Manufacturing downturn deepens as firms brace for national insurance rise Economics Activity in the UK’s manufacturing sector fell to its lowest level in nearly a year, a new survey shows, as businesses brace for the impact of the government’s first Budget. According to S&P’s manufacturing purchasing managers’ index (PMI), factory output, new orders and employment, all fell at accelerated rates in December. This pushed the overall [...]
UK companies cut jobs at fastest rate in nearly 4 years Economics The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in [...]
Budget tax hikes send business confidence to two year low, survey shows Economics S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.
Budget uncertainty sends economic activity down to lowest level in almost a year October 24, 2024 Uncertainty surrounding the Budget knocked economic activity in October, according to a closely watched business survey, as firms delayed decisions in the face of possible tax changes.
Construction sector surges thanks to interest rate cuts and planning reform October 4, 2024 "UK construction companies indicated a decisive improvement in output growth momentum during September," Tim Moore, economics director at S&P Global Market Intelligence said.
Services inflation falls to lowest level since February 2021, survey suggests October 3, 2024 The survey noted that "competitive pressures continued to limit pricing power," which helped to contain inflationary pressures.
Manufacturing remains in expansion but confidence plummets ahead of budget October 1, 2024 The fall in confidence was the largest since March 2020, just before the Covid lockdown.
UK economy: Growth continues but budget concerns ‘jangling nerves’ September 23, 2024 PMIs, which measure business activity in the private sector, are closely watched for clues about the economy’s performance.
Construction sector ‘turns a corner’ as housebuilding jumps September 5, 2024 Tim Moore, economics director at S&P Global Market Intelligence, said the recovery in housebuilding was the "most notable development" in August.