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 [...]
UK services jobs decline on ‘longest streak’ since financial crash June 4, 2025 Sliding employment levels in the UK service sector over the last eight months amount to the “longest streak” since the 2008 financial crash – barring the pandemic – according to S&P Global analysts. UK firms are facing intense pressure to maintain profit margins after a labour costs surge following Chancellor Reeves‘ tax raid on employers’ [...]
UK economy shows early signs of recovery after ‘Awful April’ May 22, 2025 The UK economy looks set to recover from a torrid month for businesses in which higher energy costs and employment tax rises kicked into effect, fresh data has suggested. S&P Global’s latest flash purchasing managers’ index (PMI) showed that the UK’s services sector has seen moderate growth in output in May while contractions in manufacturing [...]
UK construction crumbles in April as ‘bumpy ride’ continues May 7, 2025 UK construction endured another month of collapsing output in April, new research has suggested, in signs that a turnaround in the sector is still distant. The sector has now seen a decline in output over four consecutive months, according to S&P Global’s newest purchasing managers’ index (PMI). Civil engineering remained the weakest area of construction [...]
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 [...]
Manufacturing edges towards year of decline amid ‘noticeable impact’ of tariffs May 1, 2025 UK manufacturing’s falling production levels show no signs of ending as the spectre of tariffs brings a “noticeable impact” on exporters’ sales, leading analysts have said. Firms have had to navigate through sticky inflation and high energy costs for the best part of three years as the UK’s weakened economy has failed to bounce back [...]
Firms scramble to ‘protect bottom line’ amid low growth April 16, 2025 Firms across the UK are putting in “hard work” to limit cost pressures and maintain profits amid low growth, one of the country’s biggest banks has said. Chancellor Rachel Reeves’s aggressive tax hikes at her last Autumn Budget have piled higher employment costs on businesses large and small, threatening to kill off some companies by [...]
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 [...]
UK manufacturing woes deepen as industry ‘hit on several fronts’ April 1, 2025 The latest S&P Global’s UK Purchasing Managers’ Index (PMI) shows that UK manufacturing’s woes have deepened. S&P Global’s latest PMI survey, which asks around 600 industrial companies about their performances, suggests that manufacturing is again in the downturn following a poor start to the year. The latest figure showed that it decreased to 44.9, which [...]
UK economy continues recovery as services sector hits highest level of growth in a year May 3, 2024 The UK services sector saw a spike in new orders in April but cost pressures also increased at the fastest rate since August.