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BRITAIN ECONOMY NEWS

UK business morale falls to 2024 low but pay growth strong, surveys show

December 23, 2024 6:41 am

Britain's economy contracted in September and October, the first consecutive monthly falls in output since the COVID-19 pandemic, as employers worried about the new govt's 1st budget.

UK economy suffers first back-to-back declines since 2020

December 13, 2024 8:22 pm

It was the first consecutive drop in monthly GDP - which is volatile and prone to revision - since March and April 2020, when Britain enforced its first coronavirus lockdown.

Britain election winner’s first problem: Fix a stagnant economy

June 20, 2024 1:49 am

Justifying the optimism, data released on Wednesday showed that consumer prices rose 2% in May from a year earlier, touching the Bank of England’s target for the first time since 2021.

Britain's King Charles attended a D-Day national commemoration event in Portsmouth, Britain. (Credits: Reuters)

Banknotes bearing portrait of King Charles III start to be rolled out across the UK

June 05, 2024 6:10 pm

The portrait of the king will appear on all four banknotes issued by the Bank of England — 5, 10, 20 and 50 pounds — with no other alterations to the existing designs.

Struggling economy awaits winner of British election

May 23, 2024 12:45 am

After the blow dealt by the global financial crisis of 2007-09, the world's sixth-biggest economy has been buffeted by the 2016 decision to leave the European Union, the COVID pandemic and a surge in energy and food prices in 2022.

UK economy fell into recession in second half of 2023

February 15, 2024 1:16 pm

The Office for National Statistics (ONS) said economic output fell by 0.1% in monthly terms in December after 0.2% growth in November.

The data underlined signs that Britain's economy is weakening, perhaps by more than the Bank of England had expected ahead of its September interest rate meeting.

UK economy fares worse than expected in July as strikes weigh

September 13, 2023 12:20 pm

All major sectors in the UK -- services, manufacturing and construction -- declined in July, official data showed.

UK consumer price inflation in July slows to 6.8%

August 16, 2023 11:45 am

The Bank of England said earlier this month that it expected inflation in July would fall to 6.8%.

Over the past few months, the British economy has proven slightly more resilient than anticipated in the face of rising interest rates, with a widely predicted recession avoided.

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

August 11, 2023 2:12 pm

The Office for National Statistics said the economy expanded by 0.2% in the April to June period, compared with the three-month period.

UK inflation falls to a 15-month low of 7.9% in June; may limit interest rate hikes

July 19, 2023 2:02 pm

The UK's statistics agency said the falling of fuel prices was the biggest driver behind the drop, while food price inflation also pared back, though they remained historically high.