UK to tip into ‘mild recession’ as cost of living crunch cools spending June 27, 2022 Brits responding to the cost of living crisis by reining in spending may tip the UK into a “mild recession” next year, reveals fresh forecasts released today. The Bank of England embarking on a rapid interest rate hike cycle may also send the economy into reverse, according to a new report by consultants KPMG. Yael [...]
World is staring down the barrel of new high inflation era, BIS warns June 26, 2022 The world risks being flung into a new era of persistently high inflation that will tip the global economy into a drawn out recession, one of the world’s top economic institutions has warned. Rampant price rises triggered by a series of economic shocks that have no “historical parallels” could become the norm, the Bank for [...]
Cocktail of problems plunge UK consumer confidence to record low June 24, 2022 A relentless cost of living crunch, the prospect of a recession and stagnant wage growth has driven British pessimism to new highs, reveals a closely watched survey published today. UK consumer confidence dropped to minus 41 points this month, down marginally from minus 40 in May, the lowest reading recorded by research firm GfK since [...]
Britons lose £5k a year during lost decade of productivity growth June 23, 2022 Workers have lost an average of £5,000 every year over the last decade due to the UK’s meagre productivity growth, reveals a new report published today. Britain’s productivity growth has lagged the rest of the G7 “throughout much of the post-war period, which seems to indicate a deep structural problem,” according to the National Institute [...]
Rampant inflation swells UK debt interest bill and pushes up government borrowing June 23, 2022 Inflation is swelling the UK’s interest bill and forcing the government to borrow more money to pay investors, official figures released today revealed. The amount of money the government paid to holders of UK debt jumped just over 70 per cent over the last year, reaching £7.6bn in May, up from £4.5bn last year, according [...]
UK economy spiralling toward ‘troubling’ recession and even higher inflation June 23, 2022 The UK economy is hurtling towards a “troubling” slump that will see it tip into recession and suffer from rampant inflation, reveals a closely watched survey published today. Consumers are responding to the worst cost of living crunch in a generation by cooling spending, while businesses are grappling with flatlining demand, according to S&P Global’s [...]
UK factories hit by fastest cost rise since 1980s June 22, 2022 The price of materials used by UK factories are rising at the fastest pace on record in a sign that consumers could soon be spiked by a further inflation surge, fresh figures published today reveal. Input prices soared just over 22 per cent over the year to May, the fastest acceleration since the Office for [...]
UK inflation highest in G7, dialling up pressure on Bank of England to raise rates again June 22, 2022 The likelihood of the Bank of England hiking interest rates for the sixth time in a row is ramping up after new figures revealed the UK has the highest inflation in the G7. Prices climbed 9.1 per cent annually in May, up from April’s already four decade high rate of nine per cent, according to [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
British factories pare back price hike intentions on cooling demand June 21, 2022 British factories’ are paring back their expectations of price hikes in a sign that inflation may be beginning to ease, reveals a closely watched survey published today. The proportion of manufacturers planning to raise prices over the next three months fell to 58 per cent in June, the lowest level since September and down from [...]
