The latest update from Blackfinch Spring VCT PLC provides a comprehensive overview of the global economic landscape, offering valuable insights for advisors and clients. In the UK, the Office for National Statistics confirmed a 0.3% GDP decline, officially marking the economy's entry into a recession. However, the S&P Global manufacturing survey indicated a potential turnaround, with the Purchasing Managers Index rising to a 20-month high of 50.3 in March, signaling modest growth in activity.
In North America, the US economy exceeded expectations, expanding at a rate of 3.4% in the final quarter of 2023, while personal spending rose by 0.8% in February, surpassing economists' predictions. In Europe, Eurozone survey data suggested ongoing inflationary pressures, with the manufacturing PMI for the Eurozone being revised up to 46.1, albeit still below February's figure. Additionally, German inflation eased by 0.3% year-on-year in February.
The update also invites participation in the Investment Life & Pensions Moneyfacts Group plc Awards 2024, encouraging advisors to cast their votes in categories such as Best Tax and Estate Planning Solutions Provider and Best Venture Capital Trust Provider. By doing so, voters have the chance to win a £150 Amazon voucher provided by Moneyfacts. The voting deadline is Friday, April 5, 2024.
This comprehensive update from Blackfinch Spring VCT PLC equips advisors with the latest economic data, enabling them to engage in informed conversations with their clients and providing a valuable advisory experience.