Get free access to
We will send you only relevant information we consider may be of your interest and treat your personal data in compliance with our Privacy policy, cookies policy and UK GDPR.
Unable to subscribe? Try this page.
Up-to-date economic data and analysis provide valuable insights for any business operating in the UK. This article dives into some of the key economic indicators currently shaping the UK market.
UK inflation fell to 2.3% in April, the lowest since September 2021, driven by lower energy prices. The UK economy grew by 0.6% between January and March, officially moving out of recession.
“While the outlook may have brightened the skies aren’t yet fully clear. UK firms need to see a long-term vision for the UK economy from politicians.” – David Bharier, Head of Research at the BCC
According to Standard Life, UK retirees face an average pension savings shortfall of £119,000. Retirees typically aimed for a pension pot of £250,000 but averaged only £131,000 by retirement.
“Clearly there’s a big gap between what people hope to save and what they actually do – this is unsurprising particularly when looking at it during a cost-of-living crisis.” – Dean Butler, Managing Director for Retail Direct at Standard Life
Recent figures from the Office for National Statistics (ONS) show that government borrowing was £120.7 billion in the year to March, reducing the Chancellor’s flexibility for pre-election budget adjustments.
“While lower than last year borrowing is already £6.6 billion higher than forecast at the Spring Budget last month. So far there are no signs of any new fiscal wriggle room emerging that might allow the Chancellor to announce another pre-election Budget in the Autumn.” – Cara Pacitti, Senior Economist at the Resolution Foundation
The Financial Conduct Authority (FCA) reports that 7.4 million people in the UK struggled to pay bills or credit repayments in January. This number, though lower than last year, remains significantly higher than pre-cost-of-living crisis levels.
“Our research shows many people are still struggling with their bills though it is encouraging to see some benefiting from the help that’s available.” – Sheldon Mills, Executive Director of Consumers and Competition at the FCA
Understanding economic data and analysis is an ongoing process, but by staying informed, businesses can navigate the complexities of the UK market with greater confidence. Contact our experts for assistance with any business matters.
Accounting and reporting services | Accounting online portal | Payroll and HR outsourcing | Payroll and HR online portal | Tax compliance and advisory | Go-to-market and corporate services | Company secretarial services
About Accace Adept UK
We are a joint venture between Accace and Adept Advisory, established to pursue a long-term strategy of providing innovative Business Process Outsourcing (BPO) and advisory services to clients in the United Kingdom and South Africa. We joined forces to augment each other’s valuable insight, knowhow and practices, whilst combining our experience in complementary fields of expertise.
About Accace Circle
Accace Adept operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience and erase the borders of service delivery. Covering over 50 jurisdictions with nearly 2,500 professionals, we support more than 15,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 200,000 pay slips globally.
