UK services sent into decline amid ‘market turbulence’ May 6, 2025 UK output was sent into decline by “market turbulence” in April for the first time in one and a half years, prompting fears that Chancellor Reeves’ £40bn tax raid last autumn was damaging the country’s services economy. The services sector, which is seen as the engine behind UK growth, had been on a 17-month winning [...]
Dire economy needs lifesaving surgery, before it’s too late April 24, 2025 When Rachel Reeves became Chancellor last summer, the biggest issue facing her was the existence (disputed by the Tories) of a £22bn black hole in the public finances. The political pain of cutting the winter fuel allowance was deemed necessary to balance the books and give the new government a clean sheet of paper on [...]
UK services and composite PMIs underwhelm economists April 3, 2025 The UK service sector saw a “modest expansion” in March but economists overestimated S&P Global’s purchasing managers’ index (PMI) readings for the month. S&P Global’s latest composite PMI reading, which takes an average of manufacturing and services output for the month, came in at 51.5. The figure points to a slight expansion in UK output [...]
UK construction output plummets to five-year low March 6, 2025 The UK’s construction output hit a five-year low in February as its fastest downturn since May 2020 continued. S&P Global’s UK Construction Purchasing Managers Index dropped to 44.6 in February, down from 48.1 in January. The latest figure indicated a steep decline in overall construction activity was propelled by a sluggish performance in residential buildings, [...]
UK jobs cuts accelerate as firms fret over stagflation March 5, 2025 UK service firms are cutting jobs at the sharpest rate since November 2020 as fears about the state of the economy spread. S&P Global’s latest UK Services PMI, which measures business activity in the services sector, found that 24 per cent of firms cut their employees in February, compared to only 13 per cent which [...]
NHS delays drive demand for private healthcare to record March 4, 2025 Private healthcare market has broken yet another record, with private hospital admissions hitting their highest Q3 on record
A win on the world stage masks mounting trouble at home March 4, 2025 Keir Starmer has won plaudits for his decision to increase defence spending (albeit by less than the amount he’s given Ed Miliband to run a pretend energy company) and voters appear to be firmly behind the PM’s decision to fund this modest splurge by raiding the international development budget. The latest City AM Freshwater Strategy [...]
Manufacturing job cuts accelerate ahead of national insurance hike March 3, 2025 Activity in the UK’s manufacturing sector dropped to its lowest level in fourteen months, a new survey has revealed, with lower demand and weak confidence plaguing the industry. The S&P’s manufacturing purchasing managers’ index (PMI) showed downturns deepened as firms braced for changes made in the Government’s budget to be enacted. The index stood at [...]
Budget costing jobs and pushing up inflation, survey suggests February 21, 2025 Excluding the pandemic, employment fell at the fastest pace since the global financial crisis, the survey suggested.
UK construction activity falls sharply as confidence plunges February 6, 2025 UK construction activity fell sharply in January, ending a 10-month streak of expansion as higher borrowing costs, gloomy economic prospects and weak client confidence hit the sector. S&P Global’s UK Construction Purchasing Managers Index fell to 48.1 last month, down from 53.3 in December and well below the 53.4 expected by analysts. “The overall construction [...]