The UK economy has grown slightly for the second month in a row, official figures show. Gross domestic product (GDP) grew just 0.1% in February, the Office for National Statistics (ONS) said. It’s another signal that the UK Economy is working its way out of recession. Growth of 0.3% was recorded last month – and that […]

The Bank of England has held interest rates at 5.25% for a fifth consecutive time, but says the prospects for a cut are now “moving in the right direction”. The nine-member rate-setting committee continued to collectively judge it was too early to contemplate a downwards move, despite further progress in taming inflation revealed earlier this […]

Growth returned in the UK economy in January, according to official figures. The measure of everything produced in the UK – a metric called gross domestic product (GDP) – rose 0.2%, the Office for National Statistics (ONS) said. It’s the first official economic growth announcement since a recession was declared last month as there were […]

The UK rate of inflation has remained at 4% – despite forecasters predicting a rise, official figures show. The consumer price index (CPI) measure of inflation stood at 4% in January, the Office for National Statistics (ONS) said. It’s the same as in December and below economists’ expectations, including the Bank of England. The central […]

Google has started construction on a new $1bn (£789m) data centre in the UK, it has been revealed. The announcement was made at the World Economic Forum in Davos, where Chancellor Jeremy Hunt has been meeting company bosses as part of a bid to “champion British excellence in tech”. The new facility is to be […]

The UK economy has performed worse than previously thought and below the expectations of economists, new official figures show, meaning the country has taken the first step towards recession. There’s been a downward revision to GDP, a key measure of economic growth, the Office for National Statistics (ONS) said on Friday morning. Rather than remaining […]

The UK economy has flatlined but has avoided a recession this year as the chancellor warned high inflation remained the main obstacle to growth. Fresh data from the Office for National Statistics shows that gross domestic product (GDP) – which measures the value of goods and services produced – rose by 0.2% over the month, […]

The case for an end to the Federal Reserve’s interest rate hikes continues to build for investors. On Friday, the October jobs report showed 150,000 jobs were added to the US economy while the unemployment rate hit its highest level since January 2022. The labor market slowdown is a welcome sign for the Federal Reserve, […]

The Bank of England signals that cuts to borrowing costs are a long way off despite a gloomy forecast that will see the economy fail to grow for more than a year. The British economy is going to be flatlining for the foreseeable future, with next to no economic growth all the way through til […]

China has unveiled plans to restrict exports of graphite — a mineral crucial to the manufacture of batteries for electric vehicles (EVs) — on national security grounds, the Ministry of Commerce and the General Administration of Customs said Friday. The announcement comes just days after the United States imposed additional limitson the kinds of semiconductors […]