UK economy - Page 4

The first quarter of the year saw a 2 per cent fall in GDP in the UK, the worst fall since the final quarter of 2008.

Government projections reveal the British economy is facing a historic economic downturn as a result of coronavirus, and the lockdown.

Defying naysaying anti-Brexiteers, the United Kingdom marked it departure from the European Union by recording the highest employment rate in history, with nearly 33 million people employed.

The Treasury Secretary of the United States, Steve Mnuchin, said that the Trump administration expects to sign a post-Brexit trade deal with the United Kingdom by the end of this year.

China has halted cross-border listings between the London and Shanghai stock exchanges amidst growing tension between the communist regime and the United Kingdom over Hong Kong.

The United Kingdom is set to raise the national living wage by April in what the government describes as “the biggest cash increase ever”. However, business owners worry the raise will negatively impact employment.

The Treasury under the leadership of Prime Minister Boris Johnson plans to shift government spending outside of London, focussing on economically deprived areas in the north and the Midlands.

The UK has once again defied the expectations of economists, enjoying the 13th quarter of growth since the 2016 Brexit referendum.

The Bank of England has relaunched its ‘Project Fear’ campaign after claiming that in the result of a clean, no deal, break from the European Union, the UK will suffer a massive fall in GDP and a sharp rise in unemployment.

Official figures show that average earnings in Britain are rising at their highest rate since the most acute phase of the global financial crisis a decade ago.

Brexit voters would still support leaving the European Union (EU) if the divorce had economic effects such as higher prices and travel costs, a poll has revealed.

The unelected European Commission has made dire predictions for the UK economy ahead of Brexit trade talks, contradicting the recent claims of the Chancellor.

Tony Blair has claimed Friday that Brexit is already damaging Britain’s economy by hitting productivity – hours before new data revealed productivity growth has, in fact, hit a six-year high.

UK companies can expect a surge in dealmaking this year as the nation retains its place as the third most favourable destination for companies to invest.

LONDON (AP) — Britain’s economy picked up slightly in the three months through September, official figures showed Wednesday, making it more likely that the Bank of England could raise interest rates next month for the first time in a decade.

(REUTERS) – British manufacturing grew more strongly than expected in December, showing the economy remained resilient to the end of the year despite June’s Brexit vote shock, although 2017 looks like it will be more difficult.

LONDON (AP) — The Bank of England revised up its economic growth forecasts for the British economy for the coming three years, crediting much of the improvement to the government’s decision to ease up on austerity in the wake of the country’s vote to leave the European Union.

(AFP) – Britain’s economy grew by 0.6 percent in the final three months of last year and by 2.0 percent over 2016, official data showed Thursday as the country prepares for Brexit.

A report by an environmentalist charity has said near-record population growth in the UK will cost the economy billions in coming years, but instead of cutting immigration, it urges the native population to have fewer children.

The UK’s massive foreign aid budget is helping to fund middle-class luxuries in booming economise, including Pakistan’s version of Amazon, Chinese restaurant chains, online gambling websites, five-star hotels and luxury shopping malls.

Britain’s financial services paid a record amount in taxes last year, new figures revealed Tuesday, emphasising the sector’s importance as the country prepares to withdraw from the European Union.

(REUTERS) – British companies continued to grow modestly in the three months to November and are expected to keep up that pace into 2017, a survey showed on Sunday, chiming with a resilient picture for the British economy so far since June’s EU referendum vote.

British companies brushed off the uncertainty over Brexit in the three months after June’s referendum and increased their investment, helping to drive solid growth in the economy, official data showed on Friday.

(REUTERS) – Chancellor Phillip Hammond will this week announce 1.3 billion pounds in new spending on roads as part of his plans to bolster the economy as Britain prepares to leave the European Union, the Treasury said on Sunday.

(REUTERS) – Britain’s unemployment rate fell in the first three months after the Brexit vote to its lowest level in 11 years but there were some signs that a slowdown in the labour market could be coming.

LONDON (Reuters) – Bank of England Governor Mark Carney said on Monday he will stay in his job for an extra year until the end of June 2019 to help smooth Britain’s departure from the European Union, but he will depart two years short of a full term.

(REUTERS) – British lender Virgin Money Holdings Plc (VM.L) reported a 19 percent jump in nine-month gross mortgage lending, and said customer demand continued to be strong after Britain’s vote to leave the European Union.

(REUTERS) – Britain’s economy slowed only slightly in the three months after the Brexit vote and carmaker Nissan said it would build more cars in the country, tempering fears about the immediate economic impact of the decision to leave the European Union.

(REUTERS) – Japanese carmaker Nissan (7201.T) will build two new models in Britain despite the vote to quit the EU, giving Prime Minister Theresa May her most important corporate endorsement since the Brexit referendum in June.

Britain’s economy barely slowed in the third quarter despite the Brexit vote shock, further diminishing the chance of a fresh interest rate cut by the Bank of England next week.

(REUTERS) – Lloyds Banking Group (LLOY.L) defied expectations on Wednesday of a squeeze on earnings after Britain’s surprise vote to quit the European Union by reporting third-quarter profits largely unchanged from a year earlier.

(REUTERS) – Sterling rose on Wednesday amid indications Britain may avoid an aggressive and potentially damaging exit from the European Union, while the dollar hit a seven-month high against a basket of major rivals ahead of the release of Federal Reserve meeting minutes.

LONDON, Sept 30 (Reuters) – British house prices rose more slowly in September than in August, according to figures from mortgage lender Nationwide, adding to signs of a cooling in the housing market after voters decided in June to leave the European Union.

LONDON, Sept 30 (Reuters) – Britain’s giant services sector grew much more strongly than expected in July in the clearest sign to date that the economy did not slow sharply after the shock of the country’s Brexit vote in June.

(REUTERS) – British consumer morale rocketed back to pre-Brexit levels in September, a survey found, confounding expectations that the vote to leave the EU would wreak more lasting damage on Briton’s willingness to spend.

The bounce back in Britain’s economy from the initial shock of the Brexit vote has expanded to the country’s recruitment and housing markets, according to two surveys which had previously painted a bleak outlook.