The latest issue of the Blackfinch Spring VCT PLC's weekly update provides a comprehensive overview of economic developments in the UK, North America, and Europe. In the UK, the consumer prices index (CPI) slowed to an annual rate of 2% in May, with the Bank of England (BoE) maintaining interest rates at 5.25%. Additionally, the UK saw an increase in consumer sentiment and retail sales volumes, while public sector net debt reached its highest level since the 1960s.
In North America, US business activity experienced accelerated growth, particularly in the service sector, with the flash US Purchasing Managers Composite Index reaching its highest level in 26 months. However, retail sales increased at a slower pace than forecast in May, rising by 0.1%.
In Europe, the Eurozone's annual CPI rate was 2.6% in May, up from 2.4% in April, while political uncertainty impacted France's private sector, leading to a decline in business activity and confidence. The French equity market also experienced a shift in preference, becoming one of the most unloved in Europe due to political uncertainty.
The update also highlights the availability of additional market update options, including live webinars presented by the investment team, to provide an exceptional advisory experience for clients. This comprehensive overview equips advisors with the latest economic insights to engage in informed conversations with their clients.