Tariff truce staves off triple-digit duties as US retailers start stockpiling for holiday season; UK labour market slows as employers hold off hiring
The breakdown of the ONS data shows that the wholesale, retail, hotels and restaurants sector posted the strongest annual regular growth rate (excluding bonuses), at 6.8%, in April to June.
The finance and business services sector, which pay out more bonuses, had the lowest annual regular growth rate, at 3.1%.
Turning to the UK labour market, which is clearly losing momentum, with employers cutting back on bonuses and hiring.
Suren Thiru, economics director at the Institute of Chartered Accountants in England and Wales, said:
