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Growth picked up in the first quarter of the year, led by broad-based increases across the services sectorThe latest figures from the Office for National Statistics (ONS) show that the UK economy grew by 0.3% in March, following growth of 0.4% in February and no growth in January. This came as a surprise to many analysts, who had expected a small contraction as it was the first full month following the Middle […]
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Market Commentary
Weekly Market CommentaryA trade deal between the UK and US could be agreed “very quickly,” President Donald Trump said at a White House press conference with Prime Minister Keir Starmer. The President suggested the UK may avoid the tariffs imposed on other trading partners, raising hopes of a favourable agreement. The Prime Minister presented President Trump with […]
Market Commentary
Weekly Market CommentaryThe latest inflation figures released last Wednesday by the Office for National Statistics showed an unexpected surge, with the headline rate climbing to 3% in January from December’s 2.5%, marking the highest level in nearly a year. This increase surpassed the Bank of England’s (BoE) 2% target and exceeded economists’ forecasts of a rise to […]
Market Commentary
Weekly Market CommentaryThe latest UK growth data from the Office for National Statistics (ONS) shows the economy grew by 0.1% in the fourth quarter of last year, exceeding expectations. A Reuters poll of economists had forecast that gross domestic product (GDP) would shrink by 0.1% in the period. The main contributor to GDP growth was the service sector, […]
Market Commentary
Weekly Market CommentaryIn their latest meeting on 6 February, the Monetary Policy Committee (MPC) voted by a 7 to 2 majority to cut Bank Rate by 0.25 percentage points to 4.5%, in a widely expected move. The two dissenting voices wished to reduce Bank Rate by 0.5 percentage points to 4.25%. For the seven members favouring the […]
Market Commentary
Weekly Market CommentaryChancellor Rachel Reeves made a series of major announcements in a highly anticipated speech last Wednesday at Siemens Healthineers in Oxfordshire. Setting out more plans to boost growth, Ms Reeves unveiled fresh promises for infrastructure and redevelopment projects. “We can do so much better,” Ms Reeves remarked. “Low growth is not our destiny… but growth […]
Market Commentary
Weekly Market CommentaryThe World Economic Forum’s (WEF) Annual Meeting in Davos wrapped up on Friday after an eventful week. Coinciding with the inauguration of Donald Trump, the talking shop for world leaders and business bosses featured prominent discussion around trade, Artificial Intelligence (AI) and climate action. Trade was, unsurprisingly, a hot topic, against the backdrop of new […]
Market Commentary
Weekly Market CommentaryThe global economy is projected to expand by just 2.7% in 2025 and 2026, according to a report released last week by the World Bank, with developing countries set to bear the brunt of geopolitical and economic headwinds. By growing at the same pace as in 2024, the world economy would flatline at its joint […]
Market Commentary
Weekly Market CommentaryUK consumer card spending was flat in December 2024, according to a report released last week by Barclays Bank. With year-on-year growth at 0.0%, consumer card spending lags significantly behind the latest inflation figure of 2.6%. The report, which combines millions of customer transactions with consumer research, found that essential spending was the main category […]
Market Commentary
Weekly Market CommentaryHouse prices increased by 4.7% over the year to December 2024, to finish only slightly below an all-time high, according to new data released last week by Nationwide Building Society. Having accelerated by 0.7% month-on-month, the average house price finished the year at £269,426. Commenting on the release, Robert Gardner, Nationwide’s Chief Economist, said, “UK […]
Market Commentary
Weekly Market CommentaryThe UK economy contracted again in October, according to official figures released on Friday by the Office for National Statistics (ONS). The unexpected fall of 0.1% marked two consecutive months of negative growth for the first time since the onset of the pandemic in March and April 2020. Analysts pointed to the effects of the […]
Market Commentary
Weekly Market CommentaryPrime Minister Sir Keir Starmer delivered a speech last Thursday at Pinewood Studios on the government’s ‘Plan for Change.’ In it, he set out “six milestones” to be completed before the next general election, with new targets on housebuilding, NHS waiting lists, policing and clean power. “Today, we publish new milestones, measurable milestones that will […]
Market Commentary
Weekly Market CommentaryBuying a home is becoming more affordable relative to income, according to the latest Halifax Affordability Review released last Thursday, as the house price to income ratio continues to fall. Strong wage growth combined with lower house price inflation has made housing more affordable than a year ago, the research revealed. Since 2023, house prices […]