UK Economy

A string of UK economic growth figures have roundly beat expectations, but the British Pound has found little comfort and is likely to remain under pressure over the coming days.

The UK will avoid recession but is likely to contract in the third quarter of this year, says PwC.

Clear evidence of a consumer downturn has been offered up by the CBI, which reports that retail sales tumbled for a sixth consecutive month.

The British Pound edged higher against the Euro and Dollar as an initial reaction to a better-than-expected labour market survey, but moves will likely be limited ahead of the PMI survey release due at 09:30 BST.

One of the UK's most accurate economic forecasters says UK house prices look set to experience a strong rebound in 2024 as a result of falling mortgage costs and improved household balance sheets.

The British Pound can remain under pressure against both the Euro and Dollar after UK retail sales came in at softer levels than expected, confirming the UK economy continues to slow.

A major UK-based bank has upgraded its UK growth forecasts following the sizeable revisions recently announced by the ONS and the economy's resilient performance in the first half of 2023.

The British Pound will remain under pressure against the Euro, Dollar and other major currencies with news UK inflation has come in at higher levels than markets were expecting likely to only offer limited upside, if any.

The British Pound was softer against the Euro and Dollar after the release of UK wage data that hints the labour market continues to cool and will help bring down inflation over the coming months, in line with the thinking at the Bank of England.

The British Pound looks to defend a run of small daily gains against the Euro and a more pronounced short-term rebound against the Dollar but will find little assistance from uninspiring GDP data.

The UK's labour market remained soft in September according to a key survey, however, there are also emerging signs that a recent soft patch for the sector could be about to come to an end, which could potentially send alarm bells ringing at the Bank of England.

There was a small, albeit clear, rise in the value of the Pound against the Euro and Dollar following the announcement of a sizeable upgrade to the UK's PMIs for September, which suggests the economy did not fare as poorly as previously thought.

A Bank of America survey of UK consumers shows an uptick in confidence this September, amidst a steadying unemployment rate and expectations for improved personal finances.

The ONS upgraded its previous estimates for the growth in the UK economy following the introduction of more accurate measurements and revealed households saw an uptick in real disposable income.

A monthly survey of UK businesses reveals that firms continue to expect to raise prices and offer wage increases, evidence that domestic inflationary pressures will likely remain elevated.

Manufacturers reported that output volumes declined more quickly than expected in the three months to September, according to the CBI’s latest Industrial Trends Survey.

The British Pound extended a multi-week decline after survey data revealed the UK economy saw a marked slowdown in September that exceeds anything seen since the Covid lockdown period.

The UK consumer hasn't been this confident in 20 months according to the latest GfK consumer confidence survey which surprisingly improved by 5 points to read at -21 in September.

Retail sales data showed volumes are estimated to have risen by 0.4% in August 2023, partially recovering from a fall of 1.1% in a weather-impacted July, but this was still below the analyst forecasts for growth of 0.5%, reinforcing a sense that the UK economy is stalling.

Can inflation continue to fall, in line with the Bank's own forecasts, and therefore ultimately justify growing expectations that the Bank is about to end the hiking cycle?