Weekly Digest – 22 May 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

UK economy exits recession, interest rates question

The UK exited recession with 0.6% growth in the first quarter, official figures revealed, but one senior economist called it a “hollow victory” and observed “the big picture remains one of an economy struggling with stagnation”.

Is the UK’s immigration system no longer fit for business?

If the immigration system remains as it is, the UK will be closed for business, writes London Chamber of Commerce & Industry chair Julia Onslow Cole.

Why it is so essential to reindustrialise the British economy

Productivity is key to driving economic growth, but despite a decade of efforts from policymakers, official figures show that productivity per hour remained flat in the UK at the end of last year, while output per worker declined by 0.6%.

Asking prices for UK homes hit record high

Prices of homes being put up for sale in Britain have hit record highs despite still expensive mortgage costs, but the pace of gains has slowed, according to data from property website Rightmove.

Where is agriculture heading in 2024 and what innovations are revolutionizing the field?

As we peer into the future of agriculture in 2024, it’s clear that the sector stands at a crucial juncture.

Action needed to tackle further increases in economic inactivity

The Institute of Directors (IoD) urges action to address rising economic inactivity in the UK.

Commercial property values poised for growth as office return accelerates

The commercial property market may be approaching its nadir as more workers return to the office, according to Land Securities, one of the UK’s largest landlords.

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