10th June 2024 - Credit Connect

UK’s economic growth flattered by a booming population

10th June 2024 Commercial Credit Management | #economy

The UK’s middle-of-the-pack record on economic growth since 2010 has been flattered by the population growing by six million people. But Britain will need to turnaround its dire productivity record and leverage its services strengths if it wants raise growth and boost living standards in the 2020s, according to new research By the Resolution Foundation.…

CBI upgrades GDP growth forecast

10th June 2024 Commercial Credit Management | #GDP growth

The UK economy is ‘picking up steam’ as households start to feel better off, according to a new forecast from the Confederation of British Industry (CBI). The CBI has upgraded its GDP growth forecast for this year from 0.8% to 1% and for next year from 1.6% to 1.9%, nearing pre-pandemic levels. Falling inflation is…

ICAEW appoints new President

10th June 2024 Appointments |

The ICAEW has appointed Malcolm Bacchus as its new President for 2024/25. Bacchus succeeds Mark Rhys as ICAEW President and will serve a one-year term until June 2025. As President, Bacchus will support the implementation of ICAEW’s 10-year strategy as well as the Institute’s commitment to serve the public interest as defined in its Royal Charter.…

Increase in ‘experience spending’ coincides with increase in consumer confidence

10th June 2024 Consumer Lending | #consumer spending

Consumers invested in staycations and home improvements during the Early May Bank Holiday, with both areas seeing significant uplift when compared to the same bank holiday in 2023 (28th April to 1st May 2023) according to latest Mastercard data. People are choosing to spend their money on experiences, including holidays and eating out. SpendingPulse data shows…

Rents increase 6.6%

10th June 2024 Consumer Lending | #rent increases

Research by Zoopla has found that rental growth has slowed to 6.6%. The analysis showed that rental demand has softened over the last year but there are still 15 people chasing every home for rent, more than double the pre-pandemic average of 6 people. Available supply has grown by almost a fifth over the last…

More than half of businesses could still be swayed in election campaign

10th June 2024 Commercial Credit Management | #election

Millions of voters who run their own businesses are still to make a final decision on who they will back on polling day, according to a snap general election survey by the Federation of Small Businesses (FSB). It reveals that 96 per cent of small business owners intend to vote, but one-in-five (20%) have yet…

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