Economy grows by 0.2% in second quarter

The UK economy expanded by 0.2% in the second quarter in 2023 following growth of 0.1% in the first quarter, according to data from the Office for National Statistics (ONS). Monthly estimates show that GDP grew by 0.5% in June 2023 after falling by 0.1% in May and...

UK rental market shrinks by 400,000 homes

The UK's private rented residential sector has lost approximately 400,000 rental homes since 2016, with many landlords leaving the market due to growing cost pressures and high mortgage rates. Research conducted by Global Commercial Real Estate Services (CBRE) found...

Importers alter supply chains due to geopolitics

One in five importers have made alterations to their supply chains because of geopolitical tensions, particularly with China, new research suggests. The survey, run by the Institute of Directors (IoD), found that 20.5% of importers had altered their supply chains as a...

Retail trading conditions remain weak

Retail sales volumes fell significantly in the year to July, showing that trading conditions in the sector remain weak, according to the Confederation of British Industry (CBI). The CBI's latest distributive trades survey found that sales volumes fell by a weighted...