Tag: UK

Gross domestic product fell by 0.1% in September, following growth of just 0.2% the previous month, according to the Office for National Statistics. Economists polled by Reuters had expected growth of 0.2% for September.

UK inflation fell more than expected to a three-year low of 1.7 per cent in September, prompting the pound to fall and traders to increase bets on further rate cuts from the Bank of England this year.

The U.K. economy returned to growth in August following two consecutive months of stagnation, providing a slight boost as the Labour government prepares to deliver its first budget later this month.

Sterling was down 1.33% to $1.3091 at 12:35 p.m. in London, its lowest intraday level since Sept. 12. The drop put sterling on course for its steepest daily decline against the greenback for more than 20 months, according to a CNBC calculation of LSEG data.

U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations.

The UK economy unexpectedly stagnated for a second consecutive month in July, in a blow to the newly elected Labour government that has promised to boost the country’s growth performance.

UK shop prices have entered deflation for the first time in almost three years as retailers discounted summer stock on the back of poor sales and bad weather, in a boost to households after a long period of high price rises.

The U.K. economy grew by 0.6% in the second quarter of the year, the Office for National Statistics said Thursday, continuing the country’s cautious recession rebound

Overall prices rose by 2.2% in the year to July, slightly above the Bank of England’s target of 2% where the rate had been since May.

Ed Miliband has raised potential financial support for new renewable power projects to a record £1.56bn a year in a decision that follows intense lobbying from the clean energy industry.

British business activity picked up this month after a lull in the run-up to a July 4 election, bolstered by the fastest manufacturing growth in two years and the strongest inflow of new orders since April 2023, a major survey showed on Wednesday.

The U.K. economy grew by 0.4% in May, flash figures published by the Office for National Statistics showed on Thursday, with the British pound jumping to a four-month high against the U.S. dollar after the announcement.

The U.K.’s opposition Labour Party won a huge parliamentary majority in the country’s general election, unseating the incumbent Conservatives after 14 years.

U.K. unemployment unexpectedly rose to its highest level in two and a half years, data showed Tuesday, amid a heated general election campaign in which the economy is a key battleground.

The U.K. economy has emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations

The U.K. economy grew 0.1% in February, the Office for National Statistics said Friday.

British supermarket total sales rose by 5.4% year-over-year in the four weeks to March 23 as slowing inflation encouraged shoppers to increase their purchases, industry data showed on Wednesday.

The Office for National Statistics said the largest downward contributions came from food, restaurants and cafes, while the largest upward pressure came from housing and fuel.

Britain’s economy returned to growth in January after entering a shallow recession in the second half of 2023, offering some relief to Prime Minister Rishi Sunak ahead of an election expected this year, official data showed.

U.K. retail sales rebounded by 3.4% after a grim December, according to the Office for National Statistics, the strongest monthly gain since April 2021.