The UK economy posted a stronger-than-expected growth of 0.7% in Q1 2025, a significant uptick from just 0.1% in the previous quarter. This growth came despite subdued sentiment and ongoing global trade tensions. – Services led the expansion, rising by 0.7%, with both consumer- and non-consumer-facing sectors contributing. Notably, admin, support services, and wholesale/retail saw solid gains, though accommodation, food, […]
The UK economy is showing tentative signs of recovery, but underlying challenges continue to weigh heavily. GDP grew by 0.6% in the three months to February 2025, a modest improvement driven largely by the service sector. Manufacturing bounced back in February with a 2.2% uptick, but output remains below last year’s levels. Construction also nudged upward by 0.4%. Productivity, although […]
Contrasting sector trends, a shaky export environment, and cautious optimism in property markets shape the UK’s economic outlook. Diverging Fortunes Across Sectors The UK economy started 2025 on uncertain footing, with overall output dipping by 0.1% in January. The production sector faced the biggest setbacks, shrinking by 0.9% as mining, quarrying, and manufacturing activities declined. Mining and quarrying saw the […]
The UK’s economic growth for the final quarter of 2024 was slightly positive, showing a modest 0.1% increase in GDP. This marginal growth was better than the anticipated stagnant growth and marked a small step up from the previous quarters of the year. For the entirety of 2024, the UK economy expanded by 0.9% compared to the previous year, indicating […]
Diverging Economic Trajectories in the US and Eurozone In the last quarter of 2024, the economic fortunes of the US and eurozone diverged sharply. The US economy continued to demonstrate resilience, achieving a 0.6% growth in Q4 and a commendable annual increase of 2.8%, underpinned by strong consumer spending and sustained government expenditures. In contrast, the eurozone faced economic stagnation, […]
As we enter 2025, the UK economy is navigating through a complex landscape, marked by ongoing inflationary pressures, slowing growth, and heightened global uncertainties. The latter part of 2024 revealed significant economic challenges, but there are reasons for cautious optimism as we look ahead. Economic policies, particularly increased government spending, could spur some growth, but several key factors will determine […]
As the year ends, the UK economy finds itself at a crossroads, with growth slowing, confidence wavering, and global uncertainty adding to domestic pressures. The economy’s resilience is being tested by challenges across sectors, while policymakers and businesses adapt to an evolving landscape. This report delves into the key highlights of the UK and US economies, as well as the […]
Reeves’s Opening Remarks: Setting the Stage for National Renewal Rachel Reeves has announced her vision for a decade of “national renewal,” following the mandate for change that the UK electorate granted the Labour government. With the goal of putting “more pounds in people’s pockets” and raising living standards, Reeves emphasizes the need for an “invest, invest, invest” approach to drive […]
With the new UK government’s first Budget set for 30th October, UK Finance has explored the public finances they inherited and potential policy directions. The latest figures reveal borrowing is higher than expected, driven by increased spending on public services and benefits. This year’s borrowing is the third highest since 1983, and significant overspending in some departments points to difficult […]
Overview Since 31 July 2023, Consumer Duty has been effective for open products and services. The FCA granted an additional year for the application of the Duty to closed products and services, culminating on 31 July 2024. Industry Progress Firms across the industry have diligently reviewed their closed products, committing to ongoing evaluations. By the recent 31st July deadline, firms […]