Credit, collections & insolvency news
Small business confidence made a welcome return to positive territory for the first time in two years, the first evidence that the small business community has now come out of the late 2023 recession, according to FSB’s Small Business Index (SBI) for Q1 2024. The headline confidence reading jumped up over 20 points to reach…
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The British economy is expected to remain subdued this year due to the Bank of England delaying interest rate cuts in the face of stubborn inflation according to a repott by the EY Item Club. The report now expects GDP growth of 2% in 2025, up from 1.8% in January’s Winter Forecast. However, the growth forecast…
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Latest Office for National Statistics (ONS) has shown that Gross Domestic Product (GDP) rose 0.1% in February providing another sign of a return to sluggish economic growth this year. Output from the production industry led the economy’s growth, rising by 1.1%, compared to a fall of 0.3% in January. The figures were in line with…
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Latest data from the Institute of Directors (IoD) shows that business confidence in the UK economy took a significant leap forward in March. Bouncing back from the unexpectedly low confidence levels recorded in February, the key indicators suggest business leaders are returning to the more optimistic positions that they held in January. The IoD Directors’…
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Latest figures released by the Office for National Statistics (ONS) have shown that GDP rose by 0.2% in January following a fall in output during the previous month.. The UK’s economy grew in January, boosted by stronger sales in shops and online and more construction activity. January’s growth figure raises expectations of the economy expanding…
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New data from Novuna Business Finance has revealed that three quarters (75%) of small business owners are experiencing sleepless nights, with market volatility being their top concern for the second consecutive year. With 35% expressing worry about this in Q1 2024, the figure has slightly decreased from Q1’s 2022’s peak, amidst market turmoil following the…
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The Centre for Economics and Business Research (CEBR) predicts that the UK economy likely experienced a mild recession in the second half of last year. However, the think-tank believes that the country is now on the path to recovery, thanks to higher disposable household income and increased spending. CEBR says the UK economy has battled…
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Small business confidence lost ground in the final three months of 2023, reversing gains made earlier in the year, according to the Federation of Small Business (FSB)’s latest quarterly Small Business Index (SBI) with two in five small firms seeing revenues fall over Quarter 4 (Q4). The headline confidence reading was -15.0 points in Q4,…
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The private sector activity fell slightly in the three months to December (weighted balance of -8%, from -11% in the three months to November), according to the CBI’s latest Growth Indicator. The latest decline extends a stretch of one-and-a-half years without growth, a trend which firms expect to continue in the new year (-6%). Services…
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A year of poor economic data ended on a high as CPI inflation fell by more than markets expected to 3.9 per cent in November – its lowest level since September 2021. But while inflation should continue to fall next year, there are likely to be bumps in the road, reminding us all that cost-of-living…
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The UK economy has performed better than expected this year, but the outlook remains weak and vulnerable to shocks. UK GDP is expected to continue to grow at a modest pace of 0.5% this year and next, and only pick up to 1.0% in 2025, according to the latest KPMG Global Economic Outlook. Despite the…
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UK inflation fell to the lowest rate in two years last month, falling to 4.6% in the year to October from 6.7% in September. Economists have said the main reason inflation has fallen from its peak of 11.1 per cent in October 2022 is due to a reduction in the energy price cap, which limits…
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Latest Office for National Statistics (ONS) data has shown that the economy failed to grow in Quarter 3 (Q2). While GDP was up 0.2% in September, growth for August was revised down to 0.1% from 0.2%. With GDP flatlining in Q3, it means the UK has avoided a recession in 2023, with this defined as…
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