11-07-2025
UK GDP report to show if economy returned to growth in May
Update:
Date:
Title: Introduction: UK's May 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 discover how the UK economy fared in May, the month in which Britain became the first country this year to agree a trade deal with Donald Trump.
Economists predict the UK economy grew slightly in May, by 0.1%, after a disappointing 0.3% contraction in April.
The government will be hoping for signs that activity picked up in May, given the push for growth. The data is due at 7am UK time.
Victoria Scholar, head of investment at interactive investor, says:
April's decline was caused by a drop in legal activities linked to the stamp duty increase. Plus, higher energy bills, the National Insurance increase and tariff uncertainty took their toll.
After an unfortunately timed cluster of headwinds in April, it appears as though the only way is up. Consumer sentiment is already showing signs of improvement and Friday's GDP data could add to the cheerier mood, with the potential for a rebound in activity, particularly in the key services sector. Plus, anticipation of easier monetary policy is helping to boost sentiment and the real economy. The Bank of England lowered interest rates in May with the market anticipating two more cuts this year.'
7am BST: UK GDP report for May
7am BST: UK trade balance for May
9am BST: IEA's monthly oil market report
2pm: Russia's trade balance for May
Update:
Date: 2025-07-11T05:43:33.000Z
Title: Trump threatens 35% tariffs on Canadian goods
Content: Overnight, Donald Trump's trade war has taken another twist.
The US president has announced his will impose a 35% tariff on imports from Canada next month and threatened to impose blanket tariffs of 15% or 20% on most other trade partners.
In a letter released on his social media platform, Trump told Mark Carney, the Canadian prime minister, the new rate would go into effect on 1 August and would increase if Canada retaliated.
Update:
Date: 2025-07-11T05:40:15.000Z
Title: Introduction: UK's May 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 discover how the UK economy fared in May, the month in which Britain became the first country this year to agree a trade deal with Donald Trump.
Economists predict the UK economy grew slightly in May, by 0.1%, after a disappointing 0.3% contraction in April.
The government will be hoping for signs that activity picked up in May, given the push for growth. The data is due at 7am UK time.
Victoria Scholar, head of investment at interactive investor, says:
April's decline was caused by a drop in legal activities linked to the stamp duty increase. Plus, higher energy bills, the National Insurance increase and tariff uncertainty took their toll.
After an unfortunately timed cluster of headwinds in April, it appears as though the only way is up. Consumer sentiment is already showing signs of improvement and Friday's GDP data could add to the cheerier mood, with the potential for a rebound in activity, particularly in the key services sector. Plus, anticipation of easier monetary policy is helping to boost sentiment and the real economy. The Bank of England lowered interest rates in May with the market anticipating two more cuts this year.'
7am BST: UK GDP report for May
7am BST: UK trade balance for May
9am BST: IEA's monthly oil market report
2pm: Russia's trade balance for May
