Monthly real gross domestic product (GDP) is estimated to have fallen by 0.1% in May 2025, following an unrevised fall of 0.3% in April 2025 and growth of 0.4% in March 2025 (revised up from 0.2% in our previous publication). Real GDP is estimated to have grown by 0.5% in the three months to May 2025, compared with the three months to February 2025, largely driven by growth in the services sector in this period.
Will you still get a UK state pension when you retire? With means testing, cuts and even abolition on the table, many are worried — and rightly so. In this video, I break down the risks, what recent surveys show, and how it could damage the whole economy if the pension system collapses..
The value of goods imports increased by £0.6 billion (1.2%) in May 2025, with a rise in imports from both EU and non-EU countries. The value of goods exports increased by £0.6 billion (2.2%) in May 2025, with an increase in exports to both EU and non-EU countries.
Monthly production output was estimated to have decreased 0.9% in May 2025; this follows falls in April 2025 (down 0.6%) and March 2025 (down 0.2%). The fall in monthly output in May 2025 resulted from decreases in "manufacturing" (down 1.0%) and "mining and quarrying" (down 3.2%); these were partially offset by an increase in "water supply and sewerage" (up 0.8%) and "electricity and gas" (up 0.3%).
Monthly construction output is estimated to have fallen by 0.6% in May 2025; this follows three consecutive periods of growth, including an increase of 0.8% in April 2025. The decrease in monthly output in May 2025 came solely from a decrease in repair and maintenance (2.1% fall), as new work increased by 0.6%.
Retail sales volumes (quantity bought) are estimated to have fallen by 2.7% in May 2025, following a rise of 1.3% in April 2025 (revised up from a rise of 1.2% in our last bulletin). Food store sales volumes fell back in May.
New insights from sector data suggest that charities have been able to direct additional resources to delivering their aims, amidst a tightening financial squeeze. The Charity Commission, the regulator of charities in England and Wales, has analysed data drawn from annual returns for the financial year ending 2023 - the most comprehensive dataset available to the charity sector.
New analysis of over 8,000 European package holidays shows prices for summer 2025 bookings are on average 4.2% higher than a year ago, with some destinations seeing rises up to 11.5%. Eurostat data also indicates the cost of a typical European package break climbed 6.6% between July 2023 and July 2024.
Government confirms reforms to the national pricing electricity market that will create a fairer, cheaper, more secure, and more efficient energy system. Government puts fairness and affordability at the centre of electricity market reform to deliver system that puts working people first.
Regions with abundant renewables, like Scotland, would have received some of the lowest electricity prices in Europe under zonal pricing. Independent analyses estimate savings of at least £3.7 billion per year and total bill reductions of £55 billion by 2050 for consumers nationwide, with Scotland among the biggest winners.
The UK stock market isn't on the brink of abolition — but it's definitely under pressure and in need of reform. The London Stock Exchange is still one of the largest and most liquid markets globally.
Construction has begun on a new cutting-edge facility for meteorological research and forecasting, marked by a breaking ground ceremony. The event took place (July 9 2025) at the site of the new headquarters for the European Centre for Medium-Range Weather Forecasts (ECMWF) at the University of Reading's Whiteknights Campus, led by Lord Vallance, Minister of State for Science, Innovation and Technology.
The UK and Japan yesterday signed a Memorandum of Cooperation (MoC) aimed at enabling increased UK investment into Japan, further strengthening the economic ties between the two nations. The agreement was signed at the British Embassy in Tokyo by Baroness Poppy Gustafsson of Chesterton CBE, UK Minister for Investment, and Mr.
irst Lady of Ukraine Olena Zelenska delivers one of the most powerful, emotional speeches ever heard on an international stage at the Ukraine Recovery Conference in Italy, hosted by Prime Minister Giorgia Meloni. From war trauma to school lunches, she reminds the world: rebuilding Ukraine starts with rebuilding lives.
A new ‘Entente Industrielle' will support thousands of UK jobs across projects including air-to air missiles. Britain and France are to order more highly lethal Storm Shadow cruise missiles, while stepping up work on its replacement as part of a new refreshed agreement signed today (Thursday 10 July 2025).
Nearly 4 million households will see an annual income boost estimated to be worth £725 cash as a Bill to overhaul the welfare system completes the next stage of its passage through Parliament. Bill to introduce biggest permanent boost to out-of-work support since 1980 progresses through Parliament.
Ambassador Holland condemns Russia's latest aerial bombardment of Ukrainian cities, which have killed civilians and damaged civilian infrastructure, and highlights the UK's recent sanctions package in response to Russia's use of chemical weapons in Ukraine. Thank you, Mr Chair.
Ukraine's President Volodymyr Zelenskyy said on Thursday Russia has been upgrading drones to cause more destruction.Zelenskyy said Russia is using hundreds of drones to attack Ukraine cities daily, calling it "pure terrorism". He also urged partners to provide more air defense supplies and more investment in drone production."When Russia increases its attacks, we cannot have a shortage of funding for drone production," Zelenskyy said.
This is the start of my new wealth series. We're going back to basics — and that means asking what wealth even is.
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