Year Ahead: Squeeze on household incomes to intensify as tough recession will dominate 2023 January 3, 2023 2023 is expected to be an exceptionally tough year for the UK economy. The country is almost certainly already in a year-long recession, one that will probably prove to be deeper than that experienced in the early 1990s. The squeeze on household real incomes will intensify as rising interest rates join soaring inflation. Admittedly, the [...]
This A.M.: Tide is turning at the Bank of England while markets await Powell remarks September 28, 2021 Having started the day in positive fashion yesterday, European markets saw the majority of the early gains slowly disappear, and though most did finish higher, it was a somewhat half-hearted affair. The result of the German election went entirely as expected, with little prospect of a new government this side of Christmas. US markets were [...]
UK business output falls to lowest level since lockdown October 10, 2021 Business output has shrunk to its lowest level of growth since the reopening of the economy as staff shortages and supply chain disruptions battered productivity last month. The closely-watched BDO Output Index suggests a slowdown across both manufacturing and services, falling more than five index points month-on-month to 100.69, effectively indicating average trend growth just [...]
US economy smashes Wall Street expectations as GDP accelerates at quickest pace since 1980s January 27, 2022 The US economy is powering faster than Wall Street can keep up with as the recovery across the pond continues to gather momentum. Stateside GDP growth came in at 6.9 per cent in the final three months of last year, the US Commerce Department said today. Experts had been pencilling in a 5.5 per cent [...]
Consumer confidence remains steady amid Brexit carry-on, survey shows April 30, 2019 Britons were more positive about the future economic situation in April than they were in March, but are putting off major purchases amid financial and political uncertainty, a new study has today shown. Read more: CBI: UK retailers enjoy rising sales for the first time in five months Meanwhile, fewer people in the UK were positive [...]
US consumer sentiment plummets to decade low August 13, 2021 US consumer sentiment fell sharply this month to its lowest level in a decade in a worrying indication of Americans’ outlook on economic recovery. The University of Michigan’s preliminary consumer sentiment index fell to 70.2 in the first half of August from a final reading of 81.2 in July. That was the lowest level since [...]
Shakespeare: Zara’s customers return as consumers regain confidence August 12, 2020 The real estate arm of high street fashion retailer Zara, Pontegadea, was this week accused of “bullying tactics” to deny rent reduction requests from other high street stores in the UK. An anonymous retail chain reported that Zara’s investment company has tried to add an extra year to one retail chain’s lease for every month [...]
Amazon to open first US clothes store with a ‘tech twist’ January 20, 2022 Amazon is making another push to grow its fashion business, announcing today that it will open its first-ever clothes store store this year, with a tech twist.
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Firms could be forced to get rid of staff without clarity on further financial support December 14, 2021 Retailers and hospitality bosses have reiterated calls for fresh financial support measures as trade is hit by Omicron restrictions ahead of Christmas. Businesses said consumer confidence has been hit by the latest headlines, with shops reporting reduced footfall and pubs seeing cancellations of bookings. Londoners are bunkering down in a bid to ensure they can [...]