Economic Review August 2021

Strong second quarter growth The latest gross domestic product (GDP) figures showed that the UK economy grew strongly in the second quarter, although more recent survey evidence does suggest the recovery is losing momentum. Data published by the Office for National Statistics (ONS) revealed the economy grew by 4.8% in the second quarter of this … Continue reading “Economic Review August 2021”

Economic Review June 2021

MPC maintains monetary stance Following its latest meeting held on 22 June, the Monetary Policy Committee (MPC) judged that the existing monetary stance remains appropriate, despite inflation rising above the Bank of England’s target level. Data released last month by the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) 12-month rate – … Continue reading “Economic Review June 2021”

Economic Review January 2021

Vaccinations provide economic hope Although recently released data has revealed a decline in UK economic activity, Bank of England (BoE) Governor Andrew Bailey, has expressed hopes that the vaccine roll-out programme will begin to spark a “pronounced recovery.” The latest gross domestic product (GDP) figures published by the Office for National Statistics (ONS) showed the … Continue reading “Economic Review January 2021”

Economic Review August 2020

FASTER REBOUND; SLOWER RECOVERY As recent economic statistics confirm the UK officially entered recession, Bank of England (BoE) forecasts suggest the slump will be less severe than previously thought, but the ensuing recovery is likely to take longer. Data released by the Office for National Statistics (ONS) showed the economy shrank by 20.4% between April … Continue reading “Economic Review August 2020”