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1. Economic growth slows in UK
U.K. economic growth slowed in the second quarter of 2025 but the figure came in higher than anticipated, the BBC reports. The economy expanded by 0.3% between April and June, down from 0.7% in the first quarter.
The relative success in the quarter could lead to the Bank of England to hold off on further interest rate cuts until inflation starts to near its 2% target, said Susannah Streeter, head of money and markets at Hargreaves Lansdown, . Ruth Gregory, deputy chief UK economist at Capital Economics, said it's doubtful that the country will maintain this pace of growth in the third quarter, though.
"The full drag on business investment from April's tax rises has yet to be felt. And the ongoing speculation about further tax rises in the Autumn Budget will probably keep consumers in a cautious mood," Gregory said.
2. US wholesale inflation spikes in July
Wholesale inflation in the U.S. surged in July, a potential sign that President Donald Trump's tariffs are starting to have an impact on prices, the Associated Press reports.
The Labor Department's producer price index — which measures inflation before it hits consumers — was up 0.9% in July compared to June and up 3.3% year over year. Economists projected the numbers to come in significantly lower than they did.
3. Hotel executives expect mixed results in remainder of 2025
The second quarter was tough for most hotel companies, and things aren't expected to get much better in the third quarter, CoStar News' Bryan Wroten reports. But there are hints of optimism in a strong close to the year in the fourth quarter, which could provide some momentum into 2026.
"As we look ahead to the third quarter, we expect RevPAR to be flat to modestly down again, with holidays and calendar shifts continuing to weigh on reported results. On an adjusted basis, we would expect modest RevPAR growth. For the full year, we continue to expect RevPAR growth of flat to up 2% with improving trends in the fourth quarter, driven by a modest increase in demand and easier year-over-year comparisons," Hilton President and CEO Chris Nassetta said during his company's second-quarter earnings call.
4. London room rates hit records in July
London's hotel industry had the highest average daily rate and revenue per available room for a month on record in July, thanks to the Wimbledon Championship and the Oasis Tour, STR reports.
According to CoStar data, London ADR in July was at £234.58 ($317.72) and RevPAR was £207.93, up 2.4% and 3.3%, respectively, year over year. Occupancy was up 0.9% over last year at 88.6%.
Wimbledon was responsible for the month's best nightly performance on July 12, the night of the women's finals. An occupancy of 94.7% and ADR of £276.72 led to RevPAR of £262.01.
5. Weekly jobless claims fall in US
The number of Americans filing for jobless benefits decreased by 3,000 to 224,000 for the week ending Aug. 9, according to Labor Department data, the Associated Press reports. It was below economists' projections of 230,000 new applications.
Layoffs remain well below historical standards, but there are signs that the labor market is weak, the AP reports. The number of people quitting their jobs was its lowest level since December in June, a sign that confidence in finding a better job is low.