Ey Item Club

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. 

The UK economy has officially entered a recession as it suffered its biggest decline on record between April and June, according to the latest statistics from the Office for National Statistics (ONS).

The UK economy will not recover from the current recession until 2024, according to EY's economic forecaster, the EY ITEM Club.  The EY ITEM Club has said it is "unlikely" the economy will regain its fourth quarter 2019 size until 2024.

UK productivity, measured in terms of output per hour worked, saw a record decline in the second quarter of this year as it fell 2.5% quarter-on-quarter, according to a “flash” estimate from the Office for National Statistics (ONS).

The coronavirus pandemic is expected to see business lending grow by 14.4% this year surging to the highest level in 13 years, according to an EY ITEM Club Interim Bank Lending Forecast.

UK house prices rose 1.6% month-on-month in July, marking the first increase since February and the largest rise since December 201, according to the latest Halifax House Price Index.

The UK economy will not get back to pre-pandemic levels for four years according to the EY Item Club.