economy growth

Economy predicted to grow by 1.2%

23rd September 2025 Commercial Credit Management | #economy growth

The UK economy is projected to experience only modest growth over the next two years, according to a report by KPMG. The firm forecasts a rise of only 1.2% this year and 1.1% in 2026, significantly lower than the Office for Budget Responsibility’s earlier estimate of 1.9% driven by lower interest rates and infrastructure investment,…

Economy prediction upgraded to exceed growth forecasts

29th July 2025 Commercial Credit Management | #economy growth

The UK economy is projected to grow by 1% in 2025, surpassing earlier forecasts, which suggests that the economy would expand by just 0.8% according to an EY Item Club forecast. However, the EY ITEM Club Summer Forecast predicts that persistent uncertainty in the global economy and international trade policy, alongside tightening fiscal policy, a…

Growth could hit 1.2% in 2025 as trade agreements lower uncertainty

6th June 2025 Commercial Credit Management | #economy growth

The UK could see higher than expected growth due to trade deals agreed with the US and the European Union, with KPMG predicting that growth could hit 1.2% in 2025 as trade agreements lower uncertainty. The UK economic outlook could brighten over the next two years as the economy stands to benefit from easing trade…

Growth expectations downgraded

29th April 2025 Commercial Credit Management | #economy growth

The EY ITEM Club has downgraded its GDP growth expectations for 2025 to 0.8%, down from the 1% predicted in February’s Winter Forecast, and has revised its 2026 forecast down from 1.6% to 0.9%. While the start of 2025 appeared to show economic momentum building, the weaker global economy and market uncertainty created by trade disruption are expected…

Economy grew more than expected in February – industry reaction

11th April 2025 Commercial Credit Management | #economy growth

The UK economy grew by 0.5% in February, according to the Office for National Statistics (ONS). The data showed growth following a 0.1% fall in January. The services sector expanded by 0.3 per cent, the production sector grew by 1.5 per cent and construction activity increased by 0.4 per cent. Commenting on the GDP figures,…

UK economy grows by 0.3% – industry reaction

12th January 2024 Commercial Credit Management | #economy growth

Latest figures released by the Office for National Statistics (ONS) have shown that GDP rose by 0.3% in November after falling by 0.3% in October as the UK returned to growth. ONS Chief Economist Grant Fitzner said “The economy contracted a little over the three months to November, with widespread falls across manufacturing industries, which…

UK economy grew by 0.2% in July

12th September 2022 Commercial Credit Management | #economy growth

New figures from the Office of National Statistics (ONS) have indicated that monthly real gross domestic product (GDP) is estimated to have grown by 0.2% in July 2022 following a fall of 0.6% in June 2022. Monthly GDP is now estimated to be 1.1% above its pre-coronavirus levels (February 2020). The services sector grew by…

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