Latest news with #Forecast
Fibre2Fashion
14 hours ago
- Business
- Fibre2Fashion
CBI revises down UK GDP growth to 1.2% for 2025
The UK's GDP growth is forecast at 1.2 per cent for 2025, down from an earlier estimate of 1.6 per cent, and 1 per cent for 2026, revised from 1.5 per cent, according to the Confederation of British Industry (CBI). The downgrade reflects increasing domestic cost pressures and continued global uncertainty. In its latest Economic Forecast, the CBI noted that while the year began with promising growth, momentum has slowed due to persistently weak demand, cautious business sentiment, and rising employment costs. Employment costs, driven by increases in National Insurance contributions, reduced thresholds, and a higher National Living Wage, have hit labour-intensive sectors like retail and hospitality particularly hard. These pressures are expected to reduce hiring, raise prices, squeeze profit margins, and limit wage growth. UK economy is facing slow growth, with the CBI downgrading GDP forecasts to 1.2 per cent for 2025 and 1 per cent for 2026 due to weak demand, rising employment costs, and global uncertainty. Business investment and hiring are subdued, while inflation remains elevated. The CBI urges government-business collaboration and a robust industrial strategy to address productivity, skills, and energy costs. Business investment, already dampened by the Autumn Budget, is forecast to grow only modestly due to temporary spikes in the first quarter (Q1) 2025. CBI survey revealed that capital expenditure intentions are at their weakest in nearly five years. International factors also pose risks. Higher US tariffs are expected to modestly reduce UK exports and investment, while overall global volatility continues to weigh on business sentiment. On the consumer front, household spending is expected to gradually strengthen in 2026, supported by rising real incomes, lower interest rates, and easing inflation. However, inflation is set to stay above 3 per cent through 2025 due to high energy and regulated prices before softening to 2.5 per cent next year. Labour market conditions are forecast to soften, with unemployment rising to 4.8 per cent and wage growth easing in 2026. Meanwhile, interest rates are projected to fall gradually, reaching 3.5 per cent by early 2026 as the Bank of England cautiously moves towards its 2 per cent inflation target. Despite these adjustments, the UK's long-term growth prospects remain constrained by poor productivity. Output per worker is expected to stay below pre-pandemic trends, posing a continued drag on economic progress and living standards. 'Our latest Economic Forecast underlines the challenges facing businesses and the wider economy as they're buffeted by domestic and global headwinds. The unpredictable global outlook combined with rising employment costs, gloomy business sentiment, and subdued investment intentions means it's more important than ever that government pulls all the levers it can to set the UK on a path to sustainable growth,' Louise Hellem, chief economist at CBI , said in a press release. 'The spending review signalled a downpayment on hardwiring the growth mission into government priorities, with targeted investment that will raise the long-term ceiling of the economy. But we know that the innovation, investment, and jobs necessary for growth will come from business, not Whitehall, and that government must work with business to create the right conditions to help shift the economy out of low gear.' 'With GDP set to remain modest in 2026, there is an important opportunity for the government to fire up the growth agenda in the forthcoming Industrial Strategy. With the cumulative burden of increased costs being felt by firms across the economy, it is vital the Industrial Strategy helps drive a thriving environment for all businesses. A missing part remains a joined-up people strategy to make sure our industries have the skills, and the labour needed to go after growth opportunities. Unlocking investment through a comprehensive skills strategy, funding the growth & skills levy, tackling high energy costs for UK firms, and setting out a national strategy on tech adoption could help to establish a reinvigorated partnership model for effective collaboration between both government and business,' added Hellem. Fibre2Fashion News Desk (SG)
The Advertiser
2 days ago
- Business
- The Advertiser
How meteorologist Jane Bunn uses AI to update weather forecasts 18 times a day
Weather watchers across regional Australia will have access to cutting-edge forecasting and rainfall information in their pocket following a deal between ACM, the publisher of this masthead, and weather forecasting platform Jane's Weather. The partnership will enhance ACM weather portal with a suite of Jane's Weather services powered by artificial intelligence as well as the exclusive insights of veteran meteorologist Jane Bunn. Jane's Weather forecasts are updated 18 times a day through a weather station network three times the size of the Bureau of Meteorology network. "We're really excited to see the Jane's Weather AI Forecast powering with our interactive maps, warnings that clearly show if you are in the danger zone, all the long-range climate tools and the latest weather news," Ms Bunn, meteorologist for 7News Melbourne, said. "I've always been passionate about making sure the right weather information gets through to as many people as possible, and it's thrilling to see our AI-powered weather helping Australians across the country." The ACM network's reach will put Ms Bunn's expertise and hyper-local, AI-powered forecasts at the fingertips of more regional Australians. is part of the ACM Agri division that includes long-standing specialist agricultural publications The Land in NSW, Victoria's Stock & Land, SA's Stock Journal, Queensland Country Life and WA's Farm Weekly. The weather portal will integrate Jane's Weather's powerful forecasting engine, which is already used by leading farm businesses, construction companies and local councils. Ms Bunn said her forecasts out to eight days were formulated using multiple global weather models and machine learning and were "better than other sources of weather information, especially in regional areas". "We've been really pleased with the accuracy," she said of her service's coverage beyond the Bureau of Meteorology's weather stations. "We have got a network of 2500 stations ... significantly more than the BOM, which helps increase the accuracy of the forecasts." ACM chief financial officer Chris Hitch said: "As Australia's leading agricultural media network, reaching 78 per cent of Australian farmers, ACM Agri is delighted to deliver them both a new, exclusive weather column from Jane as well as access to the most thorough free forecasts via Ms Bunn expects AI to enhance the accuracy of long-range forecasts: "With the 8-10 day forecast, the events are already happening, but longer term forecasts are a different kettle of fish. You don't know how many low pressure systems will connect with a feed of moisture. It is very complex. "There is a lot of machine learning still to come before the AI can deep dive into the data, but we've seen great results with AI in the short-term forecast and I'd love to see that moved into the longer-term window, which is of course what farmers really want. "AI can do things we haven't been able to with the traditional models and it is a very exciting space." She said a key priority would be getting more data points. "The more stations and data we have, the more complete and the more accurate our forecasts become." Ms Bunn said her connections with the agricultural sector had played a key role in establishing her business. "Through my work as a meteorologist I was frequently presenting at agricultural events and I was always being asked what weather app I recommended," she said. "We'd progressed really rapidly from having a limited set of sources via the Bureau of Meteorology and the forecasts you got in the papers and on TV to having so much information out there, but there wasn't anyone collating that information and presenting it in the way farmers need. "That is the aim of Jane's Weather, to provide that critical information in a meaningful way." With this in mind, Ms Bunn said the service looked to survey information from a variety of different models to provide growers with an overall view of the outlook. "We're aiming to dampen that roller coaster that goes with using just one model which may go from 50mm in the first run to 2mm the next then back up to 30mm after that, utilising a range of information gives you a clearer picture," she said. Weather watchers across regional Australia will have access to cutting-edge forecasting and rainfall information in their pocket following a deal between ACM, the publisher of this masthead, and weather forecasting platform Jane's Weather. The partnership will enhance ACM weather portal with a suite of Jane's Weather services powered by artificial intelligence as well as the exclusive insights of veteran meteorologist Jane Bunn. Jane's Weather forecasts are updated 18 times a day through a weather station network three times the size of the Bureau of Meteorology network. "We're really excited to see the Jane's Weather AI Forecast powering with our interactive maps, warnings that clearly show if you are in the danger zone, all the long-range climate tools and the latest weather news," Ms Bunn, meteorologist for 7News Melbourne, said. "I've always been passionate about making sure the right weather information gets through to as many people as possible, and it's thrilling to see our AI-powered weather helping Australians across the country." The ACM network's reach will put Ms Bunn's expertise and hyper-local, AI-powered forecasts at the fingertips of more regional Australians. is part of the ACM Agri division that includes long-standing specialist agricultural publications The Land in NSW, Victoria's Stock & Land, SA's Stock Journal, Queensland Country Life and WA's Farm Weekly. The weather portal will integrate Jane's Weather's powerful forecasting engine, which is already used by leading farm businesses, construction companies and local councils. Ms Bunn said her forecasts out to eight days were formulated using multiple global weather models and machine learning and were "better than other sources of weather information, especially in regional areas". "We've been really pleased with the accuracy," she said of her service's coverage beyond the Bureau of Meteorology's weather stations. "We have got a network of 2500 stations ... significantly more than the BOM, which helps increase the accuracy of the forecasts." ACM chief financial officer Chris Hitch said: "As Australia's leading agricultural media network, reaching 78 per cent of Australian farmers, ACM Agri is delighted to deliver them both a new, exclusive weather column from Jane as well as access to the most thorough free forecasts via Ms Bunn expects AI to enhance the accuracy of long-range forecasts: "With the 8-10 day forecast, the events are already happening, but longer term forecasts are a different kettle of fish. You don't know how many low pressure systems will connect with a feed of moisture. It is very complex. "There is a lot of machine learning still to come before the AI can deep dive into the data, but we've seen great results with AI in the short-term forecast and I'd love to see that moved into the longer-term window, which is of course what farmers really want. "AI can do things we haven't been able to with the traditional models and it is a very exciting space." She said a key priority would be getting more data points. "The more stations and data we have, the more complete and the more accurate our forecasts become." Ms Bunn said her connections with the agricultural sector had played a key role in establishing her business. "Through my work as a meteorologist I was frequently presenting at agricultural events and I was always being asked what weather app I recommended," she said. "We'd progressed really rapidly from having a limited set of sources via the Bureau of Meteorology and the forecasts you got in the papers and on TV to having so much information out there, but there wasn't anyone collating that information and presenting it in the way farmers need. "That is the aim of Jane's Weather, to provide that critical information in a meaningful way." With this in mind, Ms Bunn said the service looked to survey information from a variety of different models to provide growers with an overall view of the outlook. "We're aiming to dampen that roller coaster that goes with using just one model which may go from 50mm in the first run to 2mm the next then back up to 30mm after that, utilising a range of information gives you a clearer picture," she said. Weather watchers across regional Australia will have access to cutting-edge forecasting and rainfall information in their pocket following a deal between ACM, the publisher of this masthead, and weather forecasting platform Jane's Weather. The partnership will enhance ACM weather portal with a suite of Jane's Weather services powered by artificial intelligence as well as the exclusive insights of veteran meteorologist Jane Bunn. Jane's Weather forecasts are updated 18 times a day through a weather station network three times the size of the Bureau of Meteorology network. "We're really excited to see the Jane's Weather AI Forecast powering with our interactive maps, warnings that clearly show if you are in the danger zone, all the long-range climate tools and the latest weather news," Ms Bunn, meteorologist for 7News Melbourne, said. "I've always been passionate about making sure the right weather information gets through to as many people as possible, and it's thrilling to see our AI-powered weather helping Australians across the country." The ACM network's reach will put Ms Bunn's expertise and hyper-local, AI-powered forecasts at the fingertips of more regional Australians. is part of the ACM Agri division that includes long-standing specialist agricultural publications The Land in NSW, Victoria's Stock & Land, SA's Stock Journal, Queensland Country Life and WA's Farm Weekly. The weather portal will integrate Jane's Weather's powerful forecasting engine, which is already used by leading farm businesses, construction companies and local councils. Ms Bunn said her forecasts out to eight days were formulated using multiple global weather models and machine learning and were "better than other sources of weather information, especially in regional areas". "We've been really pleased with the accuracy," she said of her service's coverage beyond the Bureau of Meteorology's weather stations. "We have got a network of 2500 stations ... significantly more than the BOM, which helps increase the accuracy of the forecasts." ACM chief financial officer Chris Hitch said: "As Australia's leading agricultural media network, reaching 78 per cent of Australian farmers, ACM Agri is delighted to deliver them both a new, exclusive weather column from Jane as well as access to the most thorough free forecasts via Ms Bunn expects AI to enhance the accuracy of long-range forecasts: "With the 8-10 day forecast, the events are already happening, but longer term forecasts are a different kettle of fish. You don't know how many low pressure systems will connect with a feed of moisture. It is very complex. "There is a lot of machine learning still to come before the AI can deep dive into the data, but we've seen great results with AI in the short-term forecast and I'd love to see that moved into the longer-term window, which is of course what farmers really want. "AI can do things we haven't been able to with the traditional models and it is a very exciting space." She said a key priority would be getting more data points. "The more stations and data we have, the more complete and the more accurate our forecasts become." Ms Bunn said her connections with the agricultural sector had played a key role in establishing her business. "Through my work as a meteorologist I was frequently presenting at agricultural events and I was always being asked what weather app I recommended," she said. "We'd progressed really rapidly from having a limited set of sources via the Bureau of Meteorology and the forecasts you got in the papers and on TV to having so much information out there, but there wasn't anyone collating that information and presenting it in the way farmers need. "That is the aim of Jane's Weather, to provide that critical information in a meaningful way." With this in mind, Ms Bunn said the service looked to survey information from a variety of different models to provide growers with an overall view of the outlook. "We're aiming to dampen that roller coaster that goes with using just one model which may go from 50mm in the first run to 2mm the next then back up to 30mm after that, utilising a range of information gives you a clearer picture," she said. Weather watchers across regional Australia will have access to cutting-edge forecasting and rainfall information in their pocket following a deal between ACM, the publisher of this masthead, and weather forecasting platform Jane's Weather. The partnership will enhance ACM weather portal with a suite of Jane's Weather services powered by artificial intelligence as well as the exclusive insights of veteran meteorologist Jane Bunn. Jane's Weather forecasts are updated 18 times a day through a weather station network three times the size of the Bureau of Meteorology network. "We're really excited to see the Jane's Weather AI Forecast powering with our interactive maps, warnings that clearly show if you are in the danger zone, all the long-range climate tools and the latest weather news," Ms Bunn, meteorologist for 7News Melbourne, said. "I've always been passionate about making sure the right weather information gets through to as many people as possible, and it's thrilling to see our AI-powered weather helping Australians across the country." The ACM network's reach will put Ms Bunn's expertise and hyper-local, AI-powered forecasts at the fingertips of more regional Australians. is part of the ACM Agri division that includes long-standing specialist agricultural publications The Land in NSW, Victoria's Stock & Land, SA's Stock Journal, Queensland Country Life and WA's Farm Weekly. The weather portal will integrate Jane's Weather's powerful forecasting engine, which is already used by leading farm businesses, construction companies and local councils. Ms Bunn said her forecasts out to eight days were formulated using multiple global weather models and machine learning and were "better than other sources of weather information, especially in regional areas". "We've been really pleased with the accuracy," she said of her service's coverage beyond the Bureau of Meteorology's weather stations. "We have got a network of 2500 stations ... significantly more than the BOM, which helps increase the accuracy of the forecasts." ACM chief financial officer Chris Hitch said: "As Australia's leading agricultural media network, reaching 78 per cent of Australian farmers, ACM Agri is delighted to deliver them both a new, exclusive weather column from Jane as well as access to the most thorough free forecasts via Ms Bunn expects AI to enhance the accuracy of long-range forecasts: "With the 8-10 day forecast, the events are already happening, but longer term forecasts are a different kettle of fish. You don't know how many low pressure systems will connect with a feed of moisture. It is very complex. "There is a lot of machine learning still to come before the AI can deep dive into the data, but we've seen great results with AI in the short-term forecast and I'd love to see that moved into the longer-term window, which is of course what farmers really want. "AI can do things we haven't been able to with the traditional models and it is a very exciting space." She said a key priority would be getting more data points. "The more stations and data we have, the more complete and the more accurate our forecasts become." Ms Bunn said her connections with the agricultural sector had played a key role in establishing her business. "Through my work as a meteorologist I was frequently presenting at agricultural events and I was always being asked what weather app I recommended," she said. "We'd progressed really rapidly from having a limited set of sources via the Bureau of Meteorology and the forecasts you got in the papers and on TV to having so much information out there, but there wasn't anyone collating that information and presenting it in the way farmers need. "That is the aim of Jane's Weather, to provide that critical information in a meaningful way." With this in mind, Ms Bunn said the service looked to survey information from a variety of different models to provide growers with an overall view of the outlook. "We're aiming to dampen that roller coaster that goes with using just one model which may go from 50mm in the first run to 2mm the next then back up to 30mm after that, utilising a range of information gives you a clearer picture," she said.
Bloomberg
25-05-2025
- Business
- Bloomberg
Crypto's Volatility-Loving Fans Bet on Stablecoins For Mainstream Success
Welcome back to The Forecast from Bloomberg Weekend, where we help you think about the future — from next week to next decade. This weekend we're looking at stablecoins taking crypto mainstream, nuclear deterrence theories put to the test, the chances Israel strikes Iran and Florida's struggling real estate market.
Fibre2Fashion
22-05-2025
- Business
- Fibre2Fashion
EU to see GDP growth of 1.1%, euro area 0.9% in 2025: Spring Forecast
The European Commission's Spring Forecast for the European Union (EU) released recently projected 2025 real gross domestic product (GDP) growth at 1.1 per cent in the EU and 0.9 per cent in the euro area—broadly those seen in 2024. This is a considerable downgrade compared to the Autumn 2024 Forecast. EU growth is likely to rise to 1.5 per cent in 2026, backed by continued consumption growth and a rebound of investment. Growth in the euro area is projected to reach 1.4 per cent in 2026. Exports from the EU are expected to grow by a modest 0.7 per cent this year and by 2.1 per cent in 2026, in line with the lower global demand for goods, the Forecast notes. This marks a significant downward revision from the autumn projections—at 2.2 per cent and 3 per cent respectively. The EU Spring Forecast has projected 2025 real GDP growth at 1.1 per cent in the EU and 0.9 per cent in the euro areaâ€'broadly those seen in 2024 and a considerable downgrade from the Autumn 2024 Forecast. Growth in EU and the euro area are likely to rise to 1.5 per cent and 1.4 per cent respectively in 2026. EU exports are expected to grow by 0.7 per cent in 2025 and by 2.1 per cent in 2026. Weakness in exports is amplified by competitiveness losses, as well as heightened trade uncertainty. Although EU firms are adapting their trade strategies in response to geopolitical tensions and trade fragmentation, many might hesitate to bear the high fixed costs associated with product adaptation, regulatory compliance and finding new distribution networks, necessary to enter new export markets, the Forecast says. Growth in imports was also revised down, in line with lower export growth and weaker domestic demand, although the re-routing of some Chinese exports and the euro's appreciation lend some support to import growth. Consequently, in 2025, net external demand is set to subtract nearly 0.5 per cent from growth, but this drag is expected to fade in 2026, the Spring Forecast says. Despite adverse trade volume developments, the sharp drop in energy commodity prices, cheaper industrial goods imports and a stronger currency will enhance the terms of trade further. These movements in terms of trade help maintain a largely unchanged inflow of income from the rest of the world. Disinflation is anticipated to proceed more swiftly than expected in autumn, with new disinflationary factors from ongoing trade tensions outweighing higher food prices and stronger short-term demand pressures. After averaging 2.4 per cent in 2024, headline inflation in the euro area is expected to meet the European Central Bank (ECB) target by mid-2025—earlier than previously anticipated—and to average 1.7 per cent in 2026. Starting from a higher level in 2024, inflation in the EU is projected to continue easing to 1.9 per cent in 2026. The current account surplus is expected to fall only slightly from 4.4 per cent of GDP in 2024 to 4.2 per cent in both this year and the next. Following a 1.9-per cent contraction in 2024, EU gross fixed capital formation is expected to expand over the forecast horizon. With a growth rate of 1.5 per cent in 2025 and 2.4 per cent in 2026, the expected rebound and acceleration are significantly less pronounced than projected in autumn. As the labour force expands more modestly, the EU unemployment rate is projected to decline to a new historic low of 5.7 per cent in 2026. Tight labour markets and improving productivity are set to drive further wage growth. After increasing by 5.3 per cent in 2024, growth in nominal compensation per employee is expected to slow to 3.9 per cent in 2025 and 3 per cent in 2026. On aggregate in the EU, this year, real wages should fully recover the purchasing power losses accrued since mid-2021, though in a few member states the recovery in real wages is still lagging behind, the report adds. Fibre2Fashion News Desk (DS)
Bloomberg
11-05-2025
- Business
- Bloomberg
‘AI-Native' Startups Take Pride in Keeping Headcount Low
Welcome back to The Forecast from Bloomberg Weekend, where we help you think about the future — from next week to next decade. This week we're looking at how AI-native startups keep headcount low, a turning point for renewable energy and a marriage drought in China.
