Our monthly Economic Review is intended to provide background to recent developments in investment markets. The bulletin also gives an indication of how some key issues could impact in the future.
This month we begin by discussing the Bank of England (BoE) who has significantly increased its 2021 growth forecast, as survey evidence continues to highlight a strong economic rebound, fuelled by the easing of lockdown restrictions and rapid vaccine rollout. Although the economy remains smaller compared to before the pandemic started, the data does suggest the bounce back is gathering speed. However inflationary pressures are continuing and the rate more than doubled in April. Markets continue to show positive data with UK business confidence hitting a 5 year high. Finally unemployment and retail data are all giving positive indicators of a return to pre pandemic levels.
Our update this month includes the following headlines:
- BoE upgrades growth forecast
- Inflation rate rises sharply
- Jobs market: ‘Early signs of recovery’
- Sales soar as shops reopen
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It is important to take professional advice before making any decision relating to your personal finances. Information within this newsletter is based on our current understanding of taxation and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only.