Spending fell 1.5% in December as consumers brought forward purchases to Black FridayBritish shoppers sharply reined in spending over the Christmas period, as Black Friday deals encouraged them to purchase presents earlier, rounding off the weakest year for retail sales growth since 2013.

Work has ruled our lives for centuries, and it does so today more than ever. But a new generation of thinkers insists there is an alternative. By Andy BeckettWork is the master of the modern world. For most people, it is impossible to imagine society without it. It dominates and pervades everyday life – especially in Britain and the US – more completely than at any time in recent history. An obsession with employability runs through education. Even severely disabled welfare claimants are required to be work-seekers. Corporate superstars show off their epic work schedules. “Hard-working families” are idealised by politicians. Friends pitch each other business ideas. Tech companies persuade their employees that round-the-clock work is play. Gig economy companies claim that round-the-clock work is freedom. Workers commute further, strike less, retire later. Digital technology lets work invade leisure.In all these mutually reinforcing ways, work increasingly forms our routines and psyches, and squeezes out other influences. As Joanna Biggs put it in her quietly disturbing 2015 book All Day Long: A Portrait of Britain at Work, “Work is … how we give our lives meaning when religion, party politics and community fall away.”Related: Do you work more than 39 hours a week? Your job could be killing youRelated: What happens when the jobs dry up in the new world? The left must have an answer | John Harris Continue reading...

Tom Kibasi on proposals for a ‘digital commons’ and increasing worker ownership, Andy Chapman on Common Good Balance Sheets, and Peter Taylor-Gooby on better education, more training and decent cheap childcareIn introducing his welcome new series on economic alternatives, Aditya Chakrabortty rightly castigates those who continue to promote the failed economic ideas of the past (It’s time to take on the zombies, 17 January). But he underestimates the extent to which a vibrant network of thinktanks, academics, campaigning and community organisations are now “rethinking capitalism” in pursuit of a society fit for the future.Here at IPPR we are working on everything from new approaches to macroeconomic policy to the proper taxation of wealth, from proposals for a “digital commons” to devolved economic governance, from increasing worker ownership to a new framework for environmental policy. Continue reading...

Shares down by almost a fifth as number of UK property sales fall and surveyors report fewer inquiresShares in the UK’s largest estate agent, Countrywide, have tumbled by nearly a fifth after the group issued its second profit warning in three months amid a stalled property market.Countrywide, whose high street brands include Hamptons, Bairstow Eves, Taylors and Gascoigne-Pees, said it had had a disappointing last three months, especially in London and the south-east, with full-year revenues down £65m on a year earlier. It warned that 2017 profits would fall short of forecasts and be 22% below those for 2016. Its shares closed on Thursday down 18.6% at 110p.Related: Countrywide profit warning; stamp duty cut fails to help first-time buyers - business live Continue reading...

Office for National Statistics’ family spending report shows household spending increase but much is fuelled by debtThere is little for the average household to cheer these days as inflation crushes paltry earnings increases. Inflation is running at 3% while wage rises can manage no more than 2.5%. Worse for the average household, the banks are beginning to turn off the lending taps that have allowed them to boost their incomes with cheap debt.Things were better in the year to April 2017, according to the number crunchers at the Office for National Statistics, who have lifted the lid on Britain’s spending habits in their annual family spending report.

Lloyds, HSBC and RBS all promise to help small businesses, as the government sets up a Carillion task force

Taskforce of high street banks, trade bodies and businesses draw up measures to limit job losses as unions press government to actHigh street banks have made more than £225m available to help businesses put at risk by the failure of Carillion, while companies have offered to take on staff who were working for the firm when it collapsed into receivership.A taskforce of banks, businesses and construction industry trade bodies met with the business secretary on Thursday to discuss ways to contain the impact of Carillion’s collapse on jobs and the wider economy. Continue reading...

Household expenditure on cars, holidays and pets drives recovery but signs emerge of a slowdownSpending by British households has returned to its pre-financial crisis levels in real terms, driven by purchases of cars and spending by older consumers on package holidays and pets.Figures from the Office for National Statistics showed average weekly spending in the UK rose to £554.20 in the financial year ending March 2017, an increase from £533 the previous year. Transport and recreation were the two categories where expenditure increased the most, rising by about £5 on average per week.Inflation is when prices rise. Deflation is the opposite – price decreases over time – but inflation is far more common.Related: UK’s richest 10% spend more on wine per week than the poorest on waterRelated: The economics of retirement: the power of pensioner spending Continue reading...

Chain warns of subdued demand as shoppers shun high street and artisan rivals perk upBritain’s biggest coffee shop chain, Costa Coffee, has suffered a fall in sales at its high street stores and warned consumer demand would remain “subdued”.

The claim that Stoke-on-Trent is better off under the Tories is rejected by Cllr Mohammed Pervez and the Labour peer Jeremy BeechamI think the Stoke-on-Trent South MP Jack Brereton was rather misleading in his dig at the Guardian (Letters, 15 January) for not mentioning that the recent so-called turnaround in the city was down to his Tory party locally and nationally. He neglected to mention that he was the cabinet member who oversaw deep cuts to Stoke-on-Trent’s local services, including our children’s centres, social care and homelessness support. It is the current Conservative administration that has wasted tens of millions of pounds of council reserves to the detriment of the city’s long-term financial security.Much of what Mr Brereton cited as improvements to the city are the legacy of Labour’s actions in power, including the creation of the central business district and cultural quarter, the district heating network, the relocation of Staffordshire University and the drive for better housing and jobs in the city. Continue reading...

Official Receiver says vast majority of companies who used Carillion’s services want to keep paying ‘in the interim’

Since the 2011 uprising, the IMF – backed by the G8 – has imposed economic reforms on Tunisia, at a cost to ordinary peopleTunisia has been facing protests across the country at price and tax rises since 3 January – the anniversary of the “bread riots” which occurred in 1984 under the Habib Bourguiba regime. As with the current unrest, that uprising was triggered by an intervention into the country’s affairs by international financial institutions, and the subsequent shock to the livelihoods of Tunisians – specifically, an increase in bread and grain prices following the adoption of an IMF plan.Related: The Guardian view on Tunisia unrest: riots redux? | Editorial Continue reading...

EU ruling follows claims G30 group has too much influence with ECB president as memberThe president of the European Central Bank has been told by the EU’s watchdog he should drop his membership of a secretive club of corporate bankers, after claims the group had been given an inside seat from which it could influence key policies.Following a year-long investigation, Mario Draghi was informed on Wednesday by the European ombudsman, Emily O’Reilly, that his close relationship with the Washington-based G30 group threatened the reputation of the bank, despite his assurances to the contrary. Continue reading...

Thousands of businesses across sectors need to find ways to cut costs to survive beyond 12 months, warns insolvency specialistAlmost half a million UK businesses have started 2018 in significant financial distress, according to insolvency specialists.In its latest “red flag alert”, Begbies Traynor said firms across all UK regions and sectors were feeling the repercussions of higher inflation, rising interest rates, growing business uncertainty, and weaker consumer spending. Continue reading...

What to do when our economy benefits only the few, but politicians seem powerless to change it? This new series, called the Alternatives, follows communities who are working out their own answersThis is the age of the zombie. The undead maraud around our popular culture. Stick on the telly, and they’re attacking Jon Snow in Game of Thrones. At the cinema, reanimated carcasses lurch through everything from Resident Evil to World War Z. The headlines might burst with blundering boastful strongmen, but our nightmares are full of blank-eyed walking corpses.Unthinking, unquestioning, neither alive nor dead, the zombie is horrific. It is also us.What is austerity?Related: A Labour council attacking its own people? This is regeneration gone bad | Aditya ChakraborttyThe nurse at the food bank, the council employee in a homeless shelter: these political actors are new Continue reading...

Government under pressure over handling of Carillion’s collapse, as suppliers cut jobs and creditors face huge losses

Department asks high court for ‘direct review’ of ruling that temporarily blocks Trump administration from phasing out DacaThe Department of Justice said on Tuesday it is appealing against a federal judge’s ruling that temporarily blocked the Trump administration from phasing out the Obama-era program granting protections to young, undocumented immigrants – and asking the supreme court to intervene.

US share index rises 1,000 points in 12 days – but sceptics warn rise could be last hurrah before a crashThe Dow Jones Industrial Average has topped the 26,000 mark for the first time, a new landmark in the Wall Street stock market boom that has gathered pace since the new year.The leading index of US shares has risen 1,000 points in just 12 days – and six stock market trading sessions, given that Wall Street was closed for Martin Luther King Jr Day on Monday – fuelled by an upswing in the global economy and the prospect of bumper company earnings thanks to Donald Trump’s corporate tax cuts.Related: 'Melt-up' coinage could signal last hurrah for US stock market Continue reading...

Squeeze on households eases slightly as effects of weak pound start to waneThe squeeze on British household budgets showed signs of easing in December as the rate of inflation fell for the first time in six months, helped by lower airfare costs and a fall in the price of games and toys.The consumer price index fell to 3% last month from a five-year high of 3.1% in November, raising the prospect that inflation may have peaked, easing some of the pressure on UK consumers. Economists had expected the rate to moderate as the effects from the fall in sterling since the Brexit vote – which pushed up the cost of importing food and fuel – begin to wash out of the system.Inflation is when prices rise. Deflation is the opposite – price decreases over time – but inflation is far more common. Continue reading...

Given the chance to think on each others’ views, we become more tolerant: a citizens’ assembly is how to fight illiberalismThere’s a chasm between the will of the British people as expressed in their 52% vote for Brexit and their considered will. It turns out that ordinary Britons deliberating with their peers think things through, “unspinning” much of the surrounding media hysteria.In late 2017, a group of universities selected 50 people by lot to be representative of ordinary Britons in a “citizens’ assembly”. Between the referendum and the end of two weekends spent deliberating on Brexit, a group exemplifying the referendum’s 52:48 Brexit vote had swung to 40:60 against.The tragedy of Brexit doesn’t concern Britain’s economy but rather its democracyA hard Brexit would take Britain out of the EU’s single market and customs union and ends its obligations to respect the four freedoms, make big EU budget payments and accept the jurisdiction of the ECJ: what Brexiters mean by “taking back control” of Britain’s borders, laws and money. It would mean a return of trade tariffs, depending on what (if any) FTA was agreed. See our full Brexit phrasebook.Related: Citizens UK makes Westminster’s politicians face power of the people Continue reading...

Poorest households are spending 25% of monthly income servicing debts as UK borrowing rocketsOne in four of Britain’s poorest households are falling behind with debt payments or spending more than a quarter of their monthly income on repayments, according to a study.The latest evidence of mounting debt problems for some of the most vulnerable in society is shown in a report by the Institute for Fiscal Studies, on behalf of the Joseph Rowntree Foundation, at a time when borrowing on credit cards, loans and car finance deals returns to levels unseen since before the 2008 financial crisis.Related: Personal debt: how you can shred your borrowing this year Continue reading...

Labour leader says Carillion crisis is a ‘watershed moment’ for UK public services, as government ministers discuss their next step

Silvana Tenreyro, a member of the bank’s monetary policy committee, said firms will delay investment due to uncertaintyThe uncertainty caused by Brexit is deterring companies from investing and hampering Britain’s ability to close its productivity gap with other leading developed countries, a Bank of England policymaker has warned.Silvana Tenreyro, one of the nine members of Threadneedle Street’s monetary policy committee (MPC), which sets UK interest rates, said 75% of the decrease in growth of output per worker since the financial crisis a decade ago was due to manufacturing and financial services, but that a period of catch-up was feasible.Productivity is an economic measure of the efficiency of a workforce. It typically measures the level of output per hour of work, or per worker. Continue reading...

Trading bloc would suffer more in lost output than thought, although lack of trade deal would cost UK around £125bnA no-deal Brexit would cost the remaining 27 EU nations €112bn (£99.5bn) in lost economic output, according to research by a UK-based thinktank.Although the UK would still be the biggest loser from crashing out of the EU single market and customs union without a new trade deal – with a cost to the economy of £125bn by 2020 – the EU would also suffer a bigger economic hit than previously thought by the end of the decade, according to the consultancy Oxford Economics.A hard Brexit would take Britain out of the EU’s single market and customs union and ends its obligations to respect the four freedoms, make big EU budget payments and accept the jurisdiction of the ECJ: what Brexiters mean by “taking back control” of Britain’s borders, laws and money. It would mean a return of trade tariffs, depending on what (if any) FTA was agreed. See our full Brexit phrasebook. Continue reading...

Republican tax cut will widen the trade and current-account deficits, the opposite of what was promisedUS President Donald Trump and congressional Republican allies have succeeded in passing their big tax legislation. While it lacks many of the desirable attributes of true tax reform, it amounts to a success for Trump, who failed to deliver any other major piece of legislation during the first year of his administration. But what will it mean for Trump’s other major promise, to cut the US trade deficit?

Nicola Sturgeon says updated analysis strengthens case for UK staying in EU single marketScotland’s economy faces losing up to £16bn a year as a result of leaving the EU, according to a Scottish government forecast.The updated analysis warns that a hard Brexit, in which the UK falls back on World Trade Organisation rules, would cost Scotland up to £12.7bn and cause real household incomes to fall by 9.6%, or £2,263 per head. Continue reading...

Bargains were snatched from the shoppers who needed them in order to make bigger profits from people with fatter wallets. It was the trickle-up effect at work – much like our system nowI once had a stall in the Portobello Road market, when it still had a cheap, rubbishy end where you could find thrilling bargains. My stall was at this fascinating, vibrant end, between a book stall and a bric-a-brac stall, on a pavement forecourt facing the public lavatories.Every Saturday, the bookseller, who also sold cinema ephemera, would leave me in charge and go down to the swanky part of the market, which was crammed with tourists. There he would find his own stock, which dealers had snapped up from his stall early in the morning, to sell at a staggering profit on their own stalls, 10 minutes’ walk away. Continue reading...

A collective insanity has sprouted around the new field of ‘cryptocurrencies’, causing an irrational gold rush. I know you’re tempted, but don’t be a foolI’ve been watching this bitcoin situation for a few years, assuming it would just blow over.

Scottish first minister also says Jeremy Corbyn appears ‘only slightly less in favour of a hard Brexit than the Tories’Nicola Sturgeon has described as “shameful” Westminster’s failure to consider the impact of Brexit on the economy, as her own government prepares to publish a “clear-eyed, hard-headed” analysis of potential outcomes of leaving the EU.Interviewed on the BBC’s Andrew Marr Show on Sunday morning, Scotland’s first minister said that, although she had seen “some redacted material” from the UK government’s Brexit impact assessments, “I think everyone has concluded that what we were told previously by David Davis were in-depth impact studies are no such thing”.Staying in the single market and customs union Continue reading...

Western bank loans for projects in Africa were to be paid off via rising commodity prices. At least that was the theory …

The young people of Britain are threatened not just by leaving the EU, but by the accumulation of problems created by neglect of public servicesOne of the many annoying aspects of the Brexit referendum fiasco is that it has diverted attention from so many pressing domestic economic and social problems.Yet those of us who are unrepentant Remainers still regard the struggle as worthwhile. Brexiters may argue that the prospect of short-term economic damage was exaggerated during the campaign, and, as I acknowledged in a recent column, it was. But that this is a case of “so far, not so bad” is beside the point. The damage will hit us if we go ahead with leaving our largest market and indulge the extreme Brexiters’ fantasy of contriving wonderful new markets in far less important countries from the trading point of view – markets, that, strangely enough, already exist. Continue reading...

Quick transatlantic trade deal should be put ‘out of our minds’ says former ambassador, as poll shows 72% of British public think president is a risk to international stabilityDonald Trump’s deteriorating relationship with Britain is likely to kill off any lingering cabinet hopes of a swift post-Brexit trade deal with the United States, a former British ambassador to Washington has warned.Sir Nigel Sheinwald said that a series of controversial interventions by the US president in British issues meant that the remote prospect of a quick transatlantic deal, heralded by pro-Brexit cabinet members, should now be “put out of our minds” for good. Continue reading...

After months of trying to get Trump on side, Canada ‘drops the gloves’ by filing trade complaint – but will the decision merely inflame economic tensions?The charm offensive was already under way before Donald Trump moved into the White House. By inauguration, Justin Trudeau’s top advisers had fostered close contacts with Trump’s inner circle, setting the stage for a Washington visit peppered with smiles, handshakes and photo ops.But this week relations between Canada and the US seemingly struck a different note, as news broke that Ottawa had launched an all-out trade war against Washington.Related: Canada v Mexico: Trump seeks to divide and conquer in Nafta negotiations Continue reading...

Rising inflation, falling living standards and static pay fuel anxiety across all income bands, thinktank findsAnxiety over future job and pay prospects has become entrenched among UK workers against a backdrop of falling living standards, Brexit uncertainty and the prospect of automation, a report has warned.Four out of five working people are concerned that inflation will outstrip their pay in future, despite high levels of employment, the Royal Society of Arts, Manufactures and Commerce said.Related: Real wages fall despite low levels of unemployment Continue reading...

Economists say city’s status as financial and cultural giant means move to sever ties with fossil fuel will catalyze others in US and around the world to follow

No-deal forecast of losses of 500,000 jobs and nearly £50bn in investment is circumspect, but still makes a lot of assumptionsRelated: Brexit: UK could lose half a million jobs with no deal, says Sadiq Khan Continue reading...

Heather Stewart and Anushka Asthana discuss the cabinet shake-up, plus Sonia Sodha, Torsten Bell and Neal Lawson on the concept of a universal basic incomeIt was supposed to be a reshuffle to freshen up the cabinet. Instead Theresa May had an education secretary storming off to the backbenches, the wrong chairman accidentally announced on Twitter and others refusing to budge.Heather Stewart and Anushka Asthana discuss the strategy behind the prime minister’s shake-up – and why it went so badly. Continue reading...

Labour appears to be coming round to the idea of trying to maintain the status quo in our trading relationship with Europe. That would be a mistakeIn less than 15 months the UK will be a third country, a non-EU member. A debate is currently raging about what customs relationship the UK should have with the EU after Brexit. The government’s view is we should leave the EU’s customs union, allowing the UK to sign new trade deals. Blairite figures and Corbyn critics, including Chuka Umunna, are keen to keep things after Brexit as similar as possible to before. They have already called for the UK to stay in the customs union (and the single market). A story in yesterday’s Times suggested that Labour was likely to switch its position “by spring” to back staying in a modified version of the European customs union.Related: Labour must say it: Britain should stay in the single market after Brexit | Chuka UmunnaRelated: David Davis’s petulant leaked letter is the latest slice of Brexit cakeism | Jonathan Lis Continue reading...

Analysis commissioned by London mayor predicts ‘lost decade’ of slump and lower employment with hard BrexitA no-deal Brexit could cause the UK to lose half a million jobs and nearly £50bn in investment by 2030, according to an economic forecast commissioned by the mayor of London, Sadiq Khan.The report, which models five possible scenarios for leaving the EU ranging from a near-status-quo situation to leaving on World Trade Organisation terms without any transition agreement, warns that the worst option could be a “lost decade” of economic slump.Staying in the single market and customs union Continue reading...

Readers respond to a piece by the Guardian’s economics editor Larry Elliott and a letter from Oxford University professor Robert GildeaOnce again Larry Elliott hits the nail on the head with his plea for remainers to move on (Remainers got it wrong: there is no buyer’s remorse, 8 January).Even now there is a complete reluctance to understand the true nature of the EU. Do remainers really believe that the four freedoms to move goods, capital, services and labour were ever introduced in the interests of workers? The continual harping on about the lies of Brexiteers ignores the bigger truth that the EU is, and always will be, unreformable, neoliberal and hugely damaging to our economy. The EU treaties have allowed the capitalist class to cut public spending, privatise, and sell our assets abroad. They threw in a few sops in terms of workers’ rights that we could have won ourselves through union action, to persuade us of some nonexistent liberal aspect to the EU.Denying that immigration was responsible for low wages and job losses, and describing claims to the contrary as a fraud, is simply delusionalThe hallowed 'freedom of movement' has allowed large-scale farms to employ agricultural workers from the poorest regions of Europe at the lowest possible rate Continue reading...

Costing double the price of a whole vegetable and shrouded in layers of plastic, ‘clean eating’ product fails to make the cutMarks & Spencer has withdrawn its “cauliflower steak” product from sale after it was ridiculed by consumers for its “excessive” plastic packaging and inflated price.The sliced cauliflower, which comes in plastic packaging with a separate sachet of lemon and herb drizzle, was being sold for twice the price of a whole, single cauliflower at the supermarket chain.

Longest period of rising manufacturing output in 23 years contributed to fastest growth rate since late 2016, Niesr estimatesThe longest spell of rising output from Britain’s factories in 23 years has left the economy on course to record its fastest rate of growth since late 2016, one of the country’s leading thinktanks has forecast.The National Institute of Economic and Social Research said it was pencilling in expansion in gross domestic product of 0.6% in the final quarter of 2017, up from 0.4% in the previous three months and above the latest City estimates. Continue reading...

Photographer Andy Hall braved the cold and the crowds in the West End to snap bargain hunters over the festive season Continue reading...

After better than expected growth in the global economy, Bank says financial markets are vulnerable to unforeseen negative newsFinancial markets are complacent about the risks of sharply higher interest rates that could be triggered by better than expected growth in the global economy this year, the World Bank has warned.The Washington-based organisation said that much of the rich west was running at full capacity as a result of a broad-based upswing in activity, but were now vulnerable to a period of rising inflation that would prompt action from central banks.Inflation is when prices rise. Deflation is the opposite – price decreases over time – but inflation is far more common.Lenders have already bumped up the cost of fixed rate mortgages ahead of the Bank of England’s decision to raise base rate from 0.25% to 0.5%, and mortgage borrowers on tracker and variable rates will see their monthly payments become more expensive in the coming days. ​Related: A record-breaking year - the global economy in 10 charts Continue reading...

Professor Steve Schifferes says a citizens’ wealth fund in the UK could be the key to boosting productivity, tackling inequality, and giving citizens a new sense of control over their lives. Plus Michael Gold says that if the tech giants paid tax properly there would be no $1tn company on the horizonI strongly endorse your editorial (30 December) suggesting that a UK citizens’ wealth fund could make a major contribution to reversing the worrying growth in inequality, particularly wealth inequality, in the last few decades. The estimates by my project team suggest that it would be feasible to create a £1tn citizens’ wealth fund within a generation, partly based on making better use of our estimate of £3tn in publicly owned assets. In our view, such a “Next Generation Fund” could make an important contribution to reducing intergenerational inequality as well, and ensure that an increased level of public spending and public investment can be afforded in the future when the revenue that can be raised from taxation will be constrained by the increase in the number of older people relative to those in work.As well as the successful implementation of such schemes in countries as diverse as Norway, Singapore and Australia, they also exist on a smaller scale in the UK, including the Shetland and Orkney trusts and the crown estate. I believe that introducing a citizens’ wealth fund in the UK – not run by the government but by the people – could be the key to boosting productivity, tackling inequality, and giving citizens a new sense of control over their lives. The idea deserves cross-party support.

All the day’s economic and financial news.

Treasury committee chair Nicky Morgan demands clarification on how British businesses can avoid paying VAT upfront when they import goods post-BrexitThe government has come under pressure to reveal the impact on more than 130,000 UK firms of rules due to take effect after Brexit that will force them to pay VAT upfront for the first time on all goods imported from the European Union.Nicky Morgan, the Tory chair of the influential Treasury select committee, has demanded to know what contingency plans were being made to avoid the extra cost of the rule change hitting UK firms.Staying in the single market and customs union Continue reading...

British Retail Consortium blames inflation for meagre rise in spending on gifts with shoppers spending more on essentialsHigh street spending in the run-up to Christmas increased at the slowest rate since 2012 after spiralling prices forced shoppers to spend more of their earnings on food and essential items.Figures from the British Retail Consortium (BRC) sent a worrying signal to non-food retailers, in a week of crucial trading updates for the sector, as they showed that consumers reined in their spending on furniture, clothes and footwear in December.Inflation is when prices rise. Deflation is the opposite – price decreases over time – but inflation is far more common.Like-for-like sales have become the benchmark in the City for judging the current performance of retailers. Typically represented as percentage growth rates, like-for-like sales measure sales at stores that have been open for at least a year, stripping out the impact of sales at newer stores. The idea is that they allow a more transparent comparison of a retailer’s sales performance over a certain period of time, when compared with the same period of time a year earlier. Continue reading...

Bank of England and financial watchdog found 89% of card debt was held by consumers also in debt two years agoBritish consumers are trapped by credit card debt for longer than previously thought, according to a study by officials at the Bank of England and the City regulator, as unsecured borrowing reaches levels unseen since the financial crisis.Analysis by the Bank and the Financial Conduct Authority showed it was common for people to remain in debt even after paying off one of their credit cards, as they shift debts from one lender to another. Previously, Threadneedle Street had believed that credit cards were paid off more quickly, particularly in relation to mortgages. Continue reading...

A majority of companies polled expect global demand and growth in export markets to sustain order booksBritain’s manufacturers are more upbeat about the state of the global economy than at any time since 2014 and believe demand from overseas will sustain their businesses through another year of Brexit uncertainty, a survey has shown.The poll by the manufacturers’ organisation EEF and the insurance firm AIG found 40% of the companies questioned were planning for growth in 2018 while 19% were expecting a downturn in their business.Related: Brexit: why the UK economy hasn't led to buyer's remorse Continue reading...