News in Review Archives - DGS Chartered Financial Planners

News in Review

News in Review Wednesday 12th June 2024

Last Tuesday, figures from the latest Barclays Consumer Spend Report revealed that consumer card spending fell to a three-year low in May. As households continue to feel the squeeze, overall spending grew by just 1.0% for the month, its lowest rise since February 2021.

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News in Review Wednesday 5th June 2024

The UK experienced a modest rebound in house price growth in May, according to the latest Nationwide House Price Index, released on Friday. Prices rose by 0.4% month-on-month to reach an average house price of £264,249. The annual growth rate picked up to 1.3%, from 0.6% in April.

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News in Review Wednesday 29th May 2024

Last Wednesday, hot on the heels of fresh inflation data, Prime Minister Rishi Sunak took to a rain-soaked Downing Street podium to announce the date of the General Election – which is due to be held on 4 July. The countdown is on. The statement signals the start of intense campaigning for 650 Parliamentary seats […]

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News in Review Wednesday 22nd May 2024

New research from the Resolution Foundation has shone a light on the impact of inflation on the UK economy. The prolonged spike in inflation has ‘left British households spending less and saving more’ as elevated prices have affected spending behaviour, living standards and public finances.

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News in Review Wednesday 15th May 2024

Last week, during their third meeting of the year, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to retain Bank Rate at 5.25% by a majority of seven to two. Two members of the committee preferred to reduce the rate by 0.25 percentage points, to 5%.

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News in Review Wednesday 8th May 2024

The recently released Lloyds Bank’s Business Barometer has revealed that during April overall business confidence was consistent at 42%. The confidence recording remains considerably higher than the Barometer’s long-term average of 28%. In the last year, only the reading in January 2024 has seen businesses reporting higher levels of confidence (44%).

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News in Review Wednesday 1st May 2024

Sentiment in the manufacturing sector took a positive upturn in April, with output expectations hitting a six-month high, according to the latest Industrial Trends Survey, released by the Confederation of British Industry (CBI) last week.

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News in Review Wednesday 24th April 2024

New data from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) rose by 3.2% in the 12 months to March 2024, down from 3.4% in February. The March CPI rate is the lowest in two and a half years and considerably down on the peak of 11.1% in October 2022.

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News in Review Wednesday 17th April 2024

Last week, positive news came in the form of the latest UK gross domestic product (GDP) data from the Office for National Statistics (ONS) which showed the economy grew by 0.1% in February. This extends the economic recovery after growth in January was revised up to 0.3% from 0.2%.

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News in Review Wednesday 10th April 2024

New data from the British Retail Consortium (BRC) has revealed that shop price inflation has reduced to its lowest level in over three years. Recordings for the first week of March show an easing in annual price growth to 1.3%, a considerable reduction on the February reading of 2.5%, and well below the three-month average […]

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News in Review Wednesday 3rd April 2024

New data from the Society of Motor Manufacturers and Traders (SMMT) has revealed that UK car production increased by 14.6% in February, marking the six consecutive month of growth in the sector and the best February performance since 2021.

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News in Review Wednesday 27th March 2024

Inflation has fallen to its lowest level in almost two and a half years, according to data released by the Office for National Statistics (ONS) last week. The Consumer Prices Index (CPI) increased by 3.4% in the 12 month period to February 2024, reducing from the 4.0% figure recorded in January.

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News in Review Wednesday 20th March 2024

New UK growth statistics released from the Office for National Statistics (ONS) last week showed that monthly real gross domestic product (GDP) is estimated to have increased by 0.2% in January, following a 0.1% contraction in December.

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News in Review Wednesday 13th March 2024

Chancellor Jeremy Hunt delivered his Spring Budget last week, during which he provided an economic update from the Office for Budget Responsibility (OBR). The latest projections showed the rate of inflation is expected to fall below the Bank of England’s 2% target level in “a few months’ time.” The OBR expects economic growth of 0.8% […]

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News in Review Wednesday 6th March 2024

House price data released last week from Zoopla highlighted that the number of homes on the market has increased by 21% year-on-year, as pentup demand provides a boost. Buyer demand has also picked up, with an 11% increase on the year, while sales agreed are 15% higher than this time last year.

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News in Review Wednesday 28th February 2024

Last week, Bank of England (BoE) Governor, Andrew Bailey, indicated that the UK recession may already be over, citing “distinct signs of an upturn.”

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News in Review Wednesday 21st February 2024

Data released last week from the Office for National Statistics (ONS) showed that UK gross domestic product (GDP) shrank by 0.3% in Q4 2023. Following a 0.1% contraction in Q3, the data shows that the UK slipped into a technical recession in the second half of 2023, measured by two consecutive quarters of GDP contraction. […]

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News in Review Wednesday 14th February 2024

Last week the latest data from the Halifax House Price Index for January showed that the average house price increased by 1.3% in the month, the fourth consecutive monthly rise. The average home in the UK now costs £291,029.

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News in Review Wednesday 7th February 2024

Last week, during their first meeting of 2024, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to retain Bank Rate at 5.25% by a majority of six to three. Two members of the committee preferred to increase the rate by 0.25 percentage points, to 5.5%, with one member voting to reduce the rate […]

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News in Review Wednesday 31st January 2024

On Friday, the latest UK consumer confidence data from GfK showed that households are more optimistic about their personal finances. The index recorded a three point increase in January, to a reading of -19, the highest level in two years.

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News in Review Wednesday 24th January 2024

Last week, data from the Office for National Statistics (ONS) showed the UK’s annual inflation rate, as measured by the Consumer Prices Index (CPI) increased by 4% in the year to December. An unexpected uptick from the 3.9% reading in November, it contrasts with expectations of a modest decline to 3.8% in a Reuters poll […]

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News in Review Wednesday 17th January 2024

New data from the Office for National Statistics (ONS) has revealed that UK GDP is estimated to have grown by 0.3% in November 2023, this follows a fall of 0.3% in the previous month, and just exceeds a Reuters poll of economists who forecast growth of 0.2% in the month.

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News in Review Wednesday 10th January 2024

There was good news for supermarkets last week, as new data from market research firm Kantar showed they experienced their busiest Christmas in four years. During the four-week period to Christmas Eve, Britons made 488 million visits to supermarkets, 12 million more trips than the same period the previous year, and the highest number since […]

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News in Review Wednesday 3rd January 2024

Latest inflation data from the Office for National Statistics (ONS) revealed that the Consumer Prices Index (CPI) reduced to 3.9% in the year to November 2023, down from 4.6% recorded in the previous month.

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News in Review Wednesday 20th December 2023

Last week, during their final meeting of 2023, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted by a six to three majority to retain Bank Rate at 5.25%, with the minority voting to raise the rate by 0.25%. This outcome was widely predicted, with all but one of 68 economists in a recent […]

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