Bank halves average wage growth forecast
Bank of England Governor Mark Carney announced today (13 August) that the Bank is halving its forecast for average wage growth, saying it now expects average salaries to rise by only 1.25 per cent this year. Continue reading
Self-employment central
The UK has been dubbed the ‘self-employment capital’ of Western Europe after an increase in the number of people working for themselves, according to a new report from the Institute for Public Policy Research (IPPR). Continue reading
Finding the right partner
Small and medium-sized enterprises (SMEs) that are rejected for bank funding are to be offered access to an “SME dating agency” that will connect them with independent, non-bank lenders who are willing to back them, according to a Government report. Continue reading
Surge for cash from flexible pensions
HM Revenue & Customs (HMRC) has revealed that around one third of eligible retirees will take cash out of their pension pot from April 2015 under new flexibility rules. Around 400,000 people will have the chance to take the money initially and about 130,000 will do so, according to the taxman. Continue reading
Industrial production figures disappoint
Although the UK’s industrial and manufacturing output moved back into growth during June, the rise was smaller than expected and suggested that overall economic growth is still being dominated by the services sector. Continue reading
Eight-month high for services sector
The UK’s dominant services sector, which makes up more than 70 per cent of gross domestic product (GDP), grew strongly in July, with business activity hitting an eight-month high. Continue reading
House building surges ahead
UK house building grew at its fastest rate in nearly 11 years last month, driven by strong demand for new projects according to the Markit UK Construction Purchasing Managers’ Index (PMI) survey. Continue reading
Factory output still strong
Although the pace of UK factory output slowed in July, it is continuing to enjoy one of its strongest growth periods for 22 years as it steps up to meet strong demand, according to research firm Markit. Continue reading
House price growth slows
House price growth slowed in July offering further evidence that the market has stopped accelerating, although the annual rate of increase is still in double figures. Continue reading
Administrations at lowest level in nine years
Although the number of personal insolvencies rose in the second quarter of this year, the number of firms going into liquidation decreased compared with the same period in 2013, and administrations, company voluntary arrangements and receiverships were also lower than during the same time a year ago.Continue reading
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