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August 2020

Disclaimer :
"Any views or opinions expressed in these blogs are solely those of the author and might not represent those of Access Credit Management Limited."

British Government Sets Aside £900 Million for Construction Projects

The UK government has revealed a massive £900 million financial scheme for building projects in England. Over 300 projects that are described as being “shovel-ready” will be backed, in a move aimed at giving the national economy a timely boost.

Full Details of the Package

This stimulus package is split into a few different parts. For a start, some £360 million will be used to help build 26,000 new houses on existing brownfield sites. Sources suggest that the full package will lead to the creation of as many as 85,000 new jobs and 45,000 new homes.

Eating Out Scheme Is a Success But Employment Numbers Suffer Dramatic Fall

The UK’s recovery from the period of lockdown continues to provide a mixture of positive and negative news. In the last day or so, we have seen encouraging signs from the government’s dining out scheme, while employment numbers have fallen at a rate not seen since the last recession.

More Brits Are Eating Out

Strong German Recovery Expected But US Factories Slow Down

As the global recovery from the Covid-19 pandemic and lockdown gathers pace, it is becoming clear that the rate of recovery is going to vary widely from one country to another. A look at a few examples from around the planet helps to prove how this may work.

The German Outlook

The German central bank, the Bundesbank, has revealed that they expect to see a fast recovery that covers a broad section of the economy in 2020. This prediction comes after a disappointing second quarter of the year in which the German GDP dropped by 10.5%.

UK Inflation Rose More Than Expected in July

The speed of the UK’s recovery from the coronavirus lockdown continues to generate debate. Among the latest figures to be released, we can see that inflation rose by more than expected in July, while some sectors are returning to normal faster than others.

The Inflation Figures

The Office for National Statistics (ONS) recently reported that the consumer prices index was up by 1% on a year-by-year basis. This follows on from 0.6% in June. Previously, experts surveyed by Bloomberg had predicted that it would rise by 0.7%.

British Retail Jobs Being Lost at Highest Rate Since 2009

The economic turmoil caused by this year’s lockdown continues to cause damage to the jobs market. In fact, the latest figures show that retail jobs have been lost in 2020 at a faster rate than has been seen since 2009.

The Report

This data comes from the CBI’s monthly distributive trades survey. It looks at the country’s employment figures for 2020, up to September, in the retail industry. The results presented are worse than had been expected.

Factory Production Rises as Recovery from Lockdown Continues

The UK’s return to normal from the Covid-19 pandemic continues, with the latest signs of recovery coming from the manufacturing sector. In line with factories across the planet, British manufacturing firms saw their activity increase in August.

More Details

The numbers come from the UK manufacturing PMI update that was issued by Markit. They revealed a rise from 53.3 up to 55.2 in August. Any figure over 50 reflects growth in the sector.