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It’s a sign of resilience in the UK economyAccording to the Office for National Statistics (ONS), monthly gross domestic product (GDP) grew by 0.1% in August, following growth of 0.4% in July and June. The marginal expansion exceeded expectations as economists had predicted a 0.1% contraction in a poll by Bloomberg. Performance was mixed across the sectors; August’s growth was driven by a […]
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Market Commentary
AI is here, rapidly becoming a key driver of countries’ relative fortunes in the world economySpeaking last week, ahead of the IMF-World Bank Annual Meetings in Thailand, Kristalina Georgieva, IMF Managing Director, said, “The global economy is being pulled in two opposite directions: a negative energy supply shock and a positive demand shock from AI. The combined impact of these two forces is highly uneven across the world.” Finance ministers […]
Market Commentary
Market activity and house prices have remained subdued in recent monthsLast month, UK annual house price growth halved to 0.8%, down from 1.6% in August, according to Nationwide. This is an unexpected slowdown as a Reuters poll of economists had expected to see an increase of 1.3%. September’s growth rate marks the weakest annual pace since December 2025 and is attributed to the ongoing economic […]
Market Commentary
Someone has to go through the pain barrier and rip the plaster offThe Prime Minster’s keynote speech at the Labour Party conference in Liverpool on Tuesday was highly anticipated. Andy Burnham pledged to tackle the issues politicians “usually avoid,” before setting out plans to transform Britain. His proposals included reforming the State Pension triple lock to help fund social care, overhauling the electoral system and strengthening public […]
Market Commentary
Economic momentum has proven more resilient than expectedLast week, the Monetary Policy Committee (MPC) voted to hold Bank Rate at 3.75% for the sixth time in a row. Members of the Committee voted by a majority of 6-3 to maintain the rate, with three dissenting members voting for a 0.25 percentage point increase to 4%. The Bank of England (BoE) warned there […]
Market Commentary
Britain’s economy is demonstrating resilienceThe UK economy unexpectedly grew by 0.4% in the three months to July, according to the latest data from the Office for National Statistics (ONS). The service sector made the largest contribution to growth in July, with output increasing by 0.6%. Growth was recorded in 11 out of the 14 subsectors, with the strongest contribution […]
Market Commentary
Across all the nations in the UK, we will support local leaders to deliver local growthOn Monday, John Healey delivered his first major speech as Chancellor. Speaking at the Manufacturing Technology Centre in Coventry, Healey said his central purpose is to boost growth across Britain. The Chancellor’s speech comes days after Bank of England Governor, Andrew Bailey, warned that the UK is currently facing “very, very substantial challenges.” In his […]
Market Commentary
Buyers have plenty of choice this autumn and will be able to make competitive bids for homesThe latest House Price Index from Zoopla indicates that buyers are regaining confidence and returning to the housing market. In August, home searches were up 7%, marking the strongest annual increase in 12 months. Sales agreed were still down 6% annually last month, but the rise in searches suggests more transactions could come in the […]
Market Commentary
Britain’s economy is resilientThe annual UK inflation rate reached 2.9% in July, up from a 15-month low of 2.6% in June. According to the Office for National Statistics (ONS), the increase can be largely attributed to Ofgem’s raised price cap, which has driven up the average annual gas and electricity bill by £221. This marks the largest increase […]
Market Commentary
The fastest growth in the G7 this yearThe UK economy grew by 0.4% between April and June, according to the latest figures from the Office for National Statistics (ONS). This followed growth of 0.6% in the first three months of the year, providing some welcome signs of resilience in the economy. Responding to the figures, Chancellor John Healey said the UK had […]
Market Commentary
I want every government department to be a growth departmentBusinesses bidding for government contracts will face new requirements designed to ensure public spending supports British jobs, skills and local communities. The market is worth around £90bn a year and organisations will be assessed on their commitment to create high-quality jobs, tackle local skills shortages and support young people into apprenticeships and work placements. Under […]
Market Commentary
The impact of the energy shock on the UK economy remains uncertainLast week, the Monetary Policy Committee voted to maintain Bank Rate at 3.75% for the fifth consecutive meeting. Six members voted to hold rates, while three opted for an increase to 4% – a slight shift from the previous meeting, which saw a majority of 7-2. The decision comes after the latest inflation statistics were […]
Market Commentary
I’m just as concerned about the cost of business as I am about the cost of livingIn his first week as Prime Minister, Andy Burnham got straight to work by making policy announcements aimed at offering financial support to individuals and businesses. This included a 20% cut in business rates for pubs, clubs and live music venues. The government expects that the cut, which comes into effect in April 2027, will […]