The latest issue of the Blackfinch Spring VCT PLC newsletter provides a comprehensive overview of the economic landscape in the UK, North America, Europe, and Asia. In the UK, the gross domestic product (GDP) remained unchanged in April, with a quarterly expansion of 0.7%, while higher interest rates have impacted household finances. Despite a cost-of-living squeeze, real wages continue to grow, attributed in part to the recent 10% increase in the National Living Wage.
In North America, US CPI inflation remained steady in May, with housing costs continuing to rise, while the producer prices index (PPI) unexpectedly declined by 0.2%. The report also highlighted an increase in new claims for unemployment support, indicating a potential rise in redundancies.
The newsletter also delves into the impact of French President Emmanuel Macron's decision for snap parliamentary elections, which led to a negative outlook from independent ratings agency Moodys. In Asia, China's property sector faced challenges as new home prices declined at the fastest pace in nearly ten years, despite government efforts to support the market.
The newsletter also offers additional market update options, including live webinars, to enhance the advisory experience for clients. This comprehensive update from Blackfinch Spring VCT PLC provides valuable insights for informed conversations with clients and a deeper understanding of the global economic landscape.