Friday, January 15News For London

Tag: GDP

UK economy “steadily grew” or “in a recession”?

UK economy “steadily grew” or “in a recession”?

Breaking News, economy
According to the Office for National Statistics, Britain’s annual economy rate in the third quarter has slowed to 1%. It’s the slowest speed in the recent decade, a ONE spokesman said to BBC. The GDP failed to achieve economists’ estimations. The Bank of England expected that the economy in the third quarter would grow by 0.4%. Although the economy avoided a recession, the second quarter’s figure decreased to 1.3%. Some statisticians said economic growth in the third quarter was due to the good economic growth in July. The dominant services sector increased in the second quarter, but the manufacturing industry did not grow, said Suren Thiru, head of economics at the British Chambers of Commerce (BCC). Faisal Islam, an economics editor, thought the “pretty soft” economy in the

CBI and PwC release Brexit report, divide opinion

Business, DontUse, EU referendum, Opinion, Politics
The In camp for the EU referendum have seized upon a new report by CBI and PwC, but pro-Brexiters have responded to it in a different light. Produced as a joint-effort by the two firms, the report hints that as many as 950,000 potential future jobs might be lost by 2020, as a consequence of a Brexit. The report also claims a Brexit could serve as a blow to economic growth over the next four years, with as much as £100bn worth of potential output being lost by 2020. The forecasts indicate growth will pick up in the ensuing years, but the report's findings are significant, as they serve as an admission that a Brexit might depress the economy somewhat. Speaking to Westminster World, David Blanchflower, an ex-member of