Businesses showing signs of strain towards winter.
Current Affairs
Black Friday sees upturn in retail sales
Spending data shows a 33% increase in retail footfall.
Manufacturing sector facing a tough winter
Despite a rise in output volumes, production is expected to decline.
Five-year mortgage rates fall below 6%
New data indicates mortgage rates are returning to normal.
Tax take soars to £432.8bn
Total tax take for 2021/22 so far is £41.5bn higher than last year.
CPI rises to highest level in 40 years
Rising energy costs considered to be the main contributor.
Real-terms pay continues to fall
Soaring inflation affects real-terms pay, despite record wage increases.
Base interest rate rises to 3%
The Bank of England introduces its largest hike in 33 years.
Third of hospitality businesses at risk of going bust
Soaring energy and food prices are putting a strain on the sector.
Weekly footfall below pre-pandemic levels
Credit and debit card spending drops across all areas.
Median real terms pay falls by 2.6%
Soaring inflation sees real terms rate drop in the year to April.
Inflation rises to 10.1% in September
The rate of inflation returns to July’s 40-year high.
Insolvencies hit highest levels in over a decade
Q2 2022 saw 5,629 insolvencies in England and Wales.
UK economy shrinks by 0.3% in August
Decrease in GDP strengthens concerns of recession.
Bank of England reinforces bond buying scheme
New measures announced for the final week of the purchase scheme.
Business confidence falls significantly
Four in ten businesses anticipate a fall in profits over the next year.
Two-year mortgage rates reach 14-year high
The average two-year fixed mortgage rate soars to 6.07%.
Pound reaches two-week high
Sterling on track for its sixth consecutive daily rise.
Inflation falls to 9.9%
Dip in fuel prices slightly eases inflation.
Real terms pay falls by 2.6%
Prices rising higher than wages, ONS statistics show.
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