british-economy | ABS-CBN News

UK's embattled govt stares at new U-turn on economy

Jitendra Joshi, Agence France-Presse
Posted at Oct 04 09:07 PM

Britain's Prime Minister Liz Truss defended her contentious plan to kick-start economic growth through tax cuts, despite expectations of a second U-turn. Read more »

BoE intervenes as IMF criticises UK budget

Agence France-Presse
Posted at Sep 28 08:48 PM

The Bank of England stepped in Wednesday to shore up market confidence after the International Monetary Fund criticised Britain's inflation-fighting budget. Read more »

UK inflation jumps to new 40-year high

Agence France-Presse
Posted at Aug 17 06:19 PM

British inflation surged to a new 40-year high in July on rising food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession. Read more »

UK economy shows signs of stabilization after new lockdown hit

William Schomberg and David Milliken, Reuters
Posted at Feb 19 09:47 PM

Britain’s economy has stabilized after a new COVID-19 lockdown last month hit retailers, and business and consumers are hopeful the country’s vaccination campaign will spur a recovery, data showed on Friday. Read more »

UK economy suffers record 9.9 pct slump in 2020

Reuters
Posted at Feb 12 04:56 PM

Britain's coronavirus-ravaged economy shrank 9.9 percent in 2020, the biggest annual fall in output since modern records began, but avoided heading back towards recession in the final quarter of the year, official figures showed on Friday. Read more »

Britain's economy to reach pre-COVID-19 levels within two years - Reuters poll

Jonathan Cable, Reuters
Posted at Feb 12 10:07 AM

Britain’s economy will narrowly dodge a double-dip recession and will have returned to pre-COVID-19 levels within two years, according to economists in a Reuters poll who said the Bank of England was unlikely to take borrowing costs negative. Read more »

UK economy loses £22 billion as virus ravages tourism: study

Agence France-Presse
Posted at Aug 26 09:52 PM

Britain's economy will lose about £22 billion ($29 billion, 24 billion euros) this year on the coronavirus-induced collapse of global travel, which could imperil three million jobs, an industry body forecast Wednesday. Read more »

Virus-hit UK economy slumps almost 20 percent in lockdown

Agence France-Presse
Posted at Jul 14 08:09 PM

Britain's coronavirus-ravaged economy slumped almost one-fifth during the country's lockdown and remained set for its sharpest decline in annual output for 300 years, official data showed Tuesday. Read more »

UK economy shrinks on coronavirus

Roland Jackson, Agence France-Presse
Posted at May 13 10:08 PM

Britain's economy shrank two percent in the first three months of the year, rocked by the fallout from the coronavirus pandemic, official data showed Wednesday, with analysts predicting even worse to come. Read more »

UK pledges $39 billion to protect economy from coronavirus

William Schomberg and David Milliken, Reuters
Posted at Mar 11 10:13 PM

Britain launched a 30 billion-pound ($39 billion) economic stimulus plan just hours after the Bank of England slashed interest rates, a double-barrelled package aimed at warding off the risk of a coronavirus recession. Read more »