In today’s bulletin:
General update
FCA statement on motor finance review next steps
FCA findings around their Consumer Support surveys
Testing and reviewing communications with consumers
Collaborations
Training
Events
General update
The UK economy (GDP) contracted ‘unexpectedly’ in January 2025 by 0.1%, which was weaker than forecast, driven mainly by a decline in the manufacturing sector. Economists had predicted the economy would grow by 0.1% in January, after 0.4% growth in December 2024. Monthly readings can be ‘volatile’, and the ONS said the economy was estimated to have grown by 0.2% over the 3 months to January. Output in consumer-facing services increased by 0.1% in January 2025. With tax rises coming into force in April, concerns remain that economic growth will remain sluggish for some time.
The next largest positive contribution at the subsector level in January 2025 came from a 0.7% growth in wholesale and retail trade; repair of motor vehicles and motorcycles.
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