(Reuters) – Britain will avoid a recession this year and the Bank of England will not need to inject any more stimulus, but the recovery will be weak and the government should step up its efforts to boost growth, the British Chambers of Commerce said on Monday. Britain’s largest business lobby group revised down its [...]
British consumers have cut back on the amount of food they buy, but are purchasing more clothes, according to official figures which highlight the radical change in spending in the wake of the recession. The average family is still spending less than before the recession, with each British household cutting back on £35 a week [...]
Fears are looming of a eurozone recession as its GDP fell by 0.3% over the last quarter, Italy was thrown into a recession and Germany’s economy shrunk. The fall in economic growth for the entire eurozone is its first contraction since the second quarter of 2009, raising concerns the area may fall into a mild [...]
Britain’s powerhouse services sector picked up pace in December, dampening fears that the economy is heading back to recession. The Purchasing Manager’s Index (PMI), released by Markit and Chartered Institute of Purchasing and Supply, showed activity in financial services, hotels, restaurants, hairdressers, transport and communications, grew at its fastest pace since July. The figures highlight [...]
Britain is now officially stuck on a slower recovery path than after the Great Depression of the 1930s despite better growth in the three months to September than expected. GDP rose by 0.5pc in the third quarter, beating the 0.1pc in the previous three months and the 0.3pc widely predicted, according to the Office for [...]
Manufacturers’ expectations for output fell at the fastest pace in 36 years in October, underlining fears that the UK economy is on the verge of another recession. A gloomy “industrial trends” survey from the CBI showed the eurozone crisis is weighing down on sentiment and manufacturers expect output to fall over the next three months, [...]
On the anniversary of the coalition’s spending cuts, Vince Cable has said the “brutal reality” is that the economy is worse now than it was under the last Government. The Business Secretary said he could not rule out a double-dip recession but said it was the “possibility, well indeed the certainty” the Government will turn [...]
Britain’s economy has slowed to a trickle in the second quarter and the country’s last recession was much deeper than thought, official data shows, piling pressure on the government. British gross domestic product (GDP) – the value of all services and goods produced in the economy – grew by just 0.1 per cent in the [...]
A financial trader who appeared on the BBC was not a hoaxer, the broadcaster has said after doubt was cast on his credentials. It issued a statement after Twitter users suggested that Alessio Rastani was not a trader. “We’ve carried out detailed investigations and can’t find any evidence to suggest that the interview… was a [...]
Panic is once again sweeping through stock exchanges across the world, with the FTSE 100, the Dow Jones and the Asian markets all taking a pounding. Here we look at what it all means to you, and what you can do about it. Pensions The closure of final salary pensions and the shift to ones [...]
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