UK economy to ‘reverse gains’ as construction drags growth Economics 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 [...]
World Cup boost fails to land UK services sector on front foot Economics 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. [...]
Hiring intentions at lowest level in nearly 15 years Markets British businesses are the most pessimistic about hiring they have been in nearly 15 years, according to consultancy firm BDO. UK bosses are facing difficult hiring decisions as the cost of employment ramps up, with the BDO’s employment index at its weakest reading since March 2011. The index, which reflects hiring intentions, held at 93.30 [...]
Birmingham driving service sector boom February 26, 2026 Birmingham has been at the front of a “service sector boom”, according to new research from Oxford Economics, helping to drive job creation across the wider region. The West Midlands combined authority (WMCA), which contains Britain’s second city, saw gross value added (GVA) in the services sector rise by an average of 4.2 per cent [...]
Services sector rebound expected to help economy limp towards growth February 10, 2026 Rachel Reeves is set to breathe a minor sigh of relief at the sight of new economic data this week with the UK economy expected to have limped towards growth in December. A survey of City economists by Bloomberg had projected a 0.1 per cent expansion in December and 0.2 per cent for the fourth-quarter. [...]
Jobs losses continue in service sector despite ‘rebound’ in UK growth December 16, 2025 Jobs across the services sector declined in December despite some signals of a “rebound” across the UK economy in new survey data. Analysts at S&P Global said staffing numbers across UK firms continued to drop as the year drew to a close due to “intense cost pressures”. The services sector suffered the most significant drop [...]
‘Subdued’ services sector suffers steep drop as tax hikes bite October 3, 2025 Business activity expansion fell to a five-month low after a “subdued” services sector experienced a dull end to the third quarter. S&P’s UK Services Purchasing Managers Index Business Activity tumbled to 50.8 in September, falling steeply from the 16-month high of 54.2 secured in August. “This summer’s acceleration in output growth is now looking like [...]
UK economy stalls with 50,000 job losses ahead of Autumn Budget September 23, 2025 The UK economy was hit by a “litany of worrying news” in the three months to September with thousands of jobs lost ahead of Rachel Reeves’ second Autumn Budget. The latest ‘flash’ PMI from S&P Global showed business activity expectations for the year ahead slumped to a three-month low in September as firms braced for [...]
Services lead ‘fragile and uneven’ business activity rebound August 21, 2025 Business activity in the UK’s private sector enjoyed its strongest rebound in a year this month, but economists have cautioned the growth remains “fragile and uneven.” S&P’s Global flash UK composite purchasing managers’ index (PMI) reached 53.0 in August, up from 51.5 in July and marking the highest score in 12 months. Any score above [...]
Goods now make up just 40 per cent of UK exports July 28, 2025 The proportion of UK exports made up of goods has sunk to a record low, with the economy ever more dependent upon services. That’s according to analysis done by the Financial Times based on Office for National Statistics (ONS) data, which found that goods now account for just 40.8 per cent of exports. Back in [...]