery is stalling. Pound sterling dipped to day low of $1.3365, the weakest the pound/dollar exchange rate in 2021, following the release of new GDP data from the [...]
Swelling non-EU imports widens UK trade deficit November 11, 2021 Swelling imports from non-EU countries driven by the UK bolstering trading relationships outside the European bloc is widening Britain’s trade deficit. An 11.2 per cent jump in imports from non-EU countries in September drove the trade deficit up £3.1bn to nearly £7bn in the third quarter. Imports from countries outside the EU have been higher [...]
UK recovery blinks in the face of supply chain breakdowns leaving economy stumbling behind G7 rivals November 11, 2021 The UK economic recovery is blinking in the face of severe supply chain breakdowns and soaring inflation, leaving Britain stumbling behind its G7 rivals. Over the three months to September, the British economy grew 1.3 per cent, much lower than experts’ expectations, according to the Office for National Statistics (ONS). Worryingly, the ONS revised down [...]
What everyone warned for is now a fact: Supply chain woes are slowing UK economic growth November 11, 2021 The ONS said this morning that UK economic growth slowed sharply between July and September. The official figures show this is largely due to the ongoing supply chain problems. The economy expanded by 1.3 per cent between July and September, down from growth of 5.5 per cent in the previous three months. The ONS said [...]
GDP: Summer spending pushes UK economy growth spurt of 1.3 per cent November 11, 2021 The UK economy grew by 1.3 per cent between July and September, down from 5.5 per cent in the previous three months, the Office for National Statistics (ONS) has said. The quarterly figure has fallen below analyst estimates of 1.5 per cent. The UK’s GDP remains just 0.6 per cent below its pre-pandemic levels after [...]
Global inflation tiger proves hard to catch as US prices rise at fastest rate in 30 years November 10, 2021 The global inflation tiger has been let out of the cage and is proving difficult to catch, scuppering bets from central bank wonks on price rises being temporary. Soaring energy prices, compounded by supply chains buckling under the weight of a resurgence in global demand as economies emerge from the pandemic has driven up prices [...]
Tsunami of resignations in war for talent hampers businesses’ growth across UK November 10, 2021 Fierce competition for talented new hires is forcing business leaders across the UK to compromise on the quality of their recruitment, while almost half saying they are not confident in being able to attract the right talent to fulfil their businesses growth potential. A wave of resignations, by professionals joining another company or making a [...]
China factory prices climb at fastest pace in over 25 years November 10, 2021 Factory gate prices in China are soaring at the fastest pace in over two and a half decades. The world’s second largest economy posted a 13.5 per cent annual jump in prices for raw materials last month, strengthening the prospect that China could export fiery inflation across the world. October’s reading was the highest since [...]