Irina Anghel

UK consumer confidence remained subdued in December with households reluctant to splash out on big-ticket items ahead of Christmas amid ongoing economic uncertainty, a survey found.

(Bloomberg) -- Britain’s economy contracted for a second straight month in October as consumers braced for a painful budget, leaving the Labour government’s pledge to boost growth in trouble only months after taking power.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamGross domestic produc

British households expect the pace of price rises to tick upwards in the next 12 months according to a Bank of England survey that underscores concerns Chancellor of the Exchequer Rachel Reeves’ big-spending budget in October may stoke inflation.

Small homes in London are pouring onto the market as sellers try to get ahead of an upcoming tax increase, threatening to dampen demand for property for much of next year, according to Rightmove.

UK businesses have shed almost 200,000 jobs this year, tax data show, suggesting the labor market is already unraveling in a warning sign for both Prime Minister Keir Starmer and the Bank of England.

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UK inflation rose to an eight-month high in November, drifting further above the Bank of England’s 2% target and supporting expectations that it will hold interest rates at its final meeting of the year.

The UK’s minimum wage has been pushed up by 14 pence (18 cents) an hour as a result of changes to a faulty methodology in statistics that underpin the rate.

UK retail sales grew more slowly than expected in November as cost-of-living pressures weighed on consumer sentiment in the wake of the Labour government’s first budget.

(Bloomberg) -- UK retail sales grew more slowly than expected in November suggesting Christmas shoppers might not boost the economy in the crucial final months of the year.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe volume of goods sold in stores and online rose 0.2% last month, with supermarket sales partly offset