Financial Digest: Latest Economic Indicators - July 2017
Here’s our round-up of the big economic and business news from the past week. The rising cost of living has seen consumer spending fall at its fastest rate for four years. Visa’s consumer spending index reported that spending fell by 0.3% in the last quarter.
A new government review is set to call for new rights for workers in the so-called ‘gig economy’ - such as Uber drivers and parcel couriers - that would entitle them to benefits, while retaining their flexibility.
Shoemaker Clarks is the latest firm to move some production to Britain from abroad. The trend for bringing work back to the UK is caused in part by increased manufacturing costs in Asia.
Justin King – the former boss of Sainsbury’s - is warning that shoppers face higher prices, less choice and poorer quality as a result of Brexit.
Two of the biggest industry groups in Germany have said their main priority during Brexit negotiations is protecting the single market, even if this harms trading relations with Britain.
A top Bank of England official has warned that watchdogs are ready to increase their scrutiny of banks and lenders to ensure their activities not only comply with regulations, but also the ‘spirit of the law’.
Business leaders are urging the British government to stay within the European customs union and single market until a final Brexit deal has been reached.
