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US tariff war hurting trade with China; Beijing ‘confident’ of hitting growth targets – business live
Rolling coverage of the latest economic and financial newsThe UK economy is set to slow sharply for the next two years as Donald Trump’s global tariff war weighs on consumer spending and business investment, a study by a leading forecaster has predicted.The EY Item Club is now forecasting that UK gross domestic product (GDP) will grow by 0.8% this year, down from a projection of 1% in February, and has cut its 2026 forecast from 1.6% to 0.9% as longer-term effects hit the UK.The average price for the top 100 products in the beauty and health category increased by 51% from Thursday, with several of the items more than doubling in price.For home and kitchen products and toys, the average jump was more than 30%, led by a massive 377% increase in the price of a 10-piece set of kitchen towels. For women’s clothing the rise was 8%. Continue reading...
Rolling coverage of the latest economic and financial news
The UK economy is set to slow sharply for the next two years as Donald Trump’s global tariff war weighs on consumer spending and business investment, a study by a leading forecaster has predicted.
The EY Item Club is now forecasting that UK gross domestic product (GDP) will grow by 0.8% this year, down from a projection of 1% in February, and has cut its 2026 forecast from 1.6% to 0.9% as longer-term effects hit the UK.
The average price for the top 100 products in the beauty and health category increased by 51% from Thursday, with several of the items more than doubling in price.
For home and kitchen products and toys, the average jump was more than 30%, led by a massive 377% increase in the price of a 10-piece set of kitchen towels. For women’s clothing the rise was 8%. Continue reading...
