The latest news update from Blackfinch Spring VCT PLC provides a comprehensive overview of global events, focusing on the UK, North America, and Europe. In the UK, the S&P Global's headline purchasing managers' index (PMI) survey indicated an increase in construction activity, with the cost of an average home rising and mortgage approvals for house purchases and remortgaging also on the rise. Additionally, the S&P Global/CIPS UK services sector PMI climbed to its highest level since June, reflecting increased optimism among UK firms regarding the outlook for 2024. Grocery price inflation in the UK slowed to an annual rate of 6.7% in December.
Moving to North America, the US economy added 216k jobs in December, surpassing economists' expectations, while the Institute for Supply Management reported that economic activity at US factories improved, although it still indicated contraction.
In Europe, inflation in the Eurozone rose to 2.9% in December, attributed to the reduction of government subsidies on food, electricity, and gas. Germany's Federal Employment Agency reported a slight increase in unemployment, while inflation in Turkey climbed to 64.77% in December, with expectations of further increases due to the government's decision to raise the official minimum wage by nearly 50%.
The news update also highlights additional market update options available, including live webinars presented by the investment team, to provide an exceptional advisory experience for clients. The company's contact information and regulatory details are also included in the communication.
Overall, the news update offers a detailed insight into key economic indicators and trends in the UK, North America, and Europe, providing valuable information for investors and financial professionals.