Healey urged to cut business costs as consumer confidence slips Economics Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning that consumer confidence will continue to stumble without urgent action. The British Retail Consortium (BRC), which represents top retailers like Tesco, Sainsbury’s and Marks and Spencer, has urged the Chancellor to tackle the “triple blow” [...]
Services sector cuts jobs for nearly two years under cost pressures Economics Employment in the UK’s services sector dropped for the 23rd consecutive month in August as businesses maintained hiring freezes and trimmed headcounts following cost pressures. S&P’s latest Purchasing Managers Index (PMI) for the services industry – which is closely monitored by economists – revealed the sector has continued its longest continuous stretch of workforce reductions [...]
Manufacturing growth loses momentum as economic risks loom Industrials The manufacturing sector suffered a slowdown in growth over August as smaller firms struggled to clinch new orders. S&P Global researchers suggested growth in the manufacturing sector eased in August as the purchasing managers’ index (PMI) reading dropped from 51.9 in July to 51.7. The reading remains above the neutral 50 mark, indicating that activity [...]
UK economy’s rebound fails to stem two years of mass job losses August 21, 2026 A rebound in the UK economy over August has failed to turn around the country’s flagging labour market after nearly two years of job losses, new estimates have shown. Data tracked by S&P Global suggested the UK’s private sector grew at the fastest pace in four months in August despite concerns around business costs and [...]
Manufacturers overcome gloomy economy as output surge continues August 3, 2026 Manufacturers have overcome a gloomy economic outlook across the country as businesses boosted production to levels not seen in almost two years, new data has revealed. According to S&P Global’s monthly survey of output across manufacturers, business activity continued to increase in what was the ninth consecutive month of growth in the sector. The purchasing [...]
Construction sector cuts jobs again as house building slumps July 6, 2026 The construction industry shed jobs for the 18th consecutive month in June following “sharp declines” in house building and a slowdown in new home sales. The latest S&P Global Purchasing Manager’s Index (PMI) for the construction sector showed more cutbacks to employment with another period of “sustained job shedding”. Subcontractors were also hit by the [...]
World Cup boost fails to land UK services sector on front foot July 3, 2026 A World Cup boost failed to drag the UK’s services sector to growth last month after it recorded its fastest rate of decline in three-and-a-half years as businesses braced for the Andy Burnham coronation. The latest Purchasing Managers Index (PMI) from S&P Global showed a reading of 48.8 in June, falling from 49.3 in May. [...]
Stockpiling helps manufacturing sector power through Iran war blows July 1, 2026 The manufacturing sector has powered through the turmoil brought by the Iran war as output grew at the fastest pace in 21 months, according to a business survey. S&P Global researchers said that output growth accelerated as firms rushed to stockpile goods ahead of further expected trade turmoil in the Middle East. The overall purchasing [...]
Warning lights: UK services suffer worst shock since January 2023 June 23, 2026 Business activity across the UK economy is at a 14-month low, research has suggested, as growth has taken a toll from Labour’s political woes and the impact of the continued trade disruption. The initial estimate for S&P Global’s purchasing managers’ index (PMI) dropped to a score of 49.4 in June, falling further below the neutral [...]
‘Dire’: Rapid decline in construction as sector slashes jobs June 4, 2026 A rapid decline in construction companies’ activity has forced bosses to cut employment, according to new data. S&P Global’s construction purchasing managers’ index (PMI) showed that business activity declined at the fastest pace for six years. Putting the pandemic aside, the decline in construction output was the lowest since March 2009. The PMI reading was [...]