OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflationGet our breaking news email, free app or daily news podcastThe world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing Australia’s growth prospects for this year and the next amid the ongoing US-Israel attack on Iran.The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy”, and warned of the “significant downside risk” to their forecasts should the oil supply disruptions prove more persistent and push energy prices even higher. Continue reading...
• The US Composite PMI dropped to 51.4 in March 2026, marking its lowest level since April 2025 and indicating slowing economic growth across the board.
• Business activity hit an 11-month low driven by softened orders and price surges, with the services sector leading the slowdown while manufacturing remained more resilient.
• Employment fell for the first time in over a year amid weakening confidence, while sharp input cost rises pushed selling prices higher across the economy.
• CompTIA's State of the Tech Workforce 2026 report, released March 24, predicts net U.S. tech employment growth of 1.9%, creating 185,499 new jobs to reach nearly 9.8 million workers.
• Texas leads with 32,238 jobs added, followed by California (16,949), Florida (14,453), and New York (13,566); all states expect gains.
• High-growth roles include data scientists (420% over 10 years), cybersecurity analysts (346%), and software developers (188%), driven by AI impact.
• Forrester Research forecasts global technology spending will grow 7.8% in 2026 to $5.6 trillion, up from $5.2 trillion in 2025, driven primarily by continued AI investment across defense, financial services, healthcare, industry, and retail sectors.
• Computer equipment will see the highest growth at 16.8% due to rising AI server demand, with AI-specialized computers expected to capture more than 80% of computer equipment spending by 2030, up from 43% in 2024.
• Financial services and healthcare sectors will see robust technology spending in 2026, driven by investments in cybersecurity, cloud infrastructure, AI, data storage, and AI literacy training despite broader economic volatility.
Rolling coverage of the latest economic and financial newsUK wage growth slows sharply as unemployment holds steadyFed holds interest rates steady as Iran war drives up oil prices and inflation fearsMiddle East crisis live: Trump threatens to ‘blow up’ entire South Pars gasfield if Iran strikes QatarUK wage growth has slowed to a five-year low, in a worrying sign for workers as the Middle East crisis pushes up energy costs.Average pay (excluding bonuses) rose by 3.8% in the three months to January, down from 4.1% in October-December 2025, the Office for National Statistics reports.“With unemployment staying steady at 5.2% and a rare gain in payrolls employment, this report paints a mildly more positive picture of the labour market. And with wage growth softer again, in normal times this would have been a relatively reassuring report for the Bank of England.But the report feels stale in light of the Iran conflict, and the inflation risks stemming from the large spike in energy prices. So while today’s Bank of England meeting had once looked like the likely point of the next rate cut, instead policy is set to be kept on hold today as policymakers give themselves more time to see how the conflict plays out. Continue reading...
ONS data for three months to January is unlikely to convince Bank of England to cut interest ratesBusiness live – latest updatesWage growth slowed sharply in the three months to January according to the latest snapshot of the jobs market from the Office for National Statistics.Average earnings fell to 3.8% in the three months to January, from 4.2%, which was a larger fall than forecast by City economists. It was the slowest rate of wage growth in more than five years. Continue reading...
Rolling coverage of the latest economic and financial newsThe number of people in England and Wales falling into insolvency has jumped.There were 11,609 individual insolvencies registered in England and Wales in February, the Insolvency Service has reported this morning. This was 18% higher than in February 2025 and 6% higher than in January 2026.The individual insolvencies consisted of 768 bankruptcies, 4,210 debt relief orders (DROs) and 6,631 individual voluntary arrangements (IVAs). The number of DROs in February 2026 was a record high in the monthly time series going back to their introduction in 2009, exceeding the previous high of 4,185 in August 2025.The number of IVAs was higher than both January 2026 and the 2025 monthly average. Bankruptcies were 25% higher than in February 2025, although numbers were affected by the clearing of a backlog following the Insolvency Service moving to a new case management system.Average 2-year fix has risen from 4.83% at the start of March to 5.28% today. It’s highest since April 2025.Average 5-year fix has risen from 4.95% at the start of March to 5.32% today. It’s highest since February 2025.“War in the Middle East has added almost £800 to a typical annual mortgage bill in just two weeks, which will be unwelcome news for anyone currently seeking a fixed rate deal.“The average two-year fixed rate has jumped from 4.83% at the start of March to 5.28% today – its highest level since April 2025. The average five-year fix has risen from 4.95% to 5.32%, now at its highest since February 2025. For a borrower with a £250,000 mortgage over 25 years, that equates to paying £788 more per year on a two-year fix, or £651 more on a five-year deal compared to just a fortnight ago. Continue reading...
• The North American family medicine services market, valued at $187 billion in 2025, is projected to reach $241 billion by 2030, growing at a 5% CAGR.
• Growth drivers include expanding health insurance, rising chronic disease prevalence, demand for preventive and primary care, telehealth adoption, and integrated U.S.-Canada systems.
• Preventive care segment expected to expand by $80 billion, chronic disease management by $43 billion, acute care by $16 billion, and others by $8 billion from 2025-2030.
Nvidia shares retreated to around $88 on March 13, 2026, from peaks near $97, even as the company showcased strong quarterly growth potential. Traders noted hits to high-growth names amid broader S&P 500 and Nasdaq declines of 0.5-0.67%. The pullback reflects risk-off sentiment from oil surges rather than company-specific issues. Investors eye upcoming catalysts like AI chip demand for rebound potential.
The US economy grew at a revised 0.7% annualized rate in the October-December 2025 quarter, down from prior estimates, due to impacts from a 43-day government shutdown last fall. This downgrade reflects weaker-than-expected final demand and drags on business investment. Amid current oil shocks, the data heightens stagflation risks, complicating Federal Reserve policy. Economists anticipate upward revisions in Q1 2026 figures depending on energy price trajectories.
Treasury minister Spencer Livermore trails new strategy as chancellor pins hopes on benefits of AI amid global uncertaintyThe NHS and Ministry of Defence will be urged to buy British tech, as the government pins its hopes on the benefits of artificial intelligence to kickstart growth in the face of the Iran crisis, Treasury minister Spencer Livermore has said.The chancellor, Rachel Reeves, will restate her economic strategy in a high profile lecture on Tuesday, just as rocketing oil prices have raised fears of higher inflation and weaker growth. Continue reading...
