In its first economic forecast since the EU referendum, the British Chambers of Commerce (BCC) has downgraded its UK GDP growth forecast from 2.2% to 1.8% in 2016; from 2.3% to 1.0% in 2017 and from 2.4% to 1.8% in 2018. Weaker consumer spending and a large fall in investment were the main reasons for…
London has retained the top slot as a centre for business, commerce and culture in PwC’s latest Cities of Opportunity Index of 30 major global cities. Economic clout, reputation as a city gateway, ease of doing business, universities, innovation, entertainment and attractions are all reasons why London has retained its title for the second year…
The UK service sector returned to growth in August, according the Markit/CIPS UK Services Business Activity Index. Following abrupt contractions in output and new business in July, linked to the EU referendum, the latest data signalled a return to growth as companies reported that uncertainty had abated somewhat. The business activity index rebounded to 52.9…
August saw solid rebounds in UK manufacturing output and incoming new orders, according to the Markit/ CIPS Purchasing Managers’ Index (PMI). Companies reported “solid inflows” of new work from both domestic and export customers, the latter aided by the sterling exchange rate. As a result, the PMI recovered sharply from the 41-month low of 48.3…