Latest news with #UKGDP
Bloomberg
2 days ago
- Business
- Bloomberg
FTSE 100 Live: UK Economy Shrank More Than Expected in April
UK GDP fell 0.3% monthly in April, more than expected. Economists had expected the UK economy to contract by 0.1%.
The Guardian
2 days ago
- Business
- The Guardian
UK GDP report to show if economy kept growing in April
Update: Date: 2025-06-12T05:35:44.000Z Title: Introduction: UK GDP report coming up Content: Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. We're about to learn how the UK economy fared during 'Awful April'. The latest GDP report, due at 7am BST, will show whether or not the UK managed to keep growing during a month dominated by Donald Trump's trade war, which also brought a jump in bills for consumers, and the rise in employer national insurance contributions. Economists predict a slowdown – indeed, the consensus forecast among City number crunchers is that GDP fell by 0.1% in April. That would be a disappointment, after the UK economy made a decent start to 2025, growing by 0.7% in the first quarter of the year. Deutsche Bank predict the economy stagnated in April, with their chief UK economy Sanjay Raja explaining: By all accounts there are likely to be some volatile swings – particularly when it comes to manufacturing. Some negative pay-back in the services sector too, we think, is very possible. The good news? Better weather will have likely helped output in general, especially within consumer-facing services. So far this year, the UK economy was flat in January, then grew by 0.5% in February, and by 0.2% in March. Investors will also be digesting yesterday's UK spending review, in which chancellor Rachel Reeves outlined billions of pounds of infrastructure spending. Health and defence were the priority, but other areas will face a tough squeeze on funding. 7am BST: UK GDP report for April 7am BST: UK trade balance for April 1.30pm BST: US weekly jobless claims report 1.30pm BST: US PPI index of producer prices for May
Times
03-06-2025
- Business
- Times
UK's economic growth prospects to get verdict from OECD — follow live
Good morning and welcome to our live business coverage. The Organisation for Economic Cooperation and Development (OECD) will give its latest forecast on Britain's growth prospects at 8am. In March, the OECD, which represents 38 advanced economies, downgraded UK GDP growth this year and next due to escalating tariff wars. It forecasts growth would be 0.3 percentage points lower than forecast this year at 1.4 per cent in 2025 and 0.1 percentage points lower next year at 1.2 per cent. Inflation forecasts were unchanged at 2.7 per cent this year and 2.3 per cent in 2026. Trade tensions have eased since then, but have started to ratchet up the end of last week. Andrew Bailey, the governor of the Bank of England, will give evidence before the House of Commons Treasury Select Committee about last month's interest rate decision and monetary policy report at 10.15. The MPC was split, with five members voting to reduce rates to 4.25 per cent from 4.5 per cent. Two members backed a half-point cut due to global trade disruption and lower energy prices, while another two voted to leave borrowing costs unchanged. • Commercial landlords have been warned they may have to repay 'massive' sums received from insurance commissions after a High Court judge told the owner of London's Trocadero Centre to return payments to a tenant.• The pay of Stuart Machin, Marks & Spencer's boss, climbed to £7.1 million thanks to an improved performance at the retailer before a cyberattack that is expected to hit profits by £300 million.• The government's plan to build up to 12 attack submarines and invest £15 billion in its nuclear warheads programme has boosted shares in UK defence companies.• House prices rose more than expected in May and are now back to within a whisker of the record reached three years ago, with April's decline looking increasingly like a blip.• The world's largest private equity firms could hold the key to London's efforts to jump-start its flagging IPO market, City sources believe.
Telegraph
15-05-2025
- Business
- Telegraph
Live UK economy grew more than expected ahead of Trump tariffs
Britain's economy grew more than expected in the first three months of the year, official figures show, as businesses braced for Donald Trump's tariff raid. UK gross domestic product (GDP) expanded by 0.7pc in the first quarter of 2025, according to the Office for National Statistics. Economic growth was stronger than the 0.6pc that had been predicted by analysts and well up on the 0.1pc experienced in the final three months of 2024, in a boost for Sir Keir Starmer. It came as business activity picked up in the lead up to Donald Trump's 'liberation day' tariffs on April 2, with the economy expanding by 0.2pc in March. Closely watched PMI data had shown that UK business activity hit its highest level in five months in March. The American economy shrank in the first three months of the year as US companies ramped up imports, which count against GDP projections. Exports add to economic growth estimates.
