Tag: UK economy

• Monday, January 20th 2025 - 05:56 UTC

  Shock-Proofing the UK Economy

  

  By Mohamed A. El-Erian (*) - No country wants external developments to drive up its borrowing costs and weaken its currency, which is what the UK is facing today, together with serious cyclical and structural challenges. But if the British government responds appropriately, recent market volatility might turn out to have a silver lining.

• Monday, May 27th 2024 - 06:30 UTC

  UK economy challenges following the general election, Fiscal Studies think tank

  

  A leading UK think tank, The Institute for Fiscal Studies, (IFS), has issued a stark warning about the financial challenges awaiting the next government, whatever party wins the July General Election. In a long report, it warns more tax rises or cuts to public services can be expected, and calls for an “open and robust” discussion about how all the parties will tackle these.

• Monday, April 3rd 2023 - 09:50 UTC

  UK economy just avoided recession in 2022, pushed by 0,1% growth in fourth quarter

  

  The UK economy avoided recession in the second half of last year, posting 0.1% growth in the fourth quarter. The original estimate for GDP, between October and November, released by the Bank of England in mid-February had shown zero growth.

• Friday, June 12th 2020 - 08:57 UTC

  UK economy contracted 20,4% in April, according to Stats Office

  

  The UK economy shrank by 20.4% in April, according to figures outlined by the Office for National Statistics on Friday morning.

• Saturday, November 9th 2019 - 10:45 UTC

  Brexit-era paralysis: Moody's downgrades UK's debt to negative

  

  Moody's on Friday downgraded the outlook for Britain's debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative from stable but kept the debt at the investment-grade Aa2.

• Monday, September 9th 2019 - 09:25 UTC

  London losing ground in shipping services, says PwC report for Maritime London pointing to Brexit and taxes

  

  Britain's position as a top hub for maritime services is being eroded by competition, a loss of shipping finance business and the removal of tycoon-friendly tax breaks, a report said, deepening uncertainty for its financial sector as Brexit nears.

• Thursday, April 11th 2019 - 06:14 UTC

  Stockpiling ahead of Brexit helped spur the UK economy, says stats office

  

  Stockpiling by manufacturers ahead of Brexit helped the UK economy grow by 0.3% in the three months to February. The national s pointed to manufacturers “changing the timing of their activities” as the UK's exit from the EU approaches.

• Saturday, March 30th 2019 - 08:10 UTC

  UK business groups “devastated” with Parliament handling of Brexit debate

  

  Business groups have said they are “devastated” after Parliament's latest rejection of the prime minister's EU withdrawal plan. They urged MPs and the government to find a solution and stave off the “nightmare” of a no-deal Brexit.

• Wednesday, February 20th 2019 - 08:32 UTC

  UK record employment in 2018 fourth quarter; jobless rate 4%, lowest since 1975

  

  The number of people in work in the UK has continued to climb, with a record 32.6 million employed between October and December, the latest Office for National Statistics figure show. Unemployment was little-changed in the three-month period at 1.36 million.

• Tuesday, February 12th 2019 - 10:27 UTC

  UK economy recorded last year the lowest growth since 2012, 1.4%

  

  Britain's economy contracted in December, official figures revealed on Monday, suggesting that uncertainty over whether the country will leave the European Union with or without a deal is starting to hurt. Data from the UK's Office of Nation al Statistics, ONS, shows that gross domestic product (GDP) contracted by 0.4% in December.