Rolling coverage of the latest economic and financial newsChina manufacturing activity plummets amid Trump tariff warEconomists are concerned that France’s economy remains weak, after it posted modest growth of 0.1% in the last quarter this morning.Bloomberg Economics says:“Business surveys suggest that this rebound in activity is already losing some momentum going into the second quarter. The services sector is still lagging while the manufacturing sector appears to be bracing for tariffs.We anticipate sluggish GDP growth of 0.1% in the second quarter, as tighter financial conditions and the impact of tariffs weigh on investment. Overall, our baseline forecast is for 2025 output growth is 0.5%.”“The Spring selling season has progressed in line with expectations, with good levels of customer demand reflected in our sales rate. As a result, we are today reiterating our guidance for full year UK completions excluding JVs [joint ventures] and Group operating profit.Notwithstanding the wider macroeconomic backdrop, affordability is improving with lenders remaining committed to the housing market, albeit first time buyers continue to experience some challenges. Continue reading...