Four interest rate hikes loom despite surprise economic growth September 11, 2026 The Bank of England is expected to hike interest rates as many as four times within the next year, City figures have said, after the economy delivered surprise growth in July. The central bank is expected to be buoyed by this morning’s GDP figures, which saw the UK economy grow by 0.4 per cent in [...]
UK economy grew unexpectedly after Burnham took over as Prime Minister September 11, 2026 The UK economy had surprise growth in the month Andy Burnham became Prime Minister. Official figures from the Office for National Statistics (ONS) have revealed GDP expanded 0.4 per cent in July, racing ahead of City economists’ forecast of zero growth. This was led by 0.4 per cent growth in the UK’s mammoth services sector, [...]
Healey oversees unexpected rise in borrowing in first month as Chancellor August 21, 2026 John Healey oversaw an unexpected deficit in the public finances in his first month as Chancellor, according to new data, in a sign the government may be more restricted than first thought ahead of its first budget. New figures released on Friday showed that government borrowing hit £1.8bn in July. Markets had expected the Office for [...]
War and tax: How the UK economy could get knocked off course August 13, 2026 Labour ministers may have some reason to be cheerful about the UK economy’s performance. Torsten Bell, the pensions minister who has long desired top jobs in the Treasury, lambasted “gloomsters” shortly after official data revealed growth in the second quarter of the year was 0.4 per cent. Even Rachel Reeves, who has remained largely silent [...]
UK economy weathers Iran war shocks but slowdown incoming August 13, 2026 The UK economy grew 0.4 per cent between April and June, official data has revealed, in a sign that businesses and consumers have so far weathered the worst shocks of the war in Iran. The growth figure from the Office for National Statistics was in line with analysts’ expectations but came alongside a surprise boost [...]
As it happened: FTSE 100 drops as Antofagasta prompts miner sell-off; oil prices cool August 13, 2026 Welcome back to City AM liveblog. The FTSE 100 dropped on Thursday morning, as the mining sector dragged on the blue-chip index. Antofagasta has fallen furthest, by nearly five per cent, after investors pounced on a production shortfall and cut to full-year guidance disclosed in its update this morning. This spook has weighed on the [...]
UK economy to ‘reverse gains’ as construction drags growth August 11, 2026 The UK economy’s modest gains from the first half of the year are set to be reversed as the flagging construction industry is set to hammer growth prospects, economists have said. A poll of economists, tracked by Bloomberg, believe GDP contracted by 0.1 per cent in June, partly unwinding previous gains. Pantheon Macroeconomics analysts said [...]
As it happened: UK stocks cool after Astrazeneca drags; Trump and Iran clash over peace talks August 3, 2026 Welcome back to the City AM liveblog. The London stock market is starting the new week relatively mixed after Donald Trump hinted a deal between US and Iran on the Strait of Hormuz is near, but was contradicted by communication from Tehran. The US President has said that Saudi Arabia, the UAE, Qatar and Iran [...]
UK economy grows despite Iran war hit July 16, 2026 The UK economy grew marginally in May after strong performance in parts of the services sector helped soften the impact of Iran war and narrowly prevented a contraction. Fresh figures from the Office for National Statistics (ONS) have revealed the economy grew 0.1 per cent in May, broadly in line with market expectations. The services [...]
As it happened: Stocks drop on Trump-Iran warning; Mahmood tipped to be chancellor July 16, 2026 Welcome back to the City AM liveblog. The UK has received fresh economic growth data this morning which has put GDP expansion at a sluggish 0.1 per cent for the month of May. The services sector – which contributes more than 80 per cent of total economic output – grew 0.3 per cent against steep [...]