The UK economy ended 2019 in stagnation, under pressure from long-term uncertainty, mounting business costs and a global economic slowdown, according to a business survey. The British Chambers of Commerce’s (BCC) latest quarterly economic snapshot, based on a poll of 6,500 firms across the country in November, painted a gloomy picture of the economy at the end of the last decade. The service sector, which accounts for almost 80% of economic output, worsened in the final quarter of the year. Indicators for factories’ export and domestic orders were negative for two consecutive quarters for the first time in a decade, and manufacturers’ investment plans hit an eight-year low. Cash flow, a key indicator of the health of businesses, improved slightly from its lowest level in eight years but remained very weak across the manufacturing and service industries. Suren Thiru, the BCC’s head of economics, said: “The UK economy limped through the final quarter of 2019. “The fourth quarter was characterised by a broad-based slowdown in the dominant services sector with all key indicators weakening in the quarter, amid sluggish household expenditure and crippling cost pressures. “Despite some improvements, indicators in the manufacturing sector remain very weak by historic standards. A faltering service sector together with listless manufacturing activity points to a downbeat outturn for UK GDP growth in the fourth quarter of 2019.”
Greggs (GRG) will end speculation about its hotly anticipated new vegan snack by launching a meat-free version of its popular steak bake. Since the runaway success of its meatless sausage roll, the chain – which serves more than 6 million customers a week from its 2,000 outlets – has been working to develop vegan versions of its other bestselling items. The new product arrives on Greggs’ shelves at the start of Veganuary – a growing movement that encourages people to embrace plant-based diets during January. The vegan steak bake has been created to mirror some of the original snack’s features, including 96 thin layers of puff pastry but without the egg glaze. The filling is made with pieces of the fungi-based protein Quorn instead of beef, mixed with diced onions and meat-free gravy. Costing from £1.55, it will go on sale in 1,300 shops from Thursday before being rolled out to the remaining 700 outlets on 16 January. Greggs’ chief executive, Roger Whiteside, said: “Our vegan sausage roll launch was a huge success and we’ve been working tirelessly to expand our vegan-friendly offering and provide more delicious savoury food on-the-go options for people looking to reduce their meat intake.”
