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Positive UK growth | China’s growing economy | Take Back Tuesday

 
Economist says UK will cope with Brexit hit
 
Former Goldman Sachs economist and ex-Treasury minister Jim O’Neill said: “Britain’s economy is likely to fare better in 2018 than many forecasters suggest and the benefits of global growth in the years ahead should easily dwarf the hit from leaving the EU.”
 
O’Neill suggests that the UK economy is more robust than first predicted due to areas of the UK, such as the North West, performing considerably better than people seem to realise.
 
Whilst the impact of Brexit has not been as detrimental on global growth as many economists forecast, overall growth in the UK has been slower than other rich nations.
 
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China’s economy grew by 6.9 per cent in 2017
 
According to official data China’s economy grew by 6.9 per cent in 2017, which surpasses Beijing’s official annual expansion target of around 6.5 per cent.
 
This is positive news for investors around the world as China is a key driver of the global economy, the latest growth is China’s highest in two years, and largely due to stronger exports and another push from a government infrastructure investment.
 
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The real impact of Take Back Tuesday
 
This year, the second of January was dubbed as ‘Take Back Tuesday’, as it was the first working day of the year and the first opportunity for consumers to return unwanted Christmas gifts. Although larger ecommerce businesses were prepared for the increase in returned goods, ParcelHero has stated this could lead to the eventual failure of smaller ecommerce brands.
 
According to new research from ParcelHero, there is an increasing expectation, especially from British consumers, for free returns. However, consumers aren’t aware of the impact this could have on smaller ecommerce businesses they love.
 
ParcelHero’s new report Retailers Reach the Point of No Return has highlighted a conflict between a free returns policy, which customers say would ‘make or break a purchase’, and small web stores operating on thin margins who struggle to afford the cost abnormally high numbers of returns incur.
 
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Thursday 25 January 2018

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