Black Friday sees upturn in retail sales

The retail sector saw a significant increase in spending due to Black Friday sales and the beginning of the run up to Christmas, according to data from the Office for National Statistics (ONS). Debit card transaction data shows that retail spending rose by 33% in the...

Manufacturing sector facing a tough winter

According to a new survey by the Confederation of British Industry (CBI), UK manufacturers are set to face a tough winter, despite a rise in output volumes in the last three months. The industry trends survey, based on the responses of 230 manufacturing firms, found...

Five-year mortgage rates fall below 6%

The average five-year fixed mortgage rate fell below 6% for the first time in seven weeks on Tuesday (22 November), according to financial information service Moneyfacts. The latest data indicates that fixed rates are slowly returning to normal, making it easier and...

Tax take soars to £432.8bn

The total tax take for the first seven months of the fiscal year totalled £432.8bn - £41.5bn higher than the same period a year earlier. Between April and October 2022, receipts for income tax, capital gains tax (CGT) and National Insurance contributions (NICs)...

CPI rises to highest level in 40 years

Statistics from the Office for National Statistics (ONS) show that inflation has reached its highest level since the 1980s. Excluding owner-occupier housing costs, the consumer prices index (CPI) rose by 11.1% in the Year to October 2022, up from 10.1% in the year to...