2 d. ago OECD downgrades forecasts for UK growth as Trump tariffs hit world economy

Global growth is expected to fall below 3% for the first time since the pandemic

Politics

3 d. ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

7 d. ago Trump fury over US court bid to block tariffs – as experts warn uncertainty could hit economy

A ruling by three US judges has been described as ‘good news’ for countries negotiating trade deals with Trump but brought warnings of uncertainty and confusion

Events

7 d. ago Trump officials to ask supreme court to halt bid by ‘activist judges’ to block tariffs

Administration intends to ask top court to immediately pause trade court’s ruling that tariffs regime was illegalQ&A: Why has a US court blocked Donald Trump’s tariffs – and can he get round it?US politics live – latest updatesThe Trump administration intends to ask the US supreme court to immediately pause what it characterised as a bid by “activist judges” to block Donald Trump’s sweeping tariffs.A US trade court ruled the US president’s tariffs regime was illegal on Wednesdaya dramatic twist that could block Trump’s controversial global trade policy. Continue reading...

Politics

2 w. ago China's economy slows in April as trade war blues hit retail sales, housing and investment

Key economic indicators show China's economy slowing somewhat in April, with retail sales, property and investment coming in weaker than economists had forecast

Economics

3 w. ago Cutting immigration will 'damage' Scottish economy and hit NHS recruitment, warns John Swinney

The SNP leader criticised the Prime Minister's choice of language as he announced a plan to restrict immigration - and claimed Starmer was "terrified" of Nigel Farage.

Events