West Midlands Weekly Economic Impact Monitor – 11th December 2020

This week, the first Covid-19 vaccination in the world was carried out in the West Midlands. Although there are signs of optimism following this, longer-term uncertainty over the Brexit deal continues. European equity futures have risen following stocks rising in much of Asia and the U.S. S&P 500 closed at an all-time high. In Washington, Treasury Secretary … Continue reading “West Midlands Weekly Economic Impact Monitor – 11th December 2020”

West Midlands Weekly Economic Impact Monitor – 4th December 2020

This week the national lockdown ended and areas have reverted back to tiers. The West Midlands is in tier 3, the highest tier with most restrictions. This is forcing the continued closure or reduced functioning of many businesses specifically in hospitality, tourism and retail. As Brexit draws closer businesses are raising more issues and concerns … Continue reading “West Midlands Weekly Economic Impact Monitor – 4th December 2020”

West Midlands Weekly Economic Impact Monitor – 27th November 2020

This week the Chancellor announced the Spending Review, the Office for Budget Responsibility (OBR) published its latest forecast and the Treasury has launched the new Green Book. The UK economy is expected to shrink by 11.3% this year – the largest fall in output for 300 years. Covid-19 will leave “long-term scarring” and the economy … Continue reading “West Midlands Weekly Economic Impact Monitor – 27th November 2020”

West Midlands Weekly Economic Impact Monitor – 20th November 2020

This week the development of vaccines is signalling a positive change, according to the International Monetary Fund (IMF)’s most recent forecasts, global growth is expected to be around 5.2% during 2021 based on the assumption that social distancing would gradually fade away as new Covid-19 vaccines are being developed. It’s worth noting that, following the … Continue reading “West Midlands Weekly Economic Impact Monitor – 20th November 2020”

West Midlands Weekly Economic Impact Monitor – 13th November 2020

This week we see cases continuing to rise and the adjustment to Lockdown 2. In terms of wellbeing, nationally, people are feeling the least satisfied with life since March, they are suffering the largest drop in how they feel about the things they do in their lives, anxiety levels are on the rise and happiness … Continue reading “West Midlands Weekly Economic Impact Monitor – 13th November 2020”

West Midlands Weekly Economic Impact Monitor – 6th November 2020

This week Britain looks on course to enter a double-dip recession this winter, as business surveys show economic growth almost halted last month even before the latest England-wide lockdown was announced, according to financial data company IHS Markit. Business service activity rise is much softer than September, new orders have declined for the first time … Continue reading “West Midlands Weekly Economic Impact Monitor – 6th November 2020”

West Midlands Weekly Economic Impact Monitor – 30th October 2020

The context this week is one of rising infections across Europe and national and local restrictions and lockdowns. The Job Retention Scheme is ending this week and is replaced by a new scheme that aims to protect viable jobs in businesses facing lower demand over the next six months. Concerns about unemployment and redundancy continue. … Continue reading “West Midlands Weekly Economic Impact Monitor – 30th October 2020”

West Midlands Weekly Economic Impact Monitor – 23rd October 2020

This week we include the dashboard of indictors monitoring the economy. As would be expected, they reflect the current pandemic circumstances. Deaths from coronavirus are on the rise for the first time since May. Youth claimant counts are relatively stable but stand at 44k or 8.9% of 16-24 year olds (21k more than pre-pandemic). All … Continue reading “West Midlands Weekly Economic Impact Monitor – 23rd October 2020”

West Midlands Weekly Economic Impact Monitor – 9th October 2020

This week cases continue to rise in the UK and death rates associated with covid19 are now also on the rise. Significant outbreaks are happening in the North West but as yet the West Midlands is not seeing the same increases. However business sentiment after a stronger summer, as reported regionally by business representative organisations, … Continue reading “West Midlands Weekly Economic Impact Monitor – 9th October 2020”

West Midlands Weekly Economic Impact Monitor – 2nd October 2020

This week, the ONS published a review of the last 6 months, and the effect the pandemic has had on people. As time has gone on more people believe it will be more than a year before life returns to normal, the lockdown has raised anxiety and it remains above the levels pre-COVID, but happiness … Continue reading “West Midlands Weekly Economic Impact Monitor – 2nd October 2020”