Business activity levels across the North West fell for the first time in seven months in August, according to the latest Regional PMI survey by high street bank NatWest. The headline North West PMI Business Activity Index – a seasonally adjusted index that measures the month-on-month change in … [Read more...]
News for: Finance
Inflation dropped to 15 month low in July
The CPI, the Office for National Statistics’ (ONS) headline measure of annual inflation, stood at 6.8% in July, down from 7.9% in the previous month. The fall by 1.1 percentage points in the CPI brings inflation to its lowest level in 15 months. Month-on-month, the ONS recorded a 0.4% fall in … [Read more...]
Interest rates rise to 5.25%
The Bank of England has raised its base interest rates to 5.25%, their highest level in 15 years as it continues to respond to high inflation. The latest 0.25 percentage point rise represents the fourteenth consecutive decision by the Bank’s Monetary Policy Committee to increase the base rate of … [Read more...]
Wilmslow fitness group secures £6.5 million refinancing
Wilmslow based health and fitness club operator, Total Fitness, has secured a £6.5 million loan from OakNorth Bank. The loan will refinance an existing debt facility, as well as support the refurbishment of several of Total Fitness's clubs. The deal also includes a debt accordion to support … [Read more...]
NatWest reveals fifth consecutive rise in business activity in the North West in June PMI survey
Firms in the North West recorded a fifth consecutive monthly rise in business activity in June, according to the latest NatWest UK Regional PMI survey. Despite the continued uplift in activity, the rate of growth eased to its slowest level since March following a drop in inflows of new work, with … [Read more...]
Support measures announced for mortgage holders following interest rate rise
Following the Bank of England’s decision to raise its base interest rate to 5%, Chancellor of the Exchequer Jeremy Hunt has announced new support measures for homeowners struggling with rising mortgage repayments. On 22nd June, the Bank of England’s Monetary Policy Committee (MPC) has agreed its … [Read more...]
North-west house prices up 4.8% on 2022
House prices in the North-west rose 4.8% in the 12 months to April 2023, according to the latest UK House Price Index published by the Office of National Statistics (ONS). The region has seen the second fastest house price growth in the UK, behind only the North-east (5.5% growth in the same … [Read more...]
Inflation falls to 8.7%
Inflation fell to 8.7% in April, according to the latest Consumer Price Index figures published today (24th May) by the Office of National Statistics (ONS). The fall, down from 10.1% in March sees the measure of price increases drop back below double figures for the first time since September's … [Read more...]
Bank of England base rate rises by a further 0.25 percentage points
The Bank of England’s top economists have agreed a further 0.25 percentage point increase in its base rate of interest, which now stands at 4.5%. The bank’s Monetary Policy Committee (MPC) have followed in the footsteps of the US Federal Reserve and the Eurozone’s European Central Bank in raising … [Read more...]
The Colony Group to bring luxury co-working and office space to Alderley Edge
Wilmslow-based The Colony Group is to open a new co-working and luxury office space in Alderley Edge after securing £1.6 million from Stockport-based lender, Together. The property investment group has bought a 7,000 sq ft office complex in the centre of West Street, Alderley Edge, to add to its … [Read more...]
Inflation fell in March but remained above 10%
Inflation in March continued to remain above 10% according to the latest Consumer Price Index (CPI) data from the Office of National Statistics (ONS), despite a slight fall on the February's figure. The ONS found that in March 2023, the average price of goods monitored rose by 10.1% compared to … [Read more...]
Interest rates rise again to 4.25%
The Bank of England’s Monetary Policy Committee (MPC) has voted to raise the bank’s base rate to 4.25%, the eleventh consecutive rise in interest rates since January 2022. The rate rise follows the release the February’s Consumer Prices Index which found inflation had risen to 10.4%, despite … [Read more...]