The UK's public sector spending deficit in 2020/21 stood at £303BN according to new data released by the ONS on Friday, which amounts to 14.5% of GDP and is a new post-war record.
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Manufacturers are much more optimistic about the future says the Confederation of British Industry (CBI), whose latest monthly survey of the sector saw a surge in optimism.
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UK spending via debit and credit cards rose sharply in the week following the April 12 unlocking of the UK economy, suggesting a significant consumer-lead economic revival is underway.
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Inflation in the UK is rising again, with the annual CPI inflation rate going from 0.4% in February to 0.7% in March according to the ONS, driven by a 0.3% month-on-month rise recorded in March.
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The UK unemployment rate unexpectedly fell to 4.9% in February, down from 5.0% in January, but the decline flies in the face of consensus expectations for a rise to 5.1% to be announced.
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Eurozone inflation rebounded further out of its 2020 trough in March, data from Eurostat confirmed on Friday.
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U.S. retail sales grew a sizeable 9.8% on a month-on-month basis in March, which represents a notable recovery from the -2.7% reported in February.
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