Ey Item Club

The UK's budget deficit rose to £31.6 billion in November, the third-largest monthly budget deficit on record and the highest since May, according to the latest figures from the Office for National Statistics (ONS).

Consumer price inflation fell back much more than expected to a three-month low of 0.3% in November, having risen to a three-month high of 0.7% in October, according to the latest statistics from the Office for National Statistics (ONS).

The Bank of England (BoE) has reported that mortgage approvals for house purchases extended their recent buoyancy in October, climbing to 97,532 marking the highest rate since August 2007.

The UK's economy bounced back from recession with record growth of 15.5% in July to September, according to the latest figures released by the Office for National Statistics (ONS).

The Bank of England (BoE) is to inject an extra £150 billion into the UK economy amid concerns that the second wave of COVID-19 would lead to a slower recovery.   It is expected that tighter lockdown restrictions in England will force the UK into another downturn. 

UK manufacturing activity dropped to a three-month low in October signalling a challenging start to the fourth quarter of this year as new COVID-19 restrictions come into force. 

British consumers have played a key role in the economy's third quarter bounce back, as retail sales volumes rose by 1.5% in September, according to the latest figures from the Office for National Statistics (ONS).

Consumer price inflation rose back up to 0.5% in September having fallen to 0.2% in August from 1.0% in July, according to the latest figures from the Office for National Statistics (ONS). 

Annual house price growth in the UK picked up to 5.0% in September, marking the highest rate in four years, according to Nationwide's latest house price index.

The UK government borrowed £35.9 billion in August as the coronavirus pandemic took its toll on the public finances, according to the latest figures released by the Office for National Statistics (ONS). 

The UK has emerged into the third quarter of the year with robust month-on-month GDP growth of 6.6% in July, according to the latest figures from the Office for National Statistics (ONS). 

House prices in the UK rose by a substantial 2.0% month-on-month in August, marking the largest monthly rise since February 2004, according to Nationwide's latest House Price Index.

UK manufacturing activity reached a 30-month high in August as firms across the UK restarted operations after the coronavirus lockdown. 

Retail sales volumes saw further improvement in July of 3.6% month-on-month, as the sector benefitted from a full month of non-essential retailers being allowed to open, according to the latest figures from the Office for National Statistics (ONS). 

The EY Item Club has estimated that UK inflation will reach 2.0% by the end of 2021.