This fortnight we saw another budget announcement, which has highlighted the global and national economic situation post pandemic and makes it difficult to read, we have a full summary of activities and an assessment of some of the implications for the region. PMI is reflecting the low current business confidence, as energy prices rise, and … Continue reading “West Midlands Economic Impact Monitor – 25 November 2022”
Category: West Midlands Economic Impact Monitor
West Midlands Economic Impact Monitor – 11 November 2022
This fortnight, with a new PM in place, leading business representative organisations, including the CBI, FSB and the Chambers of Commerce have called for certainty and stability from the new Prime Minister to restore business confidence in the UK. They are calling for Rishi Sunak to restore fiscal credibility, stabilise the economy and deliver much … Continue reading “West Midlands Economic Impact Monitor – 11 November 2022”
West Midlands Impact Monitor – 28th October 2022
Rishi Sunak is now UK Prime Minister. Concerns about inflation remain paramount for businesses, households and individuals. Russia has continued its targeted attack on Ukrainian energy supplies since last Monday, with an estimated 1.5m households now without electricity. Almost a third of Ukraine’s power stations and other energy-generating facilities having been destroyed in the attacks … Continue reading “West Midlands Impact Monitor – 28th October 2022”
West Midlands Impact Monitor – 14th October 2022
An interesting fact: marmalade has seen a rapid rise in sales surging by 18%, as the nation paid its respects to the Queen. Sales of supermarket own brands continue to surge in an effort to battle the cost-of living crisis. Sales of wonky fruit and vegetables have soared 38% and Lidl is the fastest growing … Continue reading “West Midlands Impact Monitor – 14th October 2022”
West Midlands Economic Impact Monitor – 30th September 2022
This week has seen an escalation of tensions in Ukraine as Russia mobilises reservists. In the UK, the domestic economic news has been dominated by the announcement of, and fall out from, a ‘mini budget’.
West Midlands Economic Impact Monitor- 16th September 2022
In a truly historic week, after reigning for 70 years, Queen Elizabeth II, the UK’s longest-serving monarch, died peacefully on 8th September. She is succeeded by King Charles III. Also, Liz Truss became the UK’s third female Prime Minister two days before the death of Her Majesty, succeeding Boris Johnson. Economy The System Average Price … Continue reading “West Midlands Economic Impact Monitor- 16th September 2022”
West Midlands Impact Monitor – 2nd September 2022
This week forecasters are predicting that the UK will enter a recession in the 4th quarter of the year and global climate change issues are compounding the inflationary effects of energy prices, product supply and war. The West Midlands is being buffeted and affected by these impacts, the region particularly hit by fuel and energy … Continue reading “West Midlands Impact Monitor – 2nd September 2022”
West Midlands Impact Monitor – 19th August 2022
This week has seen rapidly rising inflation globally and a return to double-digit inflation in the UK for the first time in 40 years. Extreme weather events continue to cause concern, with drought conditions in parts of Europe, low river levels and wildfires. With athletes leaving Birmingham, attention is focused on capitalising on the impact … Continue reading “West Midlands Impact Monitor – 19th August 2022”
West Midlands Impact Monitor- 5th August 2022
This week has seen a more pessimistic growth outlook from the IMF and rising geopolitical tensions between the USA and China over Taiwan. In sporting news, the Birmingham 2022 Commonwealth Games are underway and the England women’s football team were victorious in the Euro 2022 competition. Global growth outlook The IMF has reduced their global … Continue reading “West Midlands Impact Monitor- 5th August 2022”
West Midlands Impact Monitor- 22nd July 2022
This week has seen the UK’s previously highest temperature record smashed with temperatures in excess of 40C recorded. Wildfires have raged across many parts of Europe. Inflation has been rising globally. In the UK the cost of living crisis has intensified as inflation hit 9.4% for the 12 months to June 2022. Record temperatures Wildfires … Continue reading “West Midlands Impact Monitor- 22nd July 2022”