Economy

UK GDP shrinks 2.9% amid January lockdown

Monthly GDP fell by 2.9% in January as a national lockdown proved to impact economic activity, new data from the…

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Budget 2021: Chancellor unveils new £65bn support package

Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the…

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UK suffers record 9.9% GDP slump

GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after the…

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UK GDP shrinks by 2.6%

GDP declined by 2.6% in November 2020 as government restrictions reduced economic activity, the latest ONS figures reveal. Figures released by the…

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UK retail sales grow for fifth consecutive month

Retail sales in the UK have risen for the fifth consecutive month, despite the introduction of the tiered lockdown system,…

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UK inflation slumps to five-year low

The Consumer Prices Index (CPI) 12-month rate fell to 0.2% in August 2020, down from 1.0% in July, according to…

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Government launches new ‘bounce back’ plan for retailers

A new series of measures has been announced by the UK Government to support businesses in the consumer and retail…

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UK retail sales increase by 4.7% in August

UK retail sales in August have increased by 4.7% on a like-for-like basis from August 2019, according to figures released…

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GDP to contract £15.3bn each year if home working persists

Lower consumer spending and a decrease in economic clustering if pandemic levels of home working persist would reduce UK GDP…

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Record economic growth anticipated for Q3

The UK is reportedly on track for a record economic resurgence during the third quarter of the year, following sharp…

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