Sir Martin Sorrell: Post-Brexit economy should be ‘Singapore on steroids’ November 12, 2019 Advertising veteran Sir Martin Sorrell has called on the government to pursue a “Singapore on steroids” strategy for the UK economy after Brexit. The former WPP boss, who now runs digital ad firm S4 Capital, said the UK should seek to establish a free-market, pro-business economy similar to that of the Asian financial hub. Read [...]
UK suffers biggest fall in jobs in four years November 12, 2019 The number of people in work in Britain fell at its fastest rate in four years between July and September, official figures have shown, in the latest sign that the UK’s booming jobs market is slowing. Read more: UK avoids recession but annual growth slowest in almost a decade The Office for National Statistics (ONS) [...]
DEBATE: Are this week’s UK growth figures anything to celebrate? November 12, 2019 Are this week’s UK growth figures anything to celebrate? Ruth Lea, economic adviser at the Arbuthnot Banking Group, says YES. The GDP data for the third quarter of 2019 was a tad weaker than expected, and much has been made of the growth rate being the weakest since the start of 2010. But the data [...]
Interest rates aren’t central banks’ only ammunition to defend against recession November 12, 2019 Monday’s GDP figures were a mixed bag: the UK has narrowly avoided slipping into recession, but with growth at its lowest rate since 2010, the country is far from being out of the woods. Nor is this just a British issue. Increasing numbers of economic commentators are sounding the alarm about a potential recession in [...]
‘Feel poor, work more’: UK employment driven by income squeeze, report says November 12, 2019 Britain’s record level of employment is the result of a post-crisis income squeeze that has driven people to work more to compensate for lower real wages, according to the Resolution Foundation think tank. Read more: UK avoids recession but annual growth slowest in a decade The UK employment rate has hovered around 76 per cent [...]
London falls out of top 10 best UK cities for living and working November 12, 2019 London is lagging behind other UK cities as a place to live and work, according to a new report, due largely to its very high cost of living. Read more: London house prices drop 1.4 per cent with market ‘in limbo’ Oxford was deemed the best place to live and work in the UK for [...]
Construction sector swings back to growth in third quarter November 11, 2019 Britain’s construction sector dodged a recession and swung back to growth in the third quarter, despite a slight dip last month. Construction output increased 0.6 per cent, or £253m in the three months to September, from months of turmoil caused in part by Brexit uncertainty. It follows a decrease of 1.2 per cent in the [...]
FTSE 100 slumps on UK credit rating downgrade as Hong Kong violence hits Asian stocks November 11, 2019 The FTSE 100 index slumped this morning after Moody’s downgraded its outlook on the UK’s credit rating, while global stocks took a hit on continued uncertainty over US and China trade talks and escalating violence in Hong Kong. The FTSE 100 fell as much as 1.19 per cent this morning to 7,271.5 points. London’s blue-chip [...]
Four charts that explain the UK economy’s latest slowdown November 11, 2019 Annual growth in the UK economy fell to its slowest pace in nine years in the third quarter, data showed today, although the country avoided slipping into a recession. Read more: UK avoids recession but annual growth hits slowest pace in a decade “This slowdown follows not only Brexit uncertainty at home, but a weaker [...]
UK avoids recession but annual growth slowest in almost a decade November 11, 2019 The UK economy avoided falling into recession in the third quarter of the year, official figures have shown today, but annual growth slipped to its slowest pace in nine years. A pick up in the giant services sector and a return to growth in construction boosted the economy, but the malaise in manufacturing continued with [...]