Britain suffered a record collapse in economic output in the second quarter of 2020 when COVID-19 lockdown measures were in force and people had few opportunities to spend,
The Office for National Statistics said Tuesday that the economy grew by 1.8% in May from the previous month. Despite this increase, it is 24.5% smaller than it was in February.
LONDON: Britain’s former telecoms monopoly BT will consolidate its UK offices from 300 locations to roughly 30 sites while pressing ahead with plans to leave its St Paul’s headquarters in London, the company said on Wednesday. New BT chief Philip Jansen inherited a major restructuring begun by predecessor Gavin Patterson
British economic growth almost ground to a halt last month, as modest expansion among services firms barely offset weakness in manufacturing and construction caused by the Brexit crisis and weaker global growth, a business survey showed on Wednesday. The IHS Markit/CIPS services Purchasing Managers’ Index
British inflation slowed more than expected in November but remained near the highest level in more than 40 years, official data showed on Wednesday, as a cost-of-living crisis sparks fresh UK strikes. The consumer prices index eased to 10.7 percent last month, the Office for National Statistics (ONS) said in a statement, against
British public borrowing unexpectedly jumped last month to hit its highest for any November on record, reflecting the mounting cost of energy subsidies, debt interest and the reversal of an increase in payroll taxes, official figures showed on Wednesday. Borrowing rose to 22.0 billion pounds ($26.7 billion) from 8.1 billion pounds a
Bank of England (BoE) Governor Andrew Bailey said on Wednesday a risk “very clearly” existed that inflation, which is running at a 30-year high, gets embedded in Britain’s economy if a cycle of higher prices keeps pushing up wages.
Britain’s treasury chief on Wednesday announced an additional 65 billion pounds ($91 billion) of support for an economy ravaged by the coronavirus pandemic, extending job support programs and temporary tax cuts to help workers and businesses in his
British inflation edged up in January as locked-down consumers paid more for food and sellers of furniture and other household goods offered smaller-than-usual New Year discounts to people seeking to spruce up their homes.
Global stock markets sank on Monday as soaring COVID-19 cases offset investor hopes of a quick economic recovery, even after data showing that the Chinese economy rebounded faster-than-expected in the fourth quarter of 2020.