UK economy

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According to the ONS, the UK economy showed a growth of 0.2% in April 2023, from a drop of 0.3% the prior month and in line with market expectations. Production and construction sectors both contracted in April 2023, by 0.3% and 0.6% respectively, while the services sector grew by 0.3%.

The cost-of-living crisis in the UK continues to persist. On Wednesday, the Office for National Statistics (ONS) released UK inflation data. Headline CPI was 8.7% in May 2023, unchanged from the previous month and above market forecasts of 8.4%. Core CPI rose unexpectedly to 7.1% in May 2023, from 6.8% in April and the highest since March 1992.

Inflation remained significantly above the Bank of England’s 2% target. In its fight against sticky inflation, today the Monetary Policy Committee (MPC) raised interest rates by 50 basis points, higher than market expectations of 25 bps.  This marked the thirteenth consecutive rate hike, bringing the Bank Rate to 5% in June 2023.

This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Aleph Finance, or its affiliates.

Aleph Finance is a trading name of UCapital Asset Management LLP.

UCapital Asset Management is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
UCapital Asset Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.

Registered Company number OC333807.

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Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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We draw your attention to the “Legal Documents” pages of our web site. This can be found at the top of each page. This section contains important information about the terms under which you use this web site, risk warnings and other important information. Please access and read this Important Information section.
Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

For further information, please read our Legal Documents.

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