The UK economy stagnated in July, posing challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampen growth prospects. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday. The dominant services sector expanded 0.1 percent and construction grew 0.2 percent. Meanwhile, ...
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.