ukeconomy
UK Economy To Witness A StagflationBindi Patel, Economic Research Analyst at GlobalData, comments: “With soaring inflation levels, the purchasing power of the end consumer will continue to erode. Investments are expected to be subdued as investors may delay their plan to invest due to the rise in borrowing costs. Against the backdrop, GlobalData has revised its inflation rate projections of the UK for 2022 upward from 5.5% in February 2022 to 9% in August 2022.” Q2 2022 hedge fund letters, conferences and more According to the Office for National Statistics, UK’s inflation rate increased to 10...
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The public purse is facing a big squeeze with government borrowing higher than expected.FTSE 100 opened lower as concerns continue about the damaging effect of inflation.The oil price has fallen back, with the benchmark Brent crude dipping below $110 a barrel.Energy stocks and miners are once again under pressureThe UK Public Purse Is Facing A Big Squeeze“As the UK economy creaks under the pressure of rapidly rising prices, the public purse is facing a big squeeze, with government borrowing overshooting expectations. With growth going into reverse, dwindling tax payments are partly behind the ...
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“Inflation risks being a slow poison for the economy, so the Bank of England is trying to take an antidote now by raising interest rates. However, it can only take a small dose at a time given the ailing nature of the economy. So, it’s stuck with a 0.25% rate increase to 1.25%, with more hikes to follow. It’s not following the prescription written by the US Federal Reserve of the more potent medicine of a steeper hike due to fears a deep recession could follow. The US central bank hiked rates by 0.75% yesterday, more than it had initially planned given the worries of spiralling prices. Q1 2022...
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The UK economy shrank again in April as businesses felt the impact of price rises.GDP declined by 0.3% last month – a worse outcome than expected with all sectors shrinking.Asian stock markets have fallen sharply as soaring prices in America triggered fears there will be tougher on inflation.The US dollar strengthened to 135 Japanese yen for the first time in over two decades.Updates from Tritax Big Box REIT, Ferrexpo and Countrywide PropertiesQ1 2022 hedge fund letters, conferences and more Early Market Moves: Inflation Fears"Markets have set off on another rocky ride over inflation fears, fo...
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“The pound pile on has continued with sterling coming under even more pressure as political uncertainties have landed on top of economic worries, following a damning report into the Partygate scandal. The probe by senior civil servant Sue Gray has engulfed the UK government in a fiercer storm of criticism, as she pointed the finger of blame at the leadership for allowing a party culture to develop as the country was in lockdown and millions of citizens were in isolation. As traders speculated over just how untenable Boris Johnson’s position as Prime Minister is, sterling fell further against t...
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1956 – The Suez canal crisis in 1956 led to an economic crisis and capital flight1975 – Consumer price inflation reached 24% during the oil crisis1984 – Unemployment soared to 11.9% amid miners’ strike1987 – FTSE All Share drops 22% on Black Monday2001 – Dotcom bubble burst and markets fall by more than 50% over 3 years2008 – Financial crisis hits with housing market falling 15% by February 20092016 – The vote for Brexit sees the pound fall sharply on currency markets2000 – The pandemic sees record fall in output, with GDP falling 19.6%2022 – War in Ukraine unleashing commodity chaos and soari...
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“UK GDP data shows the engine of recovery is still spluttering, with the economy only inching ahead on its path back to full health. Although the September reading on output came in a couple of notches higher than expected at 0.6%, a downgrade of the growth picture in the summer showed just how much of a struggle there is for the economy to regain its pre-pandemic level. The sluggish picture is against the backdrop of the easing of social distancing regulations, offering fresh indications that many companies have struggled with the ongoing supply chain crisis and labour shortages. Nevertheless...
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UK Public Finance data released this morning shows a sharp improvement compared to where the Government’s finances were a year ago.Q2 2021 hedge fund letters, conferences and more Public Sector Net Borrowing in July almost halved, to £10.4bn, although this is still the second worst July for borrowing levels since records began. Both sides of the equation improved; spending fell by £2.9bn to £79.8bn, whilst government tax receipts of £70.0bn were up by £9.5bn on the prior year run-rate.Much of the improvement came from higher Self-Assessed Income Tax receipts, which improved by £3.7bn, or 76%, ...
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