This week has seen the first Labour Party Conference since the General Election in July 2024. Looking ahead to the Chancellor’s first budget in October, Rachel Reeves announced there would be no increase in income tax, national insurance or VAT, refusing to return to austerity. There was an announcement of the return of industrial strategy. … Continue reading “West Midlands Economic Impact Monitor – 26 September 2024”
Tag: The West Midlands Economic Impact Monitor
West Midlands Economic Impact Monitor – 27 June 2024
This month, the World Bank has recommended global cooperation to safeguard trade, support green and digital transitions, deliver debt relief, and improve food security. Economy and Business Despite an improvement in near-term prospects, the global outlook remains subdued by historical standards. In 2024-25, growth is set to underperform its 2010s average in nearly 60 percent … Continue reading “West Midlands Economic Impact Monitor – 27 June 2024”
West Midlands Economic Impact Monitor – 30 May 2024
This month brings news of a General Election on 4 July, following on from the May local elections where Labour won 9 out of 10 mayoral elections, including in the West Midlands. This is happening against the backdrop of global growth rates above 3% and inflation falling rapidly globally. In the UK, the Consumer Prices … Continue reading “West Midlands Economic Impact Monitor – 30 May 2024”
West Midlands Economic Impact Monitor – 26 April 2024
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”
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 – 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”