West Midlands Economic Impact Monitor – 18 March 2022

In the last fortnight we have seen considerable world turmoil, war in Eastern Europe, sanctions on Russia, further weakening of supply chains and escalating prices which are putting considerable stress on people and businesses. Whilst Covid-19 is still also in our midst, upheaval and migration could create greater risks of infection growth. However, it is … Continue reading “West Midlands Economic Impact Monitor – 18 March 2022”

West Midlands Economic Impact Monitor – 4 March 2022

This week, the news has been dominated by developments in Ukraine, and this has affected the data and research published on general economic conditions. Many forecasters and now reviewing their forecasts given the unfolding situation across Europe, and its wider impacts on the global economy. Once again this has flagged how interrelated countries are and … Continue reading “West Midlands Economic Impact Monitor – 4 March 2022”

West Midlands Economic Impact Monitor – 18 February 2022

This week commentary has focused on the Levelling Up White Paper, and the WMCA forecast provider Oxford Economics’ latest summary looks at the impact on UK cities and regions. Their assessment is: “The Levelling Up White Paper contains nothing to cause us to revise our forecasts for the UK’s various nations and regions, let alone … Continue reading “West Midlands Economic Impact Monitor – 18 February 2022”

West Midlands Economic Impact Monitor – 4 February 2022

The long-awaited Levelling Up White Paper was published on 2 February, setting out 12 missions: living standards, R&D, transport infrastructure, digital connectivity, education, skills, health, well-being, pride in place, housing, crime and local leadership. Domestically, ‘partygate’ has been dominating the news agenda: on 31 January the Cabinet Office published Sue Gray’s Update Report on the … Continue reading “West Midlands Economic Impact Monitor – 4 February 2022”

West Midlands Economic Impact Monitor – 21 January 2022

Infection rates from the Omicron variant remain high but are falling. On 19 January it was announced that England’s Plan B measures would end from 27 January, with use of mandatory face coverings in public places and Covid passports both discontinued, while the advice for people to work from home has been dropped with immediate … Continue reading “West Midlands Economic Impact Monitor – 21 January 2022”

West Midlands Economic Impact Monitor – 7 January 2022

This week we have seen infections from the Omicron variant rise to new highs. Plan B restrictions remain in place and the NHS and other frontline services are under strain. The hospitality and live events sectors have lost crucial income over the Christmas and New Year trading period. Concerns about inflation continue, including as a … Continue reading “West Midlands Economic Impact Monitor – 7 January 2022”

West Midlands Economic Impact Monitor – 10 December 2021

This week we see the rise of the new variant of Covid-19 which could be set to slow economic recovery down. Omicron developed in southern Africa and has now spread worldwide. New restrictions are emerging in many countries. This is leading to mass protests and in some cases violence, as citizens see this as an … Continue reading “West Midlands Economic Impact Monitor – 10 December 2021”

West Midlands Economic Impact Monitor – 26 November 2021

Globally we are seeing the majority of economies starting to recover; however, the speed of job creation is generally lagging behind, unable to compensate for earlier employment losses; especially in developing economies. Currently, the UN is predicting the global unemployment rate will hit 6.3%, falling to 5.7% in 2022, above the pre-pandemic level of 5.4%. … Continue reading “West Midlands Economic Impact Monitor – 26 November 2021”

West Midlands Economic Impact Monitor – 29 October 2021

Economic news this week has been dominated by the Budget and Spending Review in the UK. Preparations are ongoing for COP 26 in Glasgow, and the increased profile of the climate emergency is causing businesses to consider their carbon footprint, and take steps to mitigate its growth. Businesses remain concerned about rising cost pressures and … Continue reading “West Midlands Economic Impact Monitor – 29 October 2021”

West Midlands Economic Impact Monitor – 15 October 2021

This week the IMF has dropped its expected growth forecast for many of the leading economies globally. This reflects disruptions to supply chains and a softening of consumption in the third quarter. As government spending is slowing down on Covid-19 relief programmes, many consumers are reining in their spending, especially as inflation is hitting prices … Continue reading “West Midlands Economic Impact Monitor – 15 October 2021”