The forecast for global growth five years from now—at 3.1%—is at its lowest in decades. Global inflation is forecast to decline steadily, from 6.8% in 2023 to 5.9% in 2024 and 4.5% in 2025, with advanced economies returning to their inflation targets sooner than emerging markets and developing economies. Economic momentum is set to return … Continue reading “West Midlands Economic Impact Monitor – 26 April 2024”
Category: West Midlands Economic Impact Monitor
West Midlands Economic Impact Monitor – 28 March 2024
The final monitor before the Easter break brings us the news that input prices continue to slowly fall, which should contribute to decelerating inflation, yet the global economy is still showing slow growth. Most indicators show a moderate improvement, but all indications are that recovery will continue to be very slow. The Office for Budget … Continue reading “West Midlands Economic Impact Monitor – 28 March 2024”
West Midlands Economic Impact Monitor – 23 February 2024
The UK economy entered a recession at the end of last year. Meanwhile at the global scale growth has been revised upwards to just over 3% in 2024 and 2025, but below the historical norm that is closer to 4%. Regionally, business confidence is increasing. Global trends The IMF has released its World Economic Outlook … Continue reading “West Midlands Economic Impact Monitor – 23 February 2024”
West Midlands Economic Impact Monitor – 26 January 2024
A slow Christmas for retailers hints at the continuing issues with sluggish growth seen globally, with forecasts struggling to revise upwards. A continuing bumpy ride for China is having global ramifications. Food prices are rising, as are those goods most affected by Brexit. Future prospects for the West Midlands seem mixed. Growth outlook The World … Continue reading “West Midlands Economic Impact Monitor – 26 January 2024”
West Midlands Economic Impact Monitor – 15 December 2023
As 2023 draws to a close, the challenges of inflation (although falling) and low growth remain. The cost of living, the NHS and the economy are key concerns for the general public. However, businesses in the West Midlands are still optimistic as indicated by the Future Business Activity Index. Global, national and regional outlook The … Continue reading “West Midlands Economic Impact Monitor – 15 December 2023”
West Midlands Economic Impact Monitor- 17 November 2023
This month continues to be turbulent. Conflict in the Middle East, unstable UK politics and continued stagnation of the economy. Whilst the economy is showing some resilience, prospects for growth remain low and rising global tensions are increasing worries of global shocks to already sensitive energy markets. The baseline forecast is for global growth to … Continue reading “West Midlands Economic Impact Monitor- 17 November 2023”
West Midlands Economic Impact Monitor – 12 October 2023
In a week marked by escalating unrest in the Middle East, global leaders face critical decisions, raising concerns about the world economy. Amid rising international tensions, the global economy has shown unexpected resilience in early 2023, but growth prospects remain low. Although headline inflation is decreasing, core inflation persists due to the services sector and … Continue reading “West Midlands Economic Impact Monitor – 12 October 2023”
West Midlands Economic Impact Monitor – 13 September 2023
This month there is another natural disaster; rescue efforts are ongoing after a powerful earthquake struck central Morocco on Friday night just after 11pm. The death toll has soared to more than 2,000, with a similar number of injured. Inflation continues to be an issue globally post-pandemic. Heatwaves, fires and floods are hitting key supply … Continue reading “West Midlands Economic Impact Monitor – 13 September 2023”
West Midlands Economic Impact Monitor – 3 August 2023
While in the UK July 2023 has not seen anything close to the all-time temperature record of 40.3°C set on 19th July 2022, over the last month extreme weather has dominated international news headlines, with record high temperatures in the southern part of the USA and in southern Europe in particular and flooding in parts … Continue reading “West Midlands Economic Impact Monitor – 3 August 2023”
West Midlands Economic Impact Monitor – 7 July 2023
Business conditions continue to remain challenging, but estimates show some signs of improvement: (1) a smaller proportion of businesses report supply chain disruption, (2) more businesses report that they are able to get materials, goods, and services from within the UK, and (3) fewer businesses report price inflation of goods and services or energy prices … Continue reading “West Midlands Economic Impact Monitor – 7 July 2023”