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”
Category: West Midlands Economic Impact Monitor
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”
West Midlands Economic Impact Monitor – 9th June 2023
Despite some bright spots of recovery in the nation and West Midlands, the forecast remains turbulent for the UK economy. Perhaps the biggest news is inflation: despite falls in inflation over the period since the previous monitor, the base rate is now at 4.5% and the hopes of easing interest rates in the medium term … Continue reading “West Midlands Economic Impact Monitor – 9th June 2023”
West Midlands Economic Impact Monitor – 12th May 2023
Latest results suggest business conditions continue to remain challenging, but estimates show small signs of positive improvement for some measures; examples include a stable proportion of businesses reporting they were able to get materials, goods and services from within the UK, and more businesses reported having fewer concerns for their business. Both the Institute of Chartered … Continue reading “West Midlands Economic Impact Monitor – 12th May 2023”
West Midlands Impact Monitor – 27th April 2023
This month US President Joe Biden has announced he will run for re-election in 2024, seeking a second Presidential term. War has returned to Sudan, potentially leading to a greater humanitarian crisis in the region. Overall key features of the economic outlook remain the cost of living crisis and inflation. Economy Latest data shows there … Continue reading “West Midlands Impact Monitor – 27th April 2023”
West Midlands Impact Monitor – 6 April 2023
This is the 100th edition of the Monitor! The first one was published in late March 2020. At that time, PMI (Purchasing Managers Index) had dropped to 37.1, 1 in 3 businesses had closed due to regulation, Jaguar Land Rover had shut its production plants, and the numbers of calls for business support were increasing … Continue reading “West Midlands Impact Monitor – 6 April 2023”
West Midlands Economic Impact Monitor – 17 March 2023
The West Midlands Combined Authority has a boost of £1.5bn for the “Trailblazer” devolution programme as part of the Budget announcements. The Deeper Devolution Deal plans include greater responsibility for affordable housing provision, public transport with the extension of the Metro between Dudley and Brierley Hill, and the retention of business rates. Budget 2023 Amongst … Continue reading “West Midlands Economic Impact Monitor – 17 March 2023”
West Midlands Economic Impact Monitor – 3 March 2023
This week the Prime Minister and the President of the European Commission announced a new agreement – the Windsor Framework – to change the way the Northern Ireland Protocol operates, including by removing checks on goods from Great Britain remaining in Northern Ireland. Inflation in the Euro area is decelerating. Concerns about the impacts of … Continue reading “West Midlands Economic Impact Monitor – 3 March 2023”