Economy set to shrink ahead of Budget in ‘difficult’ outlook Economics The UK economy is expected to have shrunk in August, despite hopes that the stronger-than-expected growth seen in June and July would continue. The latest gross domestic product (GDP) data, which will be released on Thursday, is expected to show a contraction of 0.1 per cent in August, according to City economists polled by Bloomberg. [...]
As it happened: FTSE 100 rises as easing Iran tensions offset GDP blow; SpaceX set for blast off Markets Welcome back to the City AM liveblog. Global equity investors are bracing for Musk’s record-breaking market debut SpaceX is set to begin trading on Nasdaq today after Elon Musk’s rocket, satellite and AI empire pulled off the largest IPO in market history. The company raised $75bn after pricing shares at $135, giving it a $1.77 [...]
UK economy on ‘recession watch’ after unexpected contraction Economics The UK economy shrank unexpectedly in October after a fall in production output and stagnation in the services sector ahead of the Budget. GDP fell 0.1 per cent during the month, data from the Office for National Statistics (ONS) showed. Economists had expected a return to modest growth of 0.1 per cent. It marks two [...]