UK economic growth to smash official forecasts this year September 16, 2021 The UK economy will grow faster than official forecasters expect this year and the rate of expansion will be higher in the long term, according to a new report released today. Ratings agency Fitch says the British economy will grow 6.6 per cent this year, higher than the Office for Budget Responsibility’s four per cent [...]
US retail sales smash expectations in August September 16, 2021 US retail sales smashed expectations last month, boosting confidence in the American economy’s recovery from the Covid crisis even amid a surge in cases driven by the Delta variant. Retail sales jumped 0.7 per cent in August, up sharply from 1.8 per cent in the previous month, according to fresh figures published by the US [...]
Brexit: Lorry driver shortages triggered by lack of EU workers September 16, 2021 Shortages of lorry drivers that are driving the UK economy to a grinding halt are primarily the result of a lack of EU workers due to Covid and Brexit, according to official statistics released today. One in four businesses are struggling to fill roles as a result of a sharp reduction in the supply of [...]
Build 250,000 homes for key workers, urges think tank September 16, 2021 The government should ring fence land to build 50,000 homes each year for key workers on the frontline of dealing with the Covid crisis. The Centre for Policy Studies (CPS) has called on the government to use land to build affordable homes for key workers to help them get on the property ladder. Properties built [...]
Higher than expected inflation clip drags London markets down September 15, 2021 London’s FTSE 100 dipped today, driven lower by a higher than expected inflation clip in August fuelling concerns the Bank of England may rein in stimulus measures sooner than forecast. The capital’s premier index closed down 0.25 per cent to 7,016.49 points, while the mid-cap FTSE 250 finished 1.07 per cent to lower, dropping to [...]
UK tops G20 economic growth rankings September 15, 2021 The UK economy grew at the fastest rate among the group of rich and developing nations in the second quarter of this year, according to new figures released today. The Organisation for Economic Co-operation and Development (OECD) said the British economy expanded 4.8 per cent between April and June this year, the fastest rate out [...]
UK manufacturers’ costs rise at fastest pace in a decade September 15, 2021 UK manufacturers’ costs rose at their fastest pace in a decade last month, adding to concerns price rises in the British economy may be much stickier than expected after separate data published today shows consumer price inflation jumped at its fastest rate on record. Input prices – typically materials used in the day-to-day running of [...]
Analysis: How did inflation rise at its fastest pace on record? September 15, 2021 Inflation in the UK is soaring at its fastest pace since records began. On an annual basis, prices jumped 3.2 per cent last month, up from two per cent in July, the highest monthly percentage point increase recorded, primarily driven by sharp rises in the cost of eating out compared to the same period in [...]
City watchdog launches blueprint to protect consumers from scams and risky investments September 15, 2021 The City watchdog has launched a brand new strategy today designed to cut the amount of money consumers lose each year from risky investments and scams. The Financial Conduct Authority (FCA) has set new targets to measure its effectiveness at protecting consumers from harm resulting from investing, aiming to cut the number of people investing [...]
Flight to cities to boost London businesses’ profitability September 13, 2021 Changes to working patterns and companies flocking to cities as the spectre of Covid recedes will boost London businesses’ profitability, according to fresh analysis published today. Research conducted by accountancy firm KPMG shows an influx of new, fast growing businesses into the capital will drive productivity and overall profitability levels up in London. Office occupancy [...]