Economy News

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US President Joe Biden Arrives in UK Ahead of G7 Summit

US President Joe Biden arrived in the UK yesterday ahead of the G7 Summit in Cornwall on Friday. Today, Mr Biden will meet with UK Prime Minister Boris Johnson to discuss pressing issues such as the resumption of US/UK travel and the Northern Ireland protocol, signing a new Atlantic charter.
UK economy expected to grow faster than the US

Global economy set for record recession recovery

The World Bank's half-yearly Global Economic Prospects report has reported that global economic recovery will rebound at the fastest rate in 80 years due to coronavirus vaccines and government support. However, data also indicates a growing divide between rich and developing nations as political leaders plan to deliver further vaccines to low-income countries.
Financial market regulations

Experts question the G7 deal on global minimum tax

For decades, multinational corporations have abused gaps in the international tax system to avoid paying higher tax. Over the weekend, G7 finance ministers struck a landmark agreement on global tax reform but experts have warned of the loopholes in the new historic agreement...

UK Services PMI hits 24-year high amid Spring economic high

New data from IHS Markit has revealed that the UK economy is roaring back to life. Britain's Services PMI hit a 24-year high as pubs, bars and restaurants reopened after months of coronavirus restrictions, but concerns over higher inflation are mounting as the price of goods increases...

UK economy enjoys an unprecedented growth spurt in May

Britain’s economy recorded the fastest growth in two decades in May as demand for UK goods and services increased. Flash US PMI also impresses. The UK economy had an "unprecedented growth spurt" in May after months of coronavirus lockdown restrictions, says...
UK wealth growth chart

UK private sector records fastest growth in over two decades

UK recovery appears to be well underway as Britain’s retail sales surged in April as COVID restrictions on non-essential retail stores were lifted.
inflation graph on laptop screen

FTSE 100 tumbles as UK inflation rate doubled for April

FTSE 100 sank below 7,000 after UK inflation more than doubled in April. Pound Sterling edges lower and remains vulnerable to rising inflation.
panoramic view of a UK city

Brexit – The impact on the UK economy and British expats

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UK economy to suffer a £700BN output loss due to COVID-19 and Brexit, with the latter also impacting UK financial services sector and British expats. According to the National Institute of Economic and Social Research (NIESR), Britain is facing the worst damage than any other leading economy due to...
US oil prices fall to below $0 a barrel for the first time ever and commodities are affected

Everything You Need to Know About The Oil Price Collapse

Last year saw oil prices tumble to a new low, which had a chaotic effect on currencies. Discover everything about the oil price collapse here.
UK economy expected to grow faster than the US

UK economy could grow faster than the US economy

Goldman Sachs and Barclays believe the UK economy is set to outpace the US economy in 2021, predicting the biggest economic boom since WWII. Goldman Sachs highlighted April's better-than-expected flash PMI reading and the stronger-than-expected jump in UK Retail Sales data for March to support their argument that Britain will grow faster than the US economy this year.

UK Economy Set for Very Rapid Growth Say Bank of England

The UK economy has seen a significant rise in consumer spending during April following the reopening of business, paving the way for a sharp economic recovery. The Bank of England (BoE) Deputy Governor, Ben Broadbent, has stated that Britain's economy will experience 'very rapid' growth over the coming quarters due to...
UK Economy

UK Economy on the Rise Following strong Retail Sales and PMI Data

The UK economy is on the road to recovery following the reopening of non-essential businesses last week and the release of positive retail sales and PMI data this morning. The Office for National Statistics (ONS) has revealed that UK retail sales for March rose by 5.4% month on month, substantially higher than...

UK Inflation Driven by Rising Petrol Costs

UK inflation rose during March, and whilst just under economists’ expectations, economists expect inflation will rise further as coronavirus restrictions continue to ease and the economy is unlocked, with pent-up consumer demand for goods and services
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UK on course for strong Q2 following economic slump in January

Following a difficult start to 2021, the UK looks poised for a sharp economic recovery in Q2 as businesses reopen in April.
US economic outlook (GDP)

UK economy to be fuelled by consumer spending boom

April is expected to experience a sharp surge in consumer spending which looks to fuel the UK economy and provide a strong Q2.
UK unemployment rate beats forecasts

UK unemployment rate beats forecast and falls to 5%

The UK labour market improved slightly in February and the unemployment rate fell back to 5%. One-third of small businesses are still in fear of going bust.
Riski Sunak Budget

Budget 2021 key points: Rishi Sunak’s COVID-19 recovery plan

What you need to know about Rishi Sunak’s UK Budget 2021 - furlough extension, self-employed grants, tax hikes and restart grants for businesses. Read our complete review of the March 2021 UK Budget and how it impacts both business and people individually...

UK consumer confidence at highest level since pandemic

UK economic outlook is continuing to improve as its revealed the UK consumer confidence has risen to its highest level since the start of the coronavirus pandemic.