Buoyant travel demand over the summer has given the travel and tourism industry some much-needed respite in recent months. However, the outlook has already begun to soften as accelerating macroeconomic and geopolitical headwinds start to blunt the growth momentum.
British retail sales dropped more than expected in September, coinciding with the sharpest drop in consumer confidence in more than three years, snapping signs of a recovery in August.
Finance liquidity for SMEs in the UK are dwindling over the course of this year. Elevated inflation, diminishing government support, and banks’ ongoing loan book rationalisation have combined to constrict access to financing for SMEs.
Automakers increased production to meet pent-up demand in the first half of 2023 as supply chain issues eased.
New vehicle sales have been stronger than expected due to robust fleet sales and the continued resilience of buyers, with more electric vehicle choices on the market than ever.
Price action in Bitcoin turned bearish in mid-August after failing to break above a multi-year macro resistance between $28,800 and $31,700 for several weeks.
The UK’s international trade volumes continued a trend of incremental decline in May, according to the latest ONS data, as British companies struggle to increase goods sales overseas. Imports exceeded exports by almost £20bn in May, as the long-running goods trade deficit deteriorates again after a short-lived improvement in April.
The UK is grappling with one of the most stubborn inflationary challenges worldwide, exacerbated by labour market dynamics and declining real wages which will require structural reforms to bolster Britain’s productive potential and reverse the weak growth outlook.
The UK textile industry is absorbing a multitude of sector-specific headwinds alongside macro and geopolitical disruptions and the knock-on effects from retail sector weakness, which is impacting profitability and financial sustainability for many firms in the sector.
The global transition to sustainable transport offers various benefits, including cost savings for drivers, and thousands of highly skilled clean jobs across battery production, electric motors, power electronics and supply chains.
The past year saw a continuation of production bottlenecks amid supply chain issues throughout the industry and the average price of new vehicles continued to climb to new highs in 2022, tempering industry demand.
Electric vehicle sales accounted for a larger piece of the nation’s new vehicle sales as more buyers opted to go green.
The U.S. automotive industry’s story for 2022 was one of familiar supply and demand challenges. The sector was faced with the ongoing semiconductor shortage, limited new vehicle availability, and tempered consumer demand amid high prices, rising interest rates, and inflationary pressures.