UK economy grows just 0.1 per cent following Budget January 16, 2025 Economic momentum has ground to a halt since Labour took office while business confidence has also fallen sharply, particularly in the wake of October's Budget.
Brexit, Trump tariffs and China set to weigh on UK trade January 13, 2025 UK trade will only grow by 0.7 per cent annually between 2023 and 2033, according to new projections from Boston Consulting Group (BCG).
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ January 9, 2025 Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]
How will the UK economy perform in 2025? January 7, 2025 The economy has shown few signs of life since June and business surveys since October's Budget have painted an incredibly bleak picture of the year ahead.
How much will the UK economy grow in 2025? December 31, 2024 At the beginning of the year, most forecasters expected that the UK would suffer another year of stagnation.
Bank of England may be forced to prioritise growth in 2025 December 19, 2024 Despite inflation continuing to be a headache for the Bank of England, leading it to hold interest rates today, the central bank may end up being forced to make more cuts than it would like in 2025 to salvage the UK economy. While today’s decision from Andrew Bailey’s Monetary Policy Committee to hold rates had [...]
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 [...]
UK economy to ‘grow twice as fast’ as Europe in 2025 December 5, 2024 The UK economy is set to grow twice as fast as its European counterparts next year thanks to the flurry of spending measures announced in October’s Budget, a top bank has forecast. Britain’s gross domestic product (GDP) will increase by 1.4 per cent next year, analysts at ING said in the bank’s annual economic outlook, [...]
Businesses will ‘lick their wounds’ after Budget, even if growth picks up December 5, 2024 The BCC said the upgrades were driven by "increased levels of government spending" following the Budget.