Economic Review July 2021

UK growth forecast upgraded The International Monetary Fund (IMF) has sharply increased this year’s growth forecast for the UK, although recent data does suggest the country’s strong economic rebound has begun to slow down. In its latest assessment of global economic prospects, the IMF highlighted a worrying divergence in fortunes between rich and poor nations, … Continue reading “Economic Review July 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 May 2021

BoE upgrades growth forecast The Bank of England (BoE) has significantly increased its 2021 growth forecast, as survey evidence continues to highlight a strong economic rebound, fuelled by the easing of lockdown restrictions and rapid vaccine rollout. In early May, the BoE revealed its latest predictions for the UK economy, which included a growth forecast … Continue reading “Economic Review May 2021”

Economic Review April 2021

Stronger recovery predicted The UK economy returned to growth in February and survey evidence suggests a strong recovery is imminent, as lockdown restrictions ease and the vaccine rollout continues at pace. Data published by the Office for National Statistics (ONS) showed the economy grew by 0.4% in February, as businesses prepared for the lifting of … Continue reading “Economic Review April 2021”

Economic Review March 2021

BoE: Outlook ‘unusually uncertain’ The Bank of England (BoE) has expressed growing confidence that a near-term recovery is gathering pace, although policymakers appear split over the country’s longer-term economic prospects. Gross domestic product (GDP) figures released by the Office for National Statistics (ONS) showed the UK economy shrank by 2.9% in January as the third … Continue reading “Economic Review March 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 of July 2020

UK Economy Recovering Although recent data has confirmed that the UK economy is recovering from its coronavirus lockdown slump, the longer-term outlook (unsurprisingly) remains decidedly unclear. Official data released by the Office for National Statistics (ONS) showed that the UK economy grew by 1.8% in May, following April’s record 20.3% contraction. While this modest rebound … Continue reading “Economic Review of July 2020”