Browsing: UK economy

Wage growth eases again in boost for rate cut hopes Wage growth eased in line with expectations, new figures show,…

UK economy returns to growth in August after two stagnant months The UK economy grew in August after two months…

New figures show UK economic growth weaker than first thought Growth across the UK economy was weaker than previously thought…

Interest rates UK latest: Bank of England set to reveal next decision The Bank of England is widely expected to…

UK wage growth slows – will interest rates fall? UK wage growth slowed in the three months to July, as…

UK ‘needs £1tn investment over 10 years to hit economic targets’ The UK needs £1tn of fresh investment over the…

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.

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.