archiveUK industrial output

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 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'...