Credit, Collections & Insolvency News
Data from the Office for National Statistics (ONS) shows that the UK economy contracted by 0.1% in April, marking its first monthly fall since August last year. While the economy contracted on a month-by-month basis, it grew by 0.7% in the three months to April, compared with the previous quarter. The monthly decline was driven…
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Finance & Leasing Association (FLA) Chief Executive Shanika Amarasekara MBE has called for greater recognition of commercial finance as a critical driver of UK economic growth, arguing that the investment decisions made by businesses across the country are the driving force behind productivity, job creation and economic expansion. Speaking to industry leaders, she highlighted the…
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Latest Office for National Statistics (ONS) data has shown that the economy grew by 0.3% in November, marking the fastest growth since the 0.4% recorded in April. Analysts had been expecting monthly GDP growth of just 0.1%. The growth was driven by a return to production at Jaguar Land Rover and strong performance in the…
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The EY ITEM Club Winter Forecast is predicting that UK GDP growth will be at 1% in 2025, down from the 1.5% growth projected in October’s forecast. This represents only a marginal improvement on the 0.8% GDP growth the UK economy likely achieved in 2024. However, the EY ITEM Club still expects steady quarter-on-quarter growth…
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A combination of tailwinds to consumption and falling inflation should support modest positive growth in the UK over the remainder of this year and 2025 according to new analysis by KPMG. The prediction follows a technical recession in the second half of 2023, the UK economy has shown tentative signs of renewed momentum, with growth…
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New data released by the Institute of Directors (IOD) suggests the UK economy grew strongly in March, confounding official forecasts from the Office of Budget Responsibility of a contraction in Quarter 1. Order books have strengthened considerably since the turn of the year, and expectations of future revenue, hiring and investment are also all pointing…
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The number of UK sectors reporting output growth more than doubled in December, according to the Lloyds Bank UK Sector Tracker. Seven of the 14 sectors monitored by the Tracker reported output growth (versus three in November) – the highest number since June 2022. However, overall UK economic activity saw a slight decline (49.0 vs.…
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