UK economy

Brexit 10 years on: UK exporters still adjusting to life outside the EU

A Jul 22 EU-UK summit aims to seal a deal to ease non-tariff barriers from mid-2027

Price growth in the services sector – which is monitored for signs of domestic pressures – still climbed to 3.7 per cent, more than forecast.

UK inflation unexpectedly holds steady at 2.8% in May

Inflation was held down by food and non-alcoholic drinks

British households are increasingly prioritising going out and wellness over furniture or jewellery, and are willing to pay.

Britain’s inflation fears can be found in its pubs and cafes

Services inflation has been running at an average of 4.5 per cent over the last 12 months

Britain's GDP declined 0.1% in April following gains in the previous two months, says the Office for National Statistics.

UK economy shrinks in April as Iran war starts to take its toll

It follows a bumper first quarter when Britain enjoyed strong growth

The job losses were led by Tesco, the UK’s largest grocer, which saw its UK and Ireland headcount drop by nearly 5,000 in its latest financial year.

UK’s biggest retailers cut 18,000 jobs amid rising taxes and wages

Massive layoffs show how the Labour government’s tax hikes are hitting the British’s top employers

By targeting supermarket prices alone, governments miss an opportunity to tackle the real causes of the affordability crisis.

The affordability crisis is about more than prices

Governments are responding to affordability concerns by negotiating retail price cuts, but results disappoint

The growth spurt in factories could help cushion an expected slowdown in the UK economy.

Growth spurt for UK factories will be short-lived, PMI shows

Pickup is likely to be brief as it is largely driven by businesses bringing forward purchases

Bank of England Governor Andrew Bailey have previously signalled they are in no rush to raise borrowing costs.

Bank of England’s Bailey says allowing inflation to run above target is appropriate

Keeping interest rates on hold was already affecting the economy, he said

A cargo ship docks at the Dammam Port in Saudi Arabia. Middle Eastern nations have been doubling down on trade with Asean and the broader Asian continent.

Asean will benefit from breakthrough trade deal between UK and Gulf states

Britain and the Middle East states have a shared interest in the Asian region

The survey will deliver a further blow to Starmer’s Labour government, which has struggled to deliver on its promise to boost economic growth.

UK private sector shrinks as Starmer crisis adds to Iran shock

S&P Global’s purchasing managers’ index dropped to 48.5 in May from 52.6 in April