UK public sector received more in taxes and other income than it spent, leading to a surplus of £15.4bn – £5.1bn less than expected

• UK hiring on the rise as confidence lifts, research suggests
  

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

A flurry of data this morning will show how the UK economy is faring in early 2025, including the latest borrowing data, retail spending statistics, and a healthcheck on businesses across the country.

7am GMT: UK public finances for January

7am GMT: Great British retail sales for January

9am GMT: Eurozone flash PMI report for February

9.30am GMT: UK flash PMI report for February

2.45pm GMT: US flash PMI report for February