The British economy almost returned to growth in November after two months of contraction, according to the latest official figures. Gross domestic product (GDP), the standard measure of the value of an economy and everything it produces, increased by 0.1%, according to data from the Office for National Statistics. Growth of 0.2% was forecast. Money … Read more
British businesses are heading into the new year in a gloomy mood. New chancellor Rachel ReevesThe increase in employer National Insurance Contributions (NICs) in his autumn budget will increase the cost of employing people, which is likely to impact both hiring and investment. Some sectors face specific challenges: the automotive industry, for example, still grapples … Read more
The UK economy showed no growth last quarter, according to revised figures from the Office for National Statistics (ONS). The previous estimate for July and September indicated that the economy grew by 0.1%. Early estimates show that real GDP per capita fell by 0.2% in the third quarter of 2024, down 0.2% from the same … Read more
The economy remained in reverse gear in October, according to official figures covering the month before the government’s first budget. The Office for National Statistics (ONS) said output fell 0.1% following the 0.1% fall recorded the previous month. It was the first time since the COVID pandemic that the economy contracted for two consecutive months. … Read more
A third successive interest rate cut has been ordered by the European Central Bank (ECB) to help stem the slowdown in the eurozone. The bank’s board said that while its fight against inflation continued to make real progress, it was also acting to help fuel declining demand in the 20 countries that use the euro. … Read more
People from all parts of the UK, representing all age groups, including a significant majority of Labor voters, believe the rate of inflation will rise next year across a range of categories, since invoices and purchases until exits. Nearly three-quarters (71%) of those surveyed between November 22 and 25 expect the inflation rate to increase. … Read more
Labor has come to power and the economy is in decline. It is This is not the news the Chancellor expected, and it highlights the challenges she faces in delivering on the government’s promise to boost growth. The economy contracted by 0.1% in September and grew by just 0.1% in the first three months of … Read more
The UK economy grew by 0.1% between July and September, according to the Office for National Statistics (ONS). However, despite the slight positive GDP growth recorded in the third quarter, the economy contracted by 0.1% in September, dampening overall growth in the quarter. Growth was also slower than experts had expected and down from growth … Read more