UK Economy

The UK economy contracted in March as the services sector recorded a slump amidst wet weather and ongoing public sector strikes and it will only be in the third quarter that economists expect to see a more notable recovery building.

The GfK Consumer Confidence Barometer posted a third consecutive monthly gain in April as it reached its highest level since February 2022.

The Pound to Euro exchange rate could struggle to hold a small weekly advance after UK retail sales figures disappointed.

The British Pound jumped against the Euro, Dollar and the majority of its peer currencies after a flush of stronger-than-expected UK inflaton figures that seal another interest rate hike at the Bank of England in May.

The UK reported another strong set of labour market statistics that will maintain pressure on the Bank of England to raise interest rates again in May, however, signs of a slowdown are becoming increasingly clear say some economists.

Searingly hot wage data will keep pressure on the Bank of England to raise interest rates further, which could in turn ensure the British Pound remains supported.

Economists at UK high street bank Barclays are forecasting inflation figures that will beat market expectations when released on Wednesday, however, Lloyds Bank's economists are looking for a "sharp decline."

The British Pound edged higher against the Euro and Dollar in the wake of UK economic growth data that confirms the UK economy is set to avoid recession in the first half of 2023.

The Bank of England's Chief Economist warned it could still be too soon for the Bank of England to pause its interest rate hiking cycle.

The UK's second-largest mortgage provider says UK house prices recorded a seventh consecutive monthly decline in March.

The UK economy grew in the final quarter of 2023 after the ONS revised higher its GDP figures, separate data meanwhile showed the UK's current account deficit shrank substantially in the quarter.

Business confidence is at a ten-month high, according to the Lloyds Bank business barometer.

The Bank of England's most recent interest rate hike could be the last as new survey data shows a sharp drop in inflation experienced at UK private sector businesses.

The British Pound was higher in the wake of UK CPI inflation that beat expectations in February and raised the prospects of further Bank of England interest rate rises.

The British Pound held its recent gains against the Euro and U.S. Dollar following the release of data that showed the UK's labour market remained 'tight', ensuring the prospect of another rate hike at the Bank of England on March 23.

The British Pound remained on a fragile footing against the Euro and Dollar following the release of UK GDP data that showed the economy grew 0.3% in January.

Chancellor Jeremy Hunt will have billions of extra pounds at his disposal when he announces the Spring Budget next week, which should afford him the chance to bring relief to certain households and sectors of the economy.

ONS labour market snapshot reveals high vacancy rate and upside pressures on wages, suggesting the Bank of England cannot end its rate hiking cycle imminently.

The UK's economic rebound in February was stronger than previously reported, according to the final PMI survey from S&P Global.

But the end of favourable tax incentives and a looming corporation tax rise means a recent recovery could prove fleeting.