The UK’s recession appears to be ending with cuts to summer interest rate likely. ICAEW’s Economies Director Suren Thiru discusses the key points to watch.
Our chart this week looks at how retail sales have increased by 19.5% over the past five years, comprising a 1.4% fall in volumes and a 21.2% increase in prices.
Only a small improvement in the year-to-date deficit of £107bn reported in the penultimate monthly public finance release for 2023/24, over the same period a year ago.
The Bank of England Monetary Policy Committee held interest rates constant at its latest meeting, despite CPI falling to 3.4% in February and core inflation dropping to 4.5%.
While tax cuts will likely headline next week’s Spring Budget, debt markets will be questioning plans to reduce the deficit by constraining public spending.
The unwanted recession tag creates a headache for UK policymakers as the economy continues to struggle. ICAEW’s Economies Director Suren Thiru discusses the implications.
There were 294 profit warnings from UK-listed companies last year, with high interest rates and wavering consumer and business confidence among the key drivers.
The UK economy is struggling for momentum amid high interest rates, declining consumer activity and subdued business confidence. ICAEW’s Economies Director Suren Thiru discusses the implications.
Marginal lift in business confidence countered by effects of high interest rates and cost-of-living crisis, finds ICAEW’s gauge of sentiment for Q4 2023.
Our chart this week illustrates how core inflation has only dropped from 6.3% in December 2022 to 5.1% in December 2023, even as the headline rate has come down from 10.5% to 4.0%.
Another year of grim stagnation for the UK economy this year is likely as concerns over wider economic conditions outstrip the boost from lower inflation. ICAEW’s Economies Director Suren Thiru discusses the implications.
Economic conditions remain challenging despite a dramatic drop in inflation and a positive Autumn Statement. ICAEW’s Economies Director Suren Thiru discusses the implications.
Our chart this week takes a look at how UK public debt has exploded since the financial crisis to more than quintuple from £0.6trn in March 2008 to a projected £3.1trn in March 2029.
Companies need to ensure they are adequately explaining the impact of the ongoing economic uncertainties in their annual reports, the Financial Reporting Council (FRC) advises.
Our chart this week looks at how September’s inflation rate of 6.7% is made up by month, and why a big drop in the annual rate is predicted next month.
The recent financial crisis faced by Birmingham City Council, the administrative body of the UK’s second-largest city, has sparked important discussions about equal pay, financial management and organisational responsibility.
Many employees are struggling with the ongoing cost-of-living situation and the knock-on effects of this at work are cause for concern. How can employers offer their staff practical support?
Cyber security awareness month: cyber security has dropped down the priority list for small businesses during the cost-of-living crisis, but it would be a mistake to assume that smaller organisations aren’t at risk.
The pandemic, Brexit and the cost-of-living crisis are all having a profound impact on the charity sector. A revised edition of the Charity Treasurer’s Handbook offers updated guidance to chart a course through a charity treasurer’s responsibilities.
UK business confidence remains positive, but below pre-pandemic levels, finds ICAEW survey, as record high inflation and salary growth affect sentiment.
Inflation is finally starting to come down in the UK, but not as fast as hoped. That isn’t great news for pensions – but neither is it a complete disaster.
Our chart illustrates how ‘core inflation’, energy price rises, and food, alcohol and tobacco price inflation contributed to a lower than expected fall in the overall rate of inflation in April 2023.
A recent business poll conducted by the Chartered Institute of Internal Auditors has revealed a growing apprehension among chief internal auditors regarding financial, liquidity and insolvency risks.
An inflation rate of 10.1% in the year to March 2023 conceals a huge variation in individual price rises, as illustrated by this week’s chart on food prices.
Latest official estimate confirms the UK economy failed to grow in February, as service sector and industrial output fell amid strike action and high inflation.
Official data reveals that UK inflation rose for the first time in six months in February amid vegetable shortages, leaving the Bank of England with a tough decision on interest rates.
Latest official estimate confirms that the UK economy returned to growth in January as the service sector helped lift overall activity, but construction and industrial output fell.
Our chart this week illustrates the slowing rate of inflation and how it should fall further once a big surge in prices between February and April 2022 falls out of the comparison.
The Bank of England announces 10th successive increase in borrowing costs – but forecasts that the expected UK recession will be shallower and shorter than previously expected.
How concerned should professionals be about opportunities and pay in the next 12 months? Two finance recruiters provide a broadly encouraging overview.
ICAEW’s latest Business Confidence Monitor finds a weakened economy and depleting customer demand have caused confidence to plunge to 2009 global financial crisis levels – leading to calls for the Chancellor to outline his long-term vision for growth.
Times are expected to get worse before they get better, with far-reaching impacts on financial resilience and health, Resolution Foundation report warns.
Our final chart of 2022 shows how spending on Christmas is expected to fall significantly this year as the cost-of-living crisis takes its toll on family finances.
Guidance from ICAEW’s Financial Reporting Faculty explores the impact of high inflation on accounting and considers the financial reporting implications and related uncertainties that entities will need to think about.
One in five chartered accountants says cost-of-living crisis is hindering career progression, with concerns about job losses also rife, research finds.
