Service sector sees longest run of job losses in 16 years February 4, 2026 A new survey suggests that the UK service sector has endured its longest sustained period of job losses in 16 years, despite rising business activity at the start of the year. Employment in the service sector has decreased in each month since October 2024, according to S&P’s purchasing managers’ index (PMI), with the pace of [...]
No growth expected for November due to late Budget January 12, 2026 New GDP figures this week will show zero growth in the UK economy as weeks of uncertainty around the Budget weighed down on activity in November, according to economists. A Bloomberg poll of economists predicted the Office for National Statistics (ONS) to write in zero GDP growth in the second last month of the year. [...]
UK economy grew 0.1 per cent in August October 16, 2025 The UK economy grew by 0.1 per cent in August, Office for National Statistics (ONS) figures have shown, with a struggling construction sector in the month weighing down on output across the UK. The ONS data indicated on Wednesday morning the UK economy was set for a significant slowdown after an upswing in spending over [...]
‘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 [...]
UK economy sees fastest services orders slowdown since Liz Truss August 5, 2025 Hopes of a quick recovery to the UK economy are fading as orders in the services sector fell at the fastest rate since Liz Truss’ mini-budget in late 2022, fresh data has suggested. S&P Global’s latest composite purchasing managers’ index (PMI) showed a fall from a score of 52 in June to 51.5, which remains [...]
UK services sector in ‘fragile recovery’ as employment fears linger June 23, 2025 The UK services sector expanded in June, despite tax hikes and a drop in employment across the UK economy, new figures have suggested. The double whammy of President Trump’s tariffs and Chancellor Reeves’ tax increases in April lowered confidence levels among businesses, with official data showing the UK economy contracted by as much as 0.3 [...]
US services growth ‘stalling’ as recession looms large May 5, 2025 Donald Trump’s tariffs are having a knock-on effect on growth in the US services, fresh data has suggested, as market uncertainty prompts business leaders to delay investment decisions. The US president’s trade policies have confused firms in the sector despite exemptions from taxes on imports, S&P Global said on Monday. April saw its lowest level [...]
UK services sector ‘driving force’ behind growth, BDO says April 7, 2025 The UK’s services sector is the “driving force” behind marginal growth gains, research by the consultancy BDO has suggested, as other sectors’ performance has become increasingly lacklustre. Chancellor Rachel Reeves has been urged to ease cost pressures on firms as her £25bn national insurance tax hikes, coming into effect this week, have weighed down on [...]