Sweden shows us whether lockdown was worth the economic cost August 26, 2020 Did Sweden get it right in its response to Covid? There is increasing interest in this question. Contrary to widespread belief, the Swedes did introduce a few legally enforceable restrictions on behaviour. For example, public gatherings of more than 50 people were forbidden in March. Private ones were exempt from the ban. But, overall, compared [...]
Four in five recruitment firms expect financial hit this year from Covid-19 August 25, 2020 Four in five recruitment firms said they expect a drop in full-year income in 2020-2021 as a result of the Covid pandemic. The majority of recruitment firms forecast a 15-30 per cent drop in income compared to the previous year, the survey by HSBC’s professional services team found. HSBC UK’s head of professional services Chloe [...]
German economy suffers record quarterly contraction August 25, 2020 The German economy shrank by a record 9.7 per cent in the second quarter of the year due to the impact of the coronavirus pandemic on consumer spending, investments and exports. The contraction, announced today by the German statistics office, is the sharpest drop since the country began recording quarterly GDP calculations in the 1970s. [...]
The inflation divide: what should investors be doing? August 25, 2020 Currently, inflation is more of an annoyance than the economic tyrant of old. Given the unprecedented stimulus that the global economy has received since the coronavirus crisis hit, the debate is whether these “whatever it takes” financial packages will stoke a sustained period of rising prices. Inflation or deflation? The inflation debate is polarising opinion [...]
UK retail sector enjoys ‘significant’ jump in footfall as economy recovers August 24, 2020 The number of visits to UK retail destinations jumped last week as the economy’s recovery picked up steam, new data has shown, with London a particular bright spot. Footfall was up 4.1 per cent in the 16 to 22 August period compared to the previous week, data firm Springboard said today. The rise was “a [...]
Coronavirus crisis: How far will the UK economy fall in 2020? August 24, 2020 HSBC last week became the latest big institution to downgrade its forecasts for the UK economy and disagree strongly with the Bank of England’s rosy expectations. It said the historic 20.4 per cent slump in GDP in the second quarter “was worse than we had expected”. The lender said it was therefore now “more pessimistic” [...]
US private sector rebounds in August as states reopen August 21, 2020 The US private sector grew at the fastest pace in a year and a half in August, according to preliminary survey data that showed both services and manufacturing expanding strongly. The IHS Markit composite purchasing managers’ index – a respected gauge of business output – rose to 54.7 in August from 50.3 in July. A [...]
CBI: UK manufacturing sector remained ‘depressed’ in August August 21, 2020 The UK manufacturing sector remained “depressed” in August although the downturn eased, according to a new survey that showed new orders rising only slightly month on month. The CBI’s monthly industrial trends survey’s measure of orders rose to minus 44 in August from minus 46 in July. It was below economists’ expectation of a rise [...]
UK businesses grow at fastest rate in seven years as economy reopens August 21, 2020 The UK economy bounced back sharply in August after coronavirus restrictions were lifted, with a closely-watched measure of growth hitting its highest level in almost seven years. However, companies slashed jobs at the fastest pace since May as they adjusted to life during the pandemic, in a worrying sign of what could turn into a [...]
Eurozone economy’s recovery stumbles as coronavirus cases rise August 21, 2020 The Eurozone economy’s recovery from coronavirus lost steam in August, according to new survey data, as demand in the bloc’s all-important services sectors slowed. The IHS Markit composite purchasing managers’ index (PMI) – a closely watched gauge of economic health – dropped to a two-month low of 51.6 in August from 54.9 in July, according [...]
