The latest weekly update from Blackfinch Spring VCT PLC provides a comprehensive overview of global economic events, offering valuable insights for client conversations. In the UK, the Office for National Statistics reported a 0.2% growth in the economy in January, signaling the end of a shallow recession at the end of the previous year. However, the number of registered company insolvencies jumped 17% year-on-year in February, reaching a 30-year high in 2023.
In North America, US retail sales volumes increased by 0.6% in February, slightly below economists' expectations. The University of Michigan's preliminary consumer sentiment index also saw a slight decline in March, despite ongoing strength in equity markets. Meanwhile, in Asia, property investment in China declined by 9.0% year-on-year in the first two months of 2024, with the National Bureau of Statistics highlighting the market's state of adjustment and transition.
This update from Blackfinch Spring VCT PLC offers a valuable resource for advisors, providing a succinct yet comprehensive summary of key economic events across different regions. It equips advisors with the necessary information to engage in informed conversations with their clients, enabling them to provide an exceptional advisory experience.