UK economy returns to growth in May
5 months, 1 week ago

UK economy returns to growth in May

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. ONS director of economic statistics Liz McKeown said: “The economy grew strongly in May, with all the main sectors seeing increases. “Construction grew at its fastest rate in almost a year after recent weakness, with housebuilding and infrastructure projects boosting the industry.” The services sector remained a key driver for economic growth across the UK, the ONS said, with its fifth consecutive monthly increase. Chancellor Rachel Reeves said: “Delivering economic growth is our national mission, and we don’t have a minute to waste.” The figures come after a 0.6% increase in the first quarter of 2024, having rebounded from a shallow recession in the latter half of 2023. Rob Wood, chief UK economist at Pantheon Macroeconomics, said: “The UK economy is well and truly putting last year’s minor recession behind it.

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British economy flatlines in 3rd quarter in another blow to new Labour government
1 day, 7 hours ago

British economy flatlines in 3rd quarter in another blow to new Labour government

Associated Press  

LONDON — The British economy flatlined in the third quarter of the year, according to downwardly revised official figures Monday, in another blow to the new Labour government that has made growth its number one mission. In its latest revision of the July to September period, the Office for National Statistics said the British economy showed no growth against the …

UK economy shrinks again in another blow to Reeves, new figures show
1 week, 4 days ago

UK economy shrinks again in another blow to Reeves, new figures show

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves said the figures were disappointing “We are determined to deliver economic growth as …

UK economy under Labour stalls - what that means for you and your money
1 month, 1 week ago

UK economy under Labour stalls - what that means for you and your money

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves has said …

Why did the UK economy slow in the third quarter, and what does it mean?
1 month, 1 week ago

Why did the UK economy slow in the third quarter, and what does it mean?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chancellor Rachel Reeves has said she is “not satisfied” …

UK Treasury chief says she’s not satisfied by paltry third-quarter economic growth
1 month, 1 week ago

UK Treasury chief says she’s not satisfied by paltry third-quarter economic growth

Associated Press  

LONDON — Britain’s Treasury chief Rachel Reeves said Friday that she is “not satisfied” by official figures showing the British economy’s rebound from recession slowed down sharply in the third quarter of the year, as the country’s top central banker voiced his concerns about the economic damage wrought by the U.K.'s departure from the European Union. The Conservatives’ Treasury spokesperson, …

UK economic growth upgraded this year amid ‘temporary boost’ from spending
1 month, 3 weeks ago

UK economic growth upgraded this year amid ‘temporary boost’ from spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

UK economic growth forecasts downgraded for next two years – economists
2 months ago

UK economic growth forecasts downgraded for next two years – economists

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. EY Item Club’s latest quarterly economic forecast also suggested that caution by Bank of …

Why did the UK economy grow in August and what does it mean?
2 months, 1 week ago

Why did the UK economy grow in August and what does it mean?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Gross domestic product – or GDP – is the …

OECD optimistic about UK's economy
2 months, 3 weeks ago

OECD optimistic about UK's economy

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. In an optimistic assessment likely to please the UK's new Labour Party government, the Paris-based organization said it expects the UK economy to be the joint-second fastest-growing among G7 nations. In its latest twice-yearly global economic outlook, the OECD predicted the …

UK economy flatlines in July for second month running
3 months, 1 week ago

UK economy flatlines in July for second month running

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy flatlined in …

UK economy the fastest growing in the G7 in 2024, economists say
4 months, 1 week ago

UK economy the fastest growing in the G7 in 2024, economists say

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That is why we have made economic growth our national …

UK economy grows 0.6% between April and June as it recovers from recession
4 months, 1 week ago

UK economy grows 0.6% between April and June as it recovers from recession

Associated Press  

LONDON — Britain’s economy continued its recovery from recession at the end of last year, with its GDP increasing by 0.6% between April and June, official figures showed Thursday. “The U.K. economy has now grown strongly for two quarters, following the weakness we saw in the second half of last year,” said Liz McKeown, director of economic statistics at the …

UK growth slows slightly in second quarter
4 months, 1 week ago

UK growth slows slightly in second quarter

Hindustan Times  

Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday. UK growth slows slightly in second quarter The country's economy is growing after it exited a mild recession at the end of last year, helped by inflation falling back from four-decade highs. "The new …

UK finally sees growth in economy during May
5 months, 1 week ago

UK finally sees growth in economy during May

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. The United Kingdom economy bounced back in May, showing signs of growth after a stagnant April and marking a continuation of the country's recovery from last year's recession. The Office for National Statistics, or ONS, reported a 0.4 percent increase in …

UK economy flatlines in fresh blow to Rishi Sunak’s election hopes
6 months, 1 week ago

UK economy flatlines in fresh blow to Rishi Sunak’s election hopes

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy recorded no growth in April in a blow …

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts
7 months ago

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

UK economy exits recession after 0.6% growth in latest quarter
7 months, 2 weeks ago

UK economy exits recession after 0.6% growth in latest quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. ONS director of economic statistics Liz McKeown said: “After …

U.K. exits recession with better-than-expected 0.6% GDP growth
7 months, 2 weeks ago

U.K. exits recession with better-than-expected 0.6% GDP growth

The Hindu  

The data will be welcome news for Prime Minister Rishi Sunak who said the economy had “turned a corner” Britain's economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an …

Scottish economy estimated to have shrunk by 0.3% in February, figures show
7 months, 3 weeks ago

Scottish economy estimated to have shrunk by 0.3% in February, figures show

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Scotland’s economy is estimated to …

UK economy went into shallow recession in 2023: Official data
8 months, 3 weeks ago

UK economy went into shallow recession in 2023: Official data

Live Mint  

Britain's economy entered a shallow recession last year, official figures confirmed on Thursday, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year. "The weak starting point for GDP this year means calendar-year growth in 2024 is likely to be limited to less than 1%," …

UK did go into recession at the end of 2023, according to new ONS figures
8 months, 3 weeks ago

UK did go into recession at the end of 2023, according to new ONS figures

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Responding to Office for National Statistics gross domestic product quarterly …

UK Economy Rebounds in January After Slipping Into Recession
9 months, 1 week ago

UK Economy Rebounds in January After Slipping Into Recession

Hindustan Times  

The UK economy rebounded in January, registering modest growth after falling into a technical recession in the second half of last year. “Momentum is likely to remain weak in the near-term, but the outlook for this year is improving.” Growth in January was boosted by strong retail sales as a 2 percentage point cut in national insurance, a payroll tax, …

UK economy at risk of recession after surprise third quarter decline
1 year ago

UK economy at risk of recession after surprise third quarter decline

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The broader picture, though, remains one of an economy …

Recession fears as UK economy shrinks by more than expected
1 year, 3 months ago

Recession fears as UK economy shrinks by more than expected

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Paul Dales, chief UK economist at Capital, said a …

British economy unexpectedly grows by 0.2% in second quarter largely because of June weather boost
1 year, 4 months ago

British economy unexpectedly grows by 0.2% in second quarter largely because of June weather boost

Associated Press  

LONDON — The British economy unexpectedly grew in the second quarter of the year, largely as a result of a strong rebound in June when many businesses particularly in the leisure sector benefited from the warm and settled weather, official figures showed Friday. Despite the increase, the British economy is the only Group of Seven leading industrial economy yet to …

UK growth beats expectations in second quarter
1 year, 4 months ago

UK growth beats expectations in second quarter

The Telegraph  

Households increased spending on restaurants and transport, bringing a 0.7pc increase in real household expenditure across the quarter. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: “The UK remains the only G7 country in which the main quarterly measure of GDP has not recovered to its pre-Covid peak yet.” Quarterly GDP was 0.2pc below its pre-pandemic level. Strong growth …

Britain faces years of stagnation because of high interest rates, economists warn
1 year, 5 months ago

Britain faces years of stagnation because of high interest rates, economists warn

The Telegraph  

Britain is facing a prolonged economic slump caused by higher interest rates, economists have warned, with the battle against inflation set to weigh on growth for years to come. In its latest quarterly update, the group said the economy is set to grow by 0.8pc next year, less than half its previous prediction of 1.9pc. Martin Beck, chief economic adviser …

Economy ‘loses momentum again’ as private sector growth slows despite retail boost
1 year, 6 months ago

Economy ‘loses momentum again’ as private sector growth slows despite retail boost

The Independent  

Britain’s economy “has lost momentum again” as growth in the private sector dropped to its slowest for three months, despite an unexpected boost in retail sales. Data from the Office for National Statistics showed that retail sales volumes rose 0.3 per cent in May, better than the 0.2 per cent drop that economists had forecast. But May’s overall 0.3 per …

UK economy is no longer to fall into a recession in 2023, says IMF
1 year, 7 months ago

UK economy is no longer to fall into a recession in 2023, says IMF

Firstpost  

Britain’s economy is no longer will fall into a recession this year, the International Monetary Fund said on Monday, adding that it upgraded forecasts published last month and warned that the outlook remains subdued. “The improved outlook reflected the unexpected resilience of demand, helped in part by faster than usual pay growth, higher government spending and improved business confidence,” it …

UK economy shrinks 0.3% in three months through October
2 years ago

UK economy shrinks 0.3% in three months through October

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

UK economy shrinks as economists warn of more pain to come
2 years, 1 month ago

UK economy shrinks as economists warn of more pain to come

Associated Press  

LONDON — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. Martin McTague, national chairman of the Federation of Small Businesses, said the fall in GDP “is one headline figure made up of countless bits of disappointing news for small businesses across the country – a …

UK economy to enter recession until summer 2023, financial experts warn
2 years, 2 months ago

UK economy to enter recession until summer 2023, financial experts warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. A combination of high energy …

Britain ‘step closer to recession’ after economy shrank in August
2 years, 2 months ago

Britain ‘step closer to recession’ after economy shrank in August

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s economy unexpectedly shrank in …

U.K. economy unexpectedly shrinks in August, falls by 0.3%
2 years, 2 months ago

U.K. economy unexpectedly shrinks in August, falls by 0.3%

The Hindu  

Britain's economy shrank by 0.3% in August, hit by weakness in manufacturing and maintenance work in North Sea oil and gas fields, according to official data which underscored the challenge for Prime Minister Liz Truss to speed up growth. "The economy shrank in August with both production and services falling back, and with a small downward revision to July's growth …

Three charts that show Britain’s economic recovery is a mirage
2 years, 5 months ago

Three charts that show Britain’s economic recovery is a mirage

The Telegraph  

Britain’s economy put on an unexpected growth spurt in May, sending GDP up 0.5pc. Yet a deeper delve into the numbers shows the UK’s economic recovery is a mirage, with private sector growth still weak. “The robust 0.5pc bounce in GDP in May means that the economy may have just flatlined in the second quarter rather than contracting,” he says. …

UK economic growth slows in February as cost-of-living crisis starts to bite
2 years, 8 months ago

UK economic growth slows in February as cost-of-living crisis starts to bite

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Suren Thiru, head of economics at the British Chambers …

UK GDP: Recovery still lagging other G7 economies as growth slows
3 years, 1 month ago

UK GDP: Recovery still lagging other G7 economies as growth slows

CNN  

London CNN Business — UK GDP growthslowed between July and September, leaving the economy still around 2% smaller than it was before the pandemic and trailing the recovery in other G7 nations. The UK economy, struggling with supply chain disruptions and high energy prices, expanded by 1.3% in the quarter, down from growth of 5.5% in the previous three-month period …

UK economy grows 4.8% as hospitality bounces back from lockdown
3 years, 4 months ago

UK economy grows 4.8% as hospitality bounces back from lockdown

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chancellor Rishi Sunak said the latest figures showed the …

Britain's economy springing back to life with ease in lockdown
3 years, 8 months ago

Britain's economy springing back to life with ease in lockdown

Daily Mail  

Britain's economy is springing back to life as the rollout of Covid vaccines and easing of lockdown restrictions boost business. Upbeat: In a boost for Chancellor Rishi Sunak, economists now believe Britain is heading for its strongest year of growth since 1988 The ONS said retail sales rose 5.4 per cent last month despite 'non-essential' stores remaining shut, amid strong …

UK recession is worst of any major economy
4 years, 4 months ago

UK recession is worst of any major economy

CNN  

London CNN Business — UK economic output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the deepest recession of any major global economy. But while there are difficult choices to be made ahead, we will get through this, and I can assure people that nobody will be left without …

UK economy slumps 20% in 2nd quarter, unemployment fears mount
4 years, 4 months ago

UK economy slumps 20% in 2nd quarter, unemployment fears mount

India Today  

Britain’s economy shrank by a record 20.4% between April and June when the coronavirus lockdown was tightest, the largest contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020. Despite this, GDP in June still remains a sixth below its level in February, before the virus struck.” Last week the …

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