News
UK economy contracts for first time since last August
4+ hour, 11+ min ago (581+ words) Britain's economy contracted last month for the first time in eight months amid signs that the Iran war is beginning to take its toll on some sectors. The Office for National Statistics (ONS) said gross domestic product (GDP) declined by…...
Inflation holds steady at 2. 8% as food price rises ease
3+ day, 39+ min ago (626+ words) UK inflation unexpectedly flatlined last month as a slowdown in food price rises offset pressure from airfares, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation was recorded at 2. 8% in May, the same…...
Cities where average price tag on a home has jumped highest in past decade
4+ day, 10+ hour ago (887+ words) Manchester has been identified as Britain's top hotspot for growth in average asking prices for homes in cities over the past decade. London languishes at the bottom of the list of percentage increases, compiled by property website Rightmove. The percentage…...
UK economy to grow 0. 9 this year but outlook cut for 2027 " OECD
2+ week, 2+ day ago (444+ words) The UK economy is set for stronger growth than previously expected this year but saw its outlook cut for 2027 amid concerns over the continued impact from the war in Iran, new forecasts have shown. The Organisation of Economic Co-operation and…...
Inflation target should not be increased, says Bank governor
2+ week, 3+ day ago (359+ words) The Governor of the Bank of England has said the Bank should not increase its inflation target, stressing that it is important to give households confidence it can bring down the rising cost of living. Andrew Bailey also told members…...
Unemployment rate rises and vacancies slump in first signs of Iran war jobs hit
4+ week, 9+ hour ago (639+ words) Britain's unemployment rate has risen and vacancies tumbled to a five-year low in the first signs of the Iran war taking its toll on an already under-pressure jobs market. Official figures showed the jobless rate rose unexpectedly to 5% in the…...
UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut
2+ mon, 5+ day ago (878+ words) The UK has suffered the sharpest cut to growth forecasts of the largest global economies after the conflict in the Middle East raised the prospect of a "major energy crisis, according to the International Monetary Fund (IMF). The influential financial…...
Minister plays down job losses as Chancellor prepares to commit to AI drive
3+ mon, 3+ day ago (462+ words) Embracing artificial intelligence will not lead to job losses "overall, a Treasury minister has said as Rachel Reeves prepares to commit the UK to accelerating adoption of the technology. The Chancellor is expected to pledge the UK to "the fastest…...
Lower net migration could hold back UK growth potential, OBR finds
3+ mon, 2+ week ago (308+ words) Lower net migration in the UK could reduce population growth and hold back the country's economic growth potential, the OBR said (Maja Smiejkowska/PA) The Office for Budget Responsibility (OBR), the Government's official forecaster, said its forecast for net migration…...