archiveUK economic growth

The UK economy stagnated in April as services growth was offset by falls in production and construction output, which was largely caused by an unusually wet weather, and dealt a setback to Prime Minister Rishi Sunak ahead of the July 4 general election.Gross domestic product remained flat on month, as expected, after expanding 0.4 percent in March, the Office for National Statistics said Wednesday. On the production-side, services output grew 0.2 percent, marking the fourth consecutive expansion. On the other hand, industrial output fell by more-than-expected 0.9 percent on month,...

The UK economy expanded for the second straight month in February suggesting that it is set to move out of a technical recession, thanks to the rebound in manufacturing output.Real gross domestic product edged up 0.1 percent on a monthly basis in February, the Office for National Statistics said Friday. The growth for January was revised higher to 0.3 percent from 0.2 percent. Industrial production was the largest contributor to the growth in February, which climbed 1.1 percent, reversing a revised 0.3 percent fall. Within overall output, manufacturing rebounded 1.2...

The UK economy unexpectedly contracted in October as higher interest rates took its toll on activity, adding to expectations that the Bank of England is close to interest rate cuts. Gross domestic product shrank 0.3 percent in October, partially offsetting growth of 0.2 percent in September, the Office for National Statistics reported Wednesday. The fall was the first in three months and confounded expectations for flat growth.Data suggests that the economy may go nowhere again in the fourth quarter or perhaps is in the mildest of mild recessions, Capital Economics'...