ICAEW.com works better with JavaScript enabled.

Economy and business environment

Make sense of the ever-changing world with upheaval and disruption all around us. The world in which we operate never stays the same, our content helps you stay on top of it.
Contents
Back to top

Latest on economy and business environment

Read our latest features and articles on the economy.
Chart of the week: international trade
  • Article
  • 10 Apr 2026
  • ICAEW
This week’s chart illustrates how a £205bn surplus on trade in services was offset by a £243bn deficit on trade in goods to result in a net trade deficit of £38bn in 2025 – or £16bn if trade in precious metals is excluded.
Group of people around a table having a meeting
Iran war knocks confidence back into negative territory
  • Article
  • 02 Apr 2026
  • ICAEW
Business confidence was recovering until the outbreak of the war in Iran; concerns about its wider economic impacts are keeping sentiment negative, according to the latest ICAEW Business Confidence Monitor.
Bute park Cardiff
Welsh Manifesto: three measures to unlock growth
  • Article
  • 02 Apr 2026
  • ICAEW
ICAEW has published a manifesto for the Welsh Senedd elections, highlighting the biggest issues facing Welsh businesses, and the solutions that the Welsh government should focus on.
Philippa Lamb and Tess Buckley
What does the Iran conflict really mean for British business?
  • Podcast
  • 31 Mar 2026
  • ICAEW
We’ve already seen immediate spikes and fluctuations in the oil price and the wider financial and commodity markets. But how will the UK economy be affected in the months to come and how heavy a price will British business pay? RSM Chief Economist Tom Pugh shares his thoughts.
Group of people around a table having a meeting
Iran conflict sends economic shockwave through the Gulf
  • Article
  • 31 Mar 2026
  • ICAEW
Energy markets are set to suffer the biggest immediate impact from the Iran conflict, but effects on travel and tourism sectors will be longer lasting, according to an ICAEW economic update.
Ben Nevis
Scottish Manifesto: key actions for growth
  • Article
  • 30 Mar 2026
  • ICAEW
ICAEW Scotland has sent a list of recommendations to Scotland’s parliament in its Scottish Manifesto, outlining the major steps needed to improve conditions for businesses. Its suggestions have relevancy beyond the region.
A group of people sat down round a table having a meeting
ICAEW member insights: cash preservation is king
  • Article
  • 26 Mar 2026
  • ICAEW
Geopolitical tensions and domestic cost pressures are weighing on business confidence. While some sectors report pockets of resilience, the overall picture is one of caution.
Palace of Westminster, London
Influencing policy to support you: March 2026
  • Article
  • 26 Mar 2026
  • ICAEW
Alongside reaching out to the Chancellor ahead of the Spring Forecast, ICAEW engaged with policymakers on the impact of the Middle East conflict and the practical ways in which the government could support business-led growth.
Read more

ICAEW Business Confidence Monitor

Read the latest BCM reports

Business Confidence Monitor (BCM) is one of the largest and most comprehensive quarterly surveys of UK business confidence. National, regional and sector reports are available.
View BCM reports
A dial with the ICAEW dividers acting as the needle, and a question mark hovering over it.

UK Economic Update

Monthly bulletins from ICAEW, tracking key trends and developments in the UK economy.
Economic update: impact of Middle East conflict
  • Article
  • Mar 2026
Suren Thiru, ICAEW Chief Economist, reflects on economic data published in March and the impact of the Middle East conflict. With energy prices soaring the Bank of England did not cut interest rates, but the possibility of rate rises are overstated.
Economic update: where is the UK economy heading?
  • Article
  • Feb 2026
The UK economy ended 2025 with a whimper, but the struggle against soaring prices took a decisive turn for the better this month. ICAEW’s Economies Director Suren Thiru discusses the implications and key points to watch.
Economic update: why the UK economy is sending red herring signals
  • Article
  • Jan 2026
The UK economy has grown but business confidence continues to weaken and inflation has risen. Suren Thiru, ICAEW’s Director, Economies, discusses the implications, what you need to know about current economic conditions and key points to watch.
Economic update: What to expect in 2026?
  • Article
  • Jan 2026
Following a difficult end to 2025, the UK’s economic performance is likely to weaken further, despite lower inflation and falling interest rates. Suren Thiru, ICAEW’s Director, Economies, outlines what to expect in the year ahead.
Understanding the economic implications of the Budget
  • Article
  • Nov 2025
Economic update: ICAEW’s Economies Director Suren Thiru discusses the implications of the Budget, what you need to know about current economic conditions and key points to watch.
Economic update: why the Budget is casting a long shadow over the UK economy
  • Article
  • Oct 2025
The UK economy struggles to grow in October. Business confidence continues to fall amid record high concerns over tax ahead of next month’s Budget. ICAEW’s Economies Director Suren Thiru discusses the implications, what you need to know about current economic conditions and key points to watch.
Economic update: why the UK economy is struggling for momentum
  • Article
  • Sep 2025
The UK economy continues to struggle as inflation remains uncomfortably high, and the labour market continues to weaken. ICAEW’s Economies Director Suren Thiru discusses the implications.
Economic update: the UK economy faces a difficult road ahead
  • Article
  • Aug 2025
The UK economy is feeling the effects of growing domestic and international headwinds as GDP slows and inflation continues to rise. ICAEW’s Economies Director Suren Thiru discusses the implications.

Other reports from ICAEW

Webinars and podcasts

Philippa Lamb and Tess Buckley
What does the Iran conflict really mean for British business?
  • Podcast
  • 31 Mar 2026
We’ve already seen immediate spikes and fluctuations in the oil price and the wider financial and commodity markets. But how will the UK economy be affected in the months to come and how heavy a price will British business pay? RSM Chief Economist Tom Pugh shares his thoughts.
Exclusive Retail economic outlook 2026
  • Webinar
  • 11 Feb 2026
Looking ahead, what will drive the economy in 2026 – and how can retailers stay agile and prepare for what’s next?
Iain Wright and David Williamson
A World Cup bump, an AI slump? 2026 predictions
  • Podcast
  • 31 Dec 2025
In the first episode of 2026, our usual team of soothsayers David Williamson, Frances Haque and Iain Wright review the events of the past 12 months, and look ahead to what we might expect in the coming year.
Iain Wright, Guy Ruddle and Frances Haque
Budget 25: where’s the growth?
  • Podcast
  • 01 Dec 2025
This episode is all about the Budget. What was in it? What are the implications? Was there anything positive to glean from it?
Kemi Badenoch with Alan Vallance at Chartered Accountants' Hall
Kemi Badenoch on growth and the profession
  • Podcast
  • 18 Sep 2025
In this special episode of Accountancy Insights, we bring you a timely interview of Kemi Badenoch by ICAEW’s Chief Executive Alan Vallance who sat down with her after a speech she gave at Chartered Accountants’ Hall.
A photo of Keir Starmer
Appraising Starmer’s Labour
  • Podcast
  • 15 Jul 2025
In this episode of Behind the Numbers, we discuss the hits and misses of the Labour government’s first year in power.
a newspaper origami boat on a sea of data numbers
Inside the Industrial Strategy and navigating VAT reform
  • Podcast
  • 08 Jul 2025
In this episode, we discuss the government’s new Industrial Strategy and, in particular, its sector plan for professional and business services.
a photo of four colleagues wearing lanyards and standing around a table discussing a work project, while plans are taped to the walls behind them
Supporting SME growth and professional judgement in audit
  • Podcast
  • 13 Jun 2025
We discuss how SMEs can pursue growth amid economic uncertainty and how auditors should exercise professional judgement and scepticism.
More webinars

Support from the Library

Doing business in...

Use the ICAEW Library's country profiles to explore the key issues for doing business in over 130 countries and jurisdictions. Find business guides and trade data, check the economic and political outlook, and get help with company research.
See country guides
Working globe

External resources

KPMG UK Economic Outlook
  • Website
  • KPMG
KPMG's regular UK Economic Outlook looks at prospects for the economy, providing economic forecasts and analysis from KPMG’s global team of economists.
OECD UK Economic snapshot
  • Website
  • Organisation for Economic Cooperation and Development (OECD)
OECD snapshot of the UK economy, providing economic projection data and covering structural reform priorities.
Office for National Statistics: Economy
  • Website
  • Office for National Statistics
Data on UK economic activity, covering production, distribution, consumption and trade of goods and services.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Can't find what you're looking for?

The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.

Everything business

Find out about the key benefits available for members in business and the support from ICAEW. We are proud of our some 60,000 members working in and running business all over the world.
Read More
Winding road
Information

Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.