UK economy grows 0.6 per cent in second quarter, in line with expectations August 15, 2024 The UK economy grew in line with expectations in the second quarter of 2024, as it continued to bounce back from a shallow recession.
GDP and population Olympic Games: How do medals stack up at Paris 2024? August 12, 2024 The national peacocking that goes in tandem with the Olympic Games is nothing new, countries love being at the top of the medal table. But at what cost? A country’s GDP versus their medal haul is a great way of looking at what the the GDP per gold medal. Here are the key takeaways: Olympic [...]
UK economy’s recovery from pandemic stronger than first thought August 7, 2024 The UK economy recovered from the pandemic faster than had previously been thought, new revisions from the Office for National Statistics (ONS) show. In the latest set of Blue Book revisions, the ONS upgraded their estimate for GDP growth in 2022 from 4.3 per cent to 4.8 per cent. This upgrade was a “little larger” [...]
Rachel Reeves’s investment cuts ‘concerning’ and send a ‘worrying signal’ says think tank August 7, 2024 In its latest set of forecasts, the National Institute for Economic and Social Research (NIESR) warned that the new government would fall well short of its growth target unless it lifted public investment.
Solid services sector ‘bodes well’ for UK economy despite stubborn price pressures August 5, 2024 Business activity in the services sector picked up in July, according to a closely watched business survey, suggesting that the economy will continue to grow in the months ahead. S&P’s purchasing managers’ index (PMI) for the services sector picked up to 52.5 last month, rising from 52.1 in June and marginally ahead of the 52.4 [...]
Eurozone grows faster than expected but Germany faces recession threat again July 30, 2024 The eurozone grew slightly faster than expected in the second quarter, but Germany slumped back into contraction as Europe’s largest economy faced the threat of recession again. Figures released today by Eurostat showed that the eurozone grew 0.3 per cent in the second quarter, matching the pace of growth in the first quarter and slightly [...]
US GDP sails past expectations again on back of strong consumer spending July 25, 2024 The world’s largest economy breezed past economists’ expectations yet again as consumer spending picked up more than anticipated. According to new ‘flash’ figures published on Thursday, US GDP grew at an annualised rate of 2.8 per cent between April and June. Economists had expected GDP to grow 2.0 per cent. This was a substantial acceleration [...]
UK growth set to continue as manufacturing PMI climbs to two year high July 24, 2024 The economy’s strong performance so far in 2024 looks set to continue thanks to the continued recovery of the manufacturing sector, a closely watched survey suggests. S&P’s ‘flash’ purchasing managers’s index (PMI) came in at 52.7, up from 52.3 last month and slightly higher than the 52.6 expected by economists. The survey, which measures economic [...]
Six graphs the Bank of England will study before August interest rate decision July 24, 2024 For the first time since last September, there is genuine uncertainty about the Bank of England’s next move on interest rates. The Monetary Policy Committee (MPC) will meet next Thursday, with markets putting the odds of a cut at about 40 per cent. There’s enough evidence of disinflation to warrant a cut. Similarly, more hawkish [...]
Bullish analysts think sterling’s rally will continue despite chance of interest rate cuts July 23, 2024 Sterling has been one of the strongest performing currencies this year on the back of sticky inflation and stronger than expected growth.