Macroeconomic news
- Revised UK growth figures show an encouraging recovery in early 2024.
- GDP per capita is growing more strongly than expected, for the first time after seven consecutive quarters without positive development.
- The GDP growth forecast for 2024 is already close to the OECD and IMF forecasts, according to the ONS.
- The manufacturing PMI (final) reached 50.9 in June, after an initial estimate of 51.4.
- Mortgage approvals in May continued to fall after peaking in March, according to the Bank of England.
- Consumer credit rebounded in May, according to the Bank of England.
- According to Nationwide, property prices rose by +0.2% in June (after +0.4% in May).
Business News
- The Department of Business and Trade (DBT) has reportedly decided to axe “trade adviser” positions at British consulates in the United States.
- The Department for Enterprise and Trade (DBT) publishes its attractiveness statistics for the 2023-2024 financial year.
Financial News
- Fast fashion retailer SHEIN has filed a confidential IPO application with Britain's Financial Markets Authority (FCA), Reuters reports.
- The pound is benefiting from the predictability of the outcome of the July 4 general election and from a monetary policy that could remain restrictive for longer.
- Investors who suffered financial losses from investments in shares of UK listed companies are taking legal action.
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