Britain's economy is set to avoid tipping into recession, despite a small fall in output in August. More here:
LONDON - Britain’s sluggish economy looks to have dodged recession in the run-up to its deadline for leaving the European Union this month, official data showed on Thursday.
Output in August alone dropped by 0.1% on the month versus economists’ average forecast for it to hold steady, while growth in July was revised up to 0.4%, the Office for National Statistics said.“The economy has regained some momentum but the underlying trend is towards softer growth. The headwinds from a major global slowdown and uncertainty at home point to weaker growth ahead,” said Ian Stewart, chief economist at accountants Deloitte.
Two consecutive quarters of contraction would mean Britain’s economy met a commonly used definition of recession, but the ONS said the economy would need to shrink by an almost unprecedented 1.5% in September alone for this to happen. The Bank of England predicted last month that Britain’s economy would manage growth of 0.2% in the third quarter, bolstered in part by higher public spending.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
UK economy on track to dodge pre-Brexit recession but outlook weakBritain's sluggish economy looks to have dodged recession in the run-up to ...
Weiterlesen »
Uncertainty about Brexit is hampering business investment in BritainWhile the Brexit referendum did not bring the economic crash many feared it would, business investment has been hit hard
Weiterlesen »
Volkswagen increases stockpiles of cars in Britain ahead of BrexitVolkswagen has increased stockpiles of cars in Britain, it said on Wednesday, as...
Weiterlesen »
Brexit Britain gripped by public feud of soccer stars' wivesColeen Rooney, wife of soccer star Wayne Rooney, says she suspected someone was leaking stories to the tabloid press. By making her Instagram Stories private, down to only 1 person, she's made an accusation of a mole: The wife of another soccer star.
Weiterlesen »
EU tells Britain: Make more concessions if you want a Brexit dealThe European Union told British Prime Minister Boris Johnson he must make signif...
Weiterlesen »