KPMG: UK households plan to splash the cash in 2025 December 31, 2024 The positive picture from households contrasted with a more gloomy view about the state of the economy more broadly.
UK economy flatlined last quarter revised figures reveal December 23, 2024 The latest revised figures from the Office for National Statistics have revealed the UK economy did not grow in the third quarter of this year. The statistics watchdog had previously said the economy grew 0.1 per cent in the third quarter. However, according to the latest figures, the economy flatlined, leaving the UK with no [...]
Brexit hit to UK trade not as bad as first thought December 18, 2024 The negative impact Brexit had on UK trade may have been softened by big firms adapting to EU barriers, fresh research from a top London university has shown. A report from the Centre for Economic Performance, linked to the London School of Economics, found that “in the short run, aggregate trade proved moderately resilient” to [...]
Bank of England set to hold interest rates after inflation jump December 16, 2024 The Bank of England is poised to leave interest rates on hold this week after inflation rose more than expected.
UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
UK economy ‘at risk of stagflation’ as growth stalls under Labour December 13, 2024 Latest official GDP figures show the UK economy has stopped expanding since Labour took power, creating a headache for Keir Starmer after putting growth at the centre of his government’s mission. The economy unexpectedly shrank by 0.1 per cent in October, according to new data from the Office for National Statistics. It missed economists’ expectations [...]
UK economy on ‘recession watch’ after unexpected contraction December 13, 2024 The UK economy shrank unexpectedly in October after a fall in production output and stagnation in the services sector ahead of the Budget. GDP fell 0.1 per cent during the month, data from the Office for National Statistics (ONS) showed. Economists had expected a return to modest growth of 0.1 per cent. It marks two [...]
US inflation ticks up as market holds breath for Fed cut December 11, 2024 US inflation ticked up to 2.7 per cent in November, a rise from 2.6 per cent in October and matching analyst expectations. This was the highest level of inflation that the US has experienced since July, after dipping to as low as 2.4 per cent throughout September. Inflation has not been below its 2 per [...]
Reeves promises ‘deeper, more mature’ economic relationship with EU December 9, 2024 Rachel Reeves has pledged to build a “deeper, more mature relationship” with European trading partners in the first speech by a UK chancellor to eurozone finance ministers since 2020. Speaking to the Eurogroup in Brussels on Monday, Reeves also brushed off the suggestion that Britain must choose between closer ties with the US and EU [...]
US likely to fall into recession under Trump, top economist warns December 9, 2024 The US is likely to fall into recession during Donald Trump’s second term if he makes good on his campaign promises, a leading economist has predicted. Paul Mortimer-Lee, a research fellow at the National Institute of Economic and Social Research (NIESR), said growth in the world’s largest economy could slump if the president-elect follows through [...]