The latest issue of the Blackfinch Spring VCT PLC's weekly update provides a comprehensive overview of key economic indicators across the UK, North America, and Europe. In the UK, the Consumer Prices Index (CPI) slowed to 2.3% in April, the lowest level in three years, driven by falling gas and electricity prices. However, house prices saw a 0.4% increase in May, lifting the annual rate of house price inflation to 1.3%. Despite a slight dip in mortgage approvals, mortgage borrowing surged to 2.4bn in April.
In North America, the US personal consumption expenditures (PCE) price index rose by 0.3% in April, with core PCE increasing by 0.2%. The US gross domestic product (GDP) was revised down to 1.3% for the first quarter, and initial jobless claims rose slightly to 219k for the week ending 25 May.
In Europe, the Eurozone core CPI inflation increased by 2.9% in May, surpassing analyst expectations. Additionally, the seasonally-adjusted unemployment rate across the euro area declined to 6.4% in April, the lowest level since the single currency was created.
The update also highlights the opportunity for an exceptional advisory experience, offering various market update options, including live webinars presented by the investment team. This allows advisors to stay informed and engage in informed conversations with clients.