Economy
The economy has a direct influence on the UK jewellery trade, affecting consumer spending, material costs, and business confidence across the sector. For jewellers, manufacturers, and suppliers, staying informed on economic trends is vital to planning and resilience. Jewellery Focus provides expert coverage of economic developments impacting the trade, including inflation, interest rates, consumer confidence, and supply chain challenges. Our reporting helps jewellery professionals understand the wider market forces shaping their business environment.
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Nov- 2022 -29 NovemberNews
Birmingham Assay Office teams up with Aston University for KTP
Aston University has teamed up with hallmarking specialists Birmingham Assay Office (BAO) through a knowledge transfer partnership (KTP) aimed at developing a sophisticated intelligent business system. The system will aim to improve operational efficiency and increase BAO’s competitiveness, leading to significant improvements in customer experience. A KTP is a three-way…
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17 NovemberNews
Chancellor freezes tax thresholds in Autumn statement
Chancellor Jeremy Hunt has announced a raft of measures to help “stabilise” the UK economy and reduce inflation, with tax cuts and spending cuts totalling £55bn in the Autumn statement. As part of the new measures, Hunt confirmed that tax as a percentage of GDP will rise by over 1%…
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Oct- 2022 -31 OctoberRetailers
Lily Arkwright to support Unicef on Black Friday
Lily Arkwright has announced it has pledged to donate a portion of every sale to Unicef this Black Friday, as the cost of living crisis is “looming” over the world’s economy. The jeweller will donate £50 from every sale to Unicef, save the children campaign. Lily Arkwright has teamed up…
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Sep- 2022 -23 SeptemberEconomy
Consumer confidence plummets to record low in September
UK consumer confidence has plummeted to a record low of -49% in September, the lowest since 1974, according to the latest research from GfK. It comes amid the cost of living crisis as households struggle with soaring energy bills and inflation. Four measures were down in comparison to the 19…
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23 SeptemberEconomy
Chancellor announces sweeping tax cuts in first mini-budget
Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as part of the new government’s first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…
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21 SeptemberEvents
Houlden conducts ‘record-breaking’ business at Autumn meeting
Houlden, a consortium of jewellers, has announced that “record-breaking” business has been achieved at its latest meeting, while the announcement of major new initiatives was a key highlight of the event. The Houlden Autumn Meeting took place in Windsor on September 8 and 9 when Houlden members were “united in…
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12 SeptemberEconomy
Economic recovery slows in July
The UK economy’s growth slowed in July to 0.2% according to the latest figures from the Office for National Statistics (ONS). The result is below previous forecasts of 0.4% growth for the month as worker shortages and soaring costs weighed on activity. It found that services grew by 0.4% in…
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Aug- 2022 -31 AugustEvents
Vicenzaoro September: Over a thousand exhibiting brands and top industry voices
Over a thousand exhibiting brands will be from 9th to 13th September at Vicenzaoro September, the international gold and jewellery show organised by Italian Exhibition Group (IEG) to be held at Vicenza Exhibition Centre accompanied by VO Vintage (9th – 11th September). Speakers at the next edition will include key figures from the industry. The authoritative voices of entrepreneurs, institutions, thought leaders and key global…
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26 AugustEconomy
Energy price cap to rise by 80% to £3,549 from October
Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual fuel for an average household from 1 October 2022. The rise will affect those on standard variable tariffs, with the record annual bill only being based on typical usage. At…
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5 AugustEconomy
UK recession can be averted, claims Truss
In an interview with Sky News’s Kay Burley last night (4 August), foreign secretary Liz Truss claimed she could avert a recession if she wins the leadership contest. The claim comes after the Bank of England projected that the UK would enter a recession in this year’s fourth quarter, with…
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