Tag: Ernst & Young Item Club

Outlook improves for UK economy

Outlook improves for UK economy

The UK economy could recover more quickly than expected according to economic forecasting group the Ernst & Young Item Club. The Item Club expects the UK to return to growth in the second half of this year, marking an end to the double-dip recession. However this depends on a solution being found to the debt [...]

July 17, 2012 | 0 Comments More
Workers will start to feel better off this year

Workers will start to feel better off this year

British workers will start to benefit from lower inflation and taxes this year, ending the year £482 better off than they were in 2011, according to a new report. The Ernst & Young ITEM Club suggests that inflation could fall to two per cent by the end of the year, as long as oil prices [...]

May 29, 2012 | 0 Comments More
Inflation falls to 4.2%

Inflation falls to 4.2%

The rate of Consumer Prices Index (CPI) inflation fell to 4.2 per cent in December, from 4.8 per cent in November, according to the latest figures from the Office for National Statistics (ONS). This is the third consecutive month that inflation has fallen and December’s figures represents the biggest monthly fall since April 2009. Inflation [...]

January 17, 2012 | 0 Comments More
Item Club warns of euro zone crisis impact

Item Club warns of euro zone crisis impact

Leading think tank, the Ernst & Young Item Club, has warned that growth within the UK economy is “grinding to a halt” because of the euro zone debt crisis. The Item Club also warned that the quantitative easing (QE) measures, announced recently by the Bank of England, are unlikely to boost the recovery. Its comments [...]

October 17, 2011 More
Think tank revises UK growth forecast

Think tank revises UK growth forecast

Respected think tank, Ernst & Young ITEM Club, has lowered its growth forecast for the UK economy after warning that the UK is at a “critical juncture”. The ITEM Club now believes the UK economy will expand by 1.4% this year, down from an earlier estimate of 1.8%. Furthermore, it is predicting growth of 2.2% [...]

July 18, 2011 | 0 Comments More
UK High Street in for a challenging time says think tank

UK High Street in for a challenging time says think tank

Respected think tank, Ernst & Young ITEM Club, has today said UK retailers are in for a tough time as household incomes become even further squeezed amid rising inflation and soaring energy bills. The think tank is forecasting consumer spending to rise by just 2% a year in the next decade as family finances are [...]

May 16, 2011 | 0 Comments More
Think tank urges central bank to keep interest rates low

Think tank urges central bank to keep interest rates low

Influential think tank, the Ernst & Young Item Club, is urging the Bank of England not to be pressurised into lifting UK interest rates as it could threaten the economic recovery. Interest rates have been at the historic low of 0.5% since March 2009 - when the economy was in the midst of recession. Despite [...]

January 17, 2011 | 0 Comments More
Think tank: Double dip unlikely but tough times ahead

Think tank: Double dip unlikely but tough times ahead

Respected economic forecaster, the Ernst & Young Item Club, has today warned of a gloomy outlook for consumers but a double-dip recession is unlikely. The think tank said economic growth will be hampered due to massive spending cuts - introduced by the Government to tackle the budget deficit. The Ernst & Young Item Club is [...]

October 18, 2010 | 0 Comments More
UK interest rates remain on hold

UK interest rates remain on hold

The Bank of England’s (BoE) Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 18th consecutive month, as widely expected. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced [...]

August 5, 2010 | 0 Comments More
Remortgaging relief as interest rates “pinned to the floor” until 2014

Remortgaging relief as interest rates “pinned to the floor” until 2014

Mortgage borrowers will be pleased to hear that interest rates could be “pinned to the floor” until 2014. The prediction comes in the latest report by respected economic forecaster, Ernst & Young Item Club, which at the same time acknowledges that high energy prices and the VAT rise due in January will keep inflation above [...]

July 26, 2010 | 0 Comments More
Interest rates to remain at historic low until 2014

Interest rates to remain at historic low until 2014

Respected economic forecaster, the Ernst & Young ITEM Club, is predicting that interest rates will stay at the historic low of 0.5% until 2014. “A base rate of 0.5% will begin to look like the new normal,” Professor Peter Spencer from the ITEM Club said. Interest rates have stood at the record low since March [...]

July 25, 2010 | 0 Comments More
Prospects of UK economic growth “dismal” in 2010

Prospects of UK economic growth “dismal” in 2010

Respected economic forecaster, Ernst & Young ITEM Club, sees the prospects for the UK’s economic recovery remaining poor this year, with output growth likely to be about 1%. In its latest “Outlook for Business” report, the firm’s analysts describe world output and trade as “recovering rapidly” and maintain their view that exports and other sources [...]

April 19, 2010 | 0 Comments More
Leading business groups give assessment of UK economy

Leading business groups give assessment of UK economy

Business group, the Confederation of British Industry (CBI), said the UK economy is in for a “sluggish” recovery this year, predicting growth of just 1% in 2010 and 2.5% in 2011. The forecasts are slightly below the Government’s target of 1.25% this year and 3.5% for 2011. Richard Lambert, director general of the CBI, comments: [...]

March 22, 2010 | 0 Comments More
E&Y Item Club: Economic growth will struggle this year

E&Y Item Club: Economic growth will struggle this year

The latest quarterly report from the Ernst & Young Item Club is forecasting “a decade of pain” for the UK economy, with growth only expected to be 1% this year. The UK economy, which has now contracted for six consecutive quarters, has been lagging behind other economies and is now the last major economy that [...]

January 18, 2010 | 0 Comments More
UK GDP will struggle in 2010 warns E&Y Item Club

UK GDP will struggle in 2010 warns E&Y Item Club

The Ernst & Young Item Club, a respected group of economists, believes that the UK economy will struggle to achieve 1% growth next year and it is still too early to declare a recovery. The influential think tank is forecasting some growth in the latter half of 2009 but Gross Domestic Product (GDP) will struggle [...]

October 19, 2009 | 0 Comments More
UK house price rally called into question again

UK house price rally called into question again

The UK’s housing market rally is being called into question again, this time by Ernst & Young Item Club. The economic forecasting group warns that price rises seen in recent months are a false dawn and that the average value of a home will not revisit to its 2007 peak for at least another five [...]

September 14, 2009 | 0 Comments More
NIESR provides pessimistic outlook for UK economy

NIESR provides pessimistic outlook for UK economy

The National Institute of Economic and Social Research (NIESR) is joining many other leading think tanks by forecasting a slow recovery in the UK. The research body is expecting total UK Gross Domestic Product (GDP) to fall 4.3% this year before experiencing modest growth of 1% next year and 1.8% the year after. The forecasts [...]

July 22, 2009 | 0 Comments More
BCC: SMEs ’vulnerable’ to swine flu

BCC: SMEs ’vulnerable’ to swine flu

The director general of the British Chambers of Commerce, David Frost, has warned that small and medium size businesses (SMEs) are particularly vulnerable to the swine flu. Mr Frost told Sky News: “After a dramatic decline in the economy there is a touch more confidence coming back. But if swine flu does really take off [...]

July 19, 2009 | 0 Comments More
Serious chance of relapse within economy warns think tank

Serious chance of relapse within economy warns think tank

The Ernst & Young Item Club, the influential think-tank, said the UK economy is heading for a ‘fragile recovery’ and is predicting that the economy will contract by 4.5% this year - the biggest fall in any year since 1945. The prediction is far more pessimistic than the one from the Government who is forecasting [...]

CBI says recession has hit rock bottom

CBI says recession has hit rock bottom

The CBI said today that the worst of the recession is over since it took a deeper grasp than expected in the first quarter of 2009. However, the expectation is that the economy will slow more gently in the second part of the year. The group was keen to stress that despite the worst being [...]

April 20, 2009 | 0 Comments More