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.
Revised projections released last month by both the Bank of England (BoE) and International Monetary Fund (IMF) suggest the UK economy is now set to avoid recession this year.
In our economic review this month we begin by looking at the revised figures from the IMF and the factors behind them. We also look at projections for the rest of the year so we can try and predict how the UK economy will fair in 2023. We then review the latest decision by the Bank of England to increase Interest rates for the 12th time and how Inflation looks to fair moving forward. Our markets section is mainly negative this month as investors wait for the outcome of a key vote on the US debt ceiling. We then have positive data from retailers and less positive data from the labour market.
Our update this month includes the following headlines:
- UK growth forecasts upgraded
- Interest rates rise again
- More optimistic outlook for retailers
- Unemployment rate edges higher
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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.