The global economic outlook is “less dire” than it was earlier this year, but recovery will be “long, uneven and uncertain”, according to Head of the International Monetary Fund (IMF), Katalina Georgieva.
Her comments follow the release of Q2 economic data in summer, with countries worldwide reporting record falls in output.
The UK’s output declined by 20.4% in Q2 compared with Q1, while in Europe, the Spanish, French and Italian economies shrank by 18.5%, 13.8% and 12.4%, respectively. Across the pond, the US economy declined at a yearly rate of 32.9%.
Despite this, Ms Georgieva said that the situation is now “somewhat better than expected”.
Her words are backed up by a forecast from the World Trade Organisation, which has improved its outlook for the global goods trade this year.
Catch up on our other blog posts:
Are you protected from canine chaos?
If you have a dog, you’ll know that they can be cute, loving… and a whole heap of trouble! Aviva1 recently backed this up when it revealed some of the company’s more noteworthy pet-related claims. From the pooch who turned on a tap and flooded his owners’...
Save by living just outside hotspots
By choosing to live just outside highly sought-after locations, analysis has shown that homebuyers could benefit from savings of up to 55%1, without forsaking their preferred location. Average savings come in at around 34% when locating five or ten minutes from a...
The money taboo – it’s good to talk it out
Are you worried about your finances? If so, you’re certainly not alone. According to a recent survey, 90% of households are worried about rising prices1. Financial worries can cause a great deal of stress and anxiety. In fact, nearly one in five people say they have...
Wellbeing benefits of income protection
Income protection insurance can be a cost-effective way of protecting yourself financially if you are unable to work due to illness or injury. What many people don’t realise is that taking out an income protection policy can have benefits beyond the financial....
Plan to avoid home buying stress
Job interview, driving test, family life… the list of life’s stresses is, unfortunately, long and varied. New research has revealed, however, that buying a home comes out on top. Can’t Buy Me Stress 37% of recent UK homebuyers said that buying a house was one...
Seeing protection in a new light
Nobody wants to think something bad happening to them. Perhaps it’s why so many people shy away from protection insurance – after all, it’s all too easy to think ‘it’ll never happen to me’. Unfortunately, ‘it’ can and does happen, whether ‘it’ be injury,...
Back to normal? Property update
Amid the backdrop of war in Ukraine and the spiralling cost of living, unpredictability is at the forefront of many people’s lives right now. The outlook for the housing and mortgage markets is no less uncertain. Taking a step back, however, it is possible to...
First-time buyers nearing forty
The average prospective buyer predicts they will be 37 years old by the time they finally step on the property ladder, up from 32 years old only two years ago. The survey by First Direct also found that 86% of prospective first-time buyers considered the...
Navigating the UK Equity Release market: What to consider.
Navigating the UK equity release market can be daunting, as there are a variety of different products and providers to choose from. However, with a bit of research and understanding of what to consider, you can make an informed decision that will suit your needs. One...
Be ready to buy in four steps
The home-buying process can be complex for the first-time buyer (FTB). So much so that finding the right home can start to seem like the least of your concerns! Here are some top tips to prepare financially before you kick off your search: Know what you need. Before...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Flexible appointments
Or call —02380224925