UK ‘turning a corner’ as manufacturing decline slows December 1, 2023 The UK's manufacturing sector appears to have taken a potential turn as November witnessed a slight improvement, beating forecasts.
UK ‘found its feet’ in November as economy returned to expansion but recession fears remain November 23, 2023 “The UK economy found its feet again in November as the service sector arrested a three-month sequence of decline," Tim Moore, Economics Director at S&P Global Market Intelligence said.
Activity contracts across three-quarters of UK regions — but London remains ‘bright spot’ November 13, 2023 London remained the UK's top-performing region, with the business activity index coming in at 53.8. The 50-mark separates growth from contraction.
UK manufacturing mired in deepest downturn since 2008 financial crisis November 1, 2023 The UK's manufacturing sector is engulfed in the deepest downturn since the 2008 financial crisis as market uncertainty depresses activity, a closely watched survey suggests.
UK economy continues to ‘skirt with recession’ due to Bank of England’s interest rate hikes October 24, 2023 The UK economy is teetering on the edge of a recession under the weight of higher borrowing costs, a closely watched survey suggests.
Housebuilding slide leads to steepest fall in construction for three years October 5, 2023 Activity in the UK's construction sector decreased at the fastest rate since May 2020 as housebuilding slumped.
Services sector dips under weight of high interest rates as staff layoffs hit fastest pace since early 2021 October 4, 2023 The UK's service sector remained stuck in contraction in September for the second consecutive month, according to a closely watched survey, with firms laying off staff at the fastest rate since early 2021.
‘Recession increasingly likely’ as business output drops sharply under weight of higher interest rates September 22, 2023 A steep downturn in services saw economic activity contract at its fastest pace since the financial crisis – outside of the pandemic – raising the chances of a recession, a closely watched survey suggested. S&P Global’s Purchasing Managers’ Index (PMI) for the UK economy came in at 46.8 – far below the 50 reading which [...]
Recession risks loom as UK’s service sector falls into negative territory September 5, 2023 The impact of higher interest rates saw the UK's all important service sector fall into contraction for the first time since January as the risks of a recession grew ever larger.
Manufacturing downturn ‘deepens’ as production drop among fastest on record September 1, 2023 UK manufacturing hit a steep slump this month, figures revealed, as production dropped by a rate “one of the fastest in survey history”. According to the Chartered Institute of Procurement & Supply (CIPS) the UK manufacturing purchasing managers index (PMI) recorded 43.0 in August, down from 45.3 in July. This marked its lowest level since [...]