Lab Brief - September 2024
30 September 2024
Are we zipping up on the rails?
Hello again,
THE UK economy has made a sudden spurt and appears to be zipping up on the rails; overtaking many other members of the G7. The September forecast of the Organisation for Economic Co-operation and Development (OECD) is quite different to the picture it painted in May when UK growth for 2024 was predicted to achieve only 0.4% - amid a slow recovery from last year’s slight recession.
Now the OECD is saying that our economy will grow faster than that of Germany, Japan and Italy and has moved it to joint second place in the G7. At a time when the global outlook is improving, only the US is performing better.
UK growth is described as ‘robust’ and forecasts for 2024 have been upgraded to 1.1%, with a forecast of 1.2% for 2025. True, the UK will still have one of the highest interest rates in the OECD area, but other organisations are also rating our prospects highly.
Elsewhere predictions are being made about a sustained improvement in the strength of sterling. Unfortunately, freight costs are bucking the trend, with congestion in Asian ports caused by longer journeys needed to avoid trouble spots in the Middle East. Still good to make hay while the sun shines!
Toodle pip
Jacqueline
To download a PDF of the September issue, click here
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Also in this month's issue...
Rathburn Chemicals fined £40,000 for destruction of lab... Key clients to join GAMBICA members at upcoming conference... Pharma industry focused on competitive advantages of sustainability says survey... Would you like to be nominated for the Analytical Scientist Awards?... Outdated product safety legislation putting UK public at risk... Take part in a small batch manufacturing survey...RSC launches campaign for more chemistry labs + latest lab construction projects... Research updates: older vultures have fewer friends… FDA approves new sepsis test… snail venom diabetes treatment… anti-counterfeiting crystals… Export news: UK signs trade pact with Thailand… ECJU removes access to case workers… Suspect Bills of Lading from China… Increase in sponsorship visas being revoked... GAMBICA events... and Industry Events.