Test your knowledge with City AM‘s Economics Quiz of 2025.
The first full calendar year of the Labour government has not been particularly pretty for the UK economy.
The unemployment rate has edged up to 5.1 per cent, inflation rose far above the Bank of England’s 2 per cent target rate and economic activity was largely driven by firms “front-loading” ahead of President Trump’s tariffs and high government expenditure in the earlier parts of the year.
Bond markets have twitched, wage growth has flared up and business investment has wavered. AI, meanwhile, has left investors on edge, white-collar workers skeptical and politicians giddy.
There have been busts, booms, U-turns and follow-throughs. Business surveys have shown confidence levels reaching surprising highs and record lows.
The Bank of England, along with other central banks, has also faced more intense scrutiny than ever. Cryptocurrency, quantitative tightening and financial deregulation has put Governor Andrew Bailey in the crosshairs with everyone from Rachel Reeves to Nigel Farage.
After 15 years of marking the government’s work, the future of the Office for Budget Responsibility (OBR) is also under question.
Amid all the ‘geopolitical uncertainty’, ‘macroeconomic challenges’, ‘financial instability’, ‘fiscal problems’, ‘monetary risks’, ‘price vulnerabilities’ and ‘market weakness’ in this ‘uncertain world’, City AM has put together this quiz to help you reflect on a momentous 12 months.