Spring Statement 2026: UK Economic Update Amid Weak Growth and Rising Risks

In this paper, we discuss:

• The UK’s weak growth outlook, with GDP growth expected around 1.1%;
• Inflation risks, particularly from rising energy prices;
• A weakening labour market, with rising unemployment and falling vacancies;
• Structural challenges including weak productivity and investment;
• Fiscal and geopolitical risks that could worsen the economic outlook.

Download PDF: UK Economy – March 2026