Today’s business news – in the UK and beyond amid concerns about the world’s largest economy and the fall in the Asian, US and UK markets.
Browsing: UK economy
UK shares dropped on Wednesday morning following falls in Asian and US markets as concerns grow about the US economy – which is the world’s largest.
Data showed US manufacturing activity remains subdued, with investors now focussed on US jobs figures due on Friday.
The pound’s recent strong rally has slowed, with traders looking for direction in a quiet week for UK economic data. Sterling is down 0.2% against the dollar, trading around $1.311, after losing over 1% in the past five days.
The dollar is near a two-week high ahead of key US data, including manufacturing PMI and Friday’s jobs report. These figures will influence whether the US Federal Reserve cuts rates by 25 or 50 basis points in September.
Analysts at Panmure Liberum believe the UK will outperform other major economies in the coming months, thanks to stronger domestic demand.
Recent PMI data shows the UK saw growth in output and new orders in August, unlike the US and other major European economies.
Taylor Swift sets new Wembley record and adds £1bn to the UK economy Pop superstar Taylor Swift concluded her European Eras Tour with a record-breaking…
Interest rates expected to be held at 5.25% On Thursday, the Bank of England is expected to hold interest rates steady at 5.25% for the…
New statistics from the ONS show the UK economy grew slightly in February, boosting hopes the country is on its way out of recession. The economy grew by 0.1% official figures show, boosted by production and manufacturing in areas such as the car industry,
UK economy: No overall improvement for business in Q1 The UK’s economy hasn’t gotten better for businesses in the first part of this year. A…
The lead for the London business newspaper CITY AM, reports that the UK economy is set to take its first steps out of recession this week with GDP figures for January expected to show a return to growth.
“We don’t think we should be implementing certain tax cuts now, essentially that are paid for by uncertain spending cuts that might never be delivered,” IFS deputy director Carl Emmerson said.
Surge in pension fund buying drives revival in UK corporate bond market Pension funds are piling into UK corporate bonds, encouraging some French and German…
IMF: Germany to be weakest major economy in 2024 while UK downgraded again The International Monetary Fund (IMF) now predicts that Germany, not the UK,…
Lower cost of tea eases January price rises The latest report from the British Retail Consortium (BRC) reveals that shop prices increased at the slowest…
Bank of England to leave interest rates on hold as UK economy on brink of recession Economists anticipate that the Bank of England will keep…
UK economy off to promising start in 2024 as business activity rises again The UK economy’s private businesses are picking up speed for the third…
Latest official figures reveal that government borrowing in December was lower than expected, at £7.8bn, according to the Office for National Statistics.
These are the customer favourites that have been getting smaller.
Wage growth slows again as job market stall UK wage growth slowed in the job market, but it’s still higher than the rising prices, says…
UK economic growth rebounds in November The UK’s economy rebounded in November after shrinking during the previous month, according to official figures. The economy grew…
UK economy shrank by more than expected in October In October, the UK economy contracted more than anticipated, with growth hampered by elevated interest rates…
Autumn Statement 2023: What are the key points? Chancellor Jeremy Hunt has delivered his Autumn Statement in the House of Commons. The Statement sets out…
UK growth forecasts downgraded for next two years The Office for Budget Responsibility (OBR) has said the UK economy will grow much more slowly than…
UK economy flatlines as higher interest rates bite New figures reveal the UK economy failed to grow between July and September after a succession of…
Interest rates expected to be held after small economic growth The UK economy grew marginally by 0.2% in August following a sharp fall in July.…
UK on track for record tax levels, IFS think tank says BBC Business says The government is on course to oversee the biggest tax-raising Parliament…