The latest indicators suggest growing economic confidence amongst both businesses and consumers in the UK, while store re-openings drove a second consecutive month of year-on-year sales growth for retail.
As those who have built up savings during lockdown begin to spend them, indicators of inflation are ticking up, with the annual CPI more than doubling between March and April.
Some, such as the Bank of England’s chief economist Andy Haldane, have warned of the danger of the economy overheating during a strong recovery.
The low interest rates paid by savings accounts for many years have created a long-term appetite to look for better returns through investing. It goes without saying that this shift will accelerate if inflation ticks upwards – and marketers offering financial products will need strategies in place to win this new money.
Alex Sword
Editor
