Economic Review of August 2023

Our monthly economic review from Quilter Financial Planning is intended to provide background to recent developments in investment markets as well as to give an indication of how some key issues could impact in the future. It is not intended that individual investment decisions should be taken based on this information; we are always ready to discuss your individual requirements.

We hope you will find this review to be of interest. The following topics are covered this month:

UK growth rate exceeds expectations: The latest gross domestic product (GDP) statistics revealed that the UK economy grew more strongly than expected in June, although more recent survey data does suggest a renewed contraction looks ‘inevitable.’

Interest rates rise again: Early last month, the Bank of England (BoE) announced a further hike in its benchmark interest rate and warned that rates were likely to remain high for some time...

Headline inflation rate declines: Official consumer price statistics have revealed a further fall in the UK headline rate of inflation, although the latest data also showed fresh signs of stickiness in terms of core inflation...

Wage growth hits record high: Earnings statistics published last month showed that nominal wage growth rose a record rate in the three months to June, although more recent survey data does suggest pay deals may have started to cool...

Read our Quilter Financial Planning Economic Review here…

Economic Review of August 2023

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Henderson Stone Asset Management Ltd is registered in Scotland. Company Number: SC585359. Registered address: Suite 3/1 Herbert House, 26 Herbert Street, Glasgow, Scotland, G20 6NB.