Ey Item Club

The UK economy will not recover from the current recession until 2024, according to EY's economic forecaster, the EY ITEM Club.  The EY ITEM Club has said it is "unlikely" the economy will regain its fourth quarter 2019 size until 2024.

UK productivity, measured in terms of output per hour worked, saw a record decline in the second quarter of this year as it fell 2.5% quarter-on-quarter, according to a “flash” estimate from the Office for National Statistics (ONS).

The coronavirus pandemic is expected to see business lending grow by 14.4% this year surging to the highest level in 13 years, according to an EY ITEM Club Interim Bank Lending Forecast.

UK house prices rose 1.6% month-on-month in July, marking the first increase since February and the largest rise since December 201, according to the latest Halifax House Price Index.

The UK economy will not get back to pre-pandemic levels for four years according to the EY Item Club.

Retail sales in the UK increased by 13.9% in June, marking the second month of significant improvement in the wake of the coronavirus pandemic, according to the latest data from the Office for National Statistics (ONS). 

The UK's inflation rate rose to 0.6% in June as the coronavirus lockdown restrictions began to ease.

The UK Government borrowed £55.2 billion last month, hitting a new record high as the coronavirus lockdown weighed heavily on its finances.

The Bank of England has announced that it will inject an extra £100 billion into the UK economy whilst maintaining interest rates at a record low of 0.1%.

Retail sales in the UK throughout the month of April have dropped by 18.1%, according to the latest figures released by the Office for National Statistics (ONS).

The Scottish economy is predicted to grow by 0.8% GVA in 2020 and subsequently narrow the growth gap between Scotland and the UK by 2022, according to the EY Scottish ITEM Club 2020 Forecast published today. The report shows the Scottish economy grew in 2019 by 0.9% GVA and will continue to do so in

Retail sales in September this year remained flat following a fall of 03.% in August this year, a new report by the Office for National Statistics (ONS) reveals.

The Scottish Labour Market Statistics for Jun-August 2019 released today by the Office for National Statistics (ONS) have reported a 1.4% drop in the Scottish employment rate.

A report published by Halifax has revealed that the annual UK house price slowed to a 77-month low in September, as prices fell 0.4% month-on-month.

The Purchasing Managers Index (PMI) has revealed a contraction in activity within the services sector in September. This revelation completes a trio of PMI's which showed a decline in activity across services, manufacturing and construction sectors at the end of the third quarter of the year.