Bank of England policymaker, Kate Barker, said the UK is unlikely to return to recession.
In an interview over the weekend, Ms Barker, who is a former housing adviser to the Government, said it is possible, however, that the economy could contract for one quarter.
“It’s possible we will have a quarter when GDP falls, but [...]
British consumers should expect to face more financial difficulty this year than during 2009, a financial expert has claimed.
Richard Perks, director of retail research at Mintel, said it is “obvious” that living costs are going to rise while income is squeezed.
The tough times are “really still to come,” Perks said.
“That doesn’t necessarily mean we are [...]
According to leading economic think tank, the National Institute of Economic and Social Research (NIESR), the UK economy grew by 0.3% in the December to February period and has expanded by 0.7% since last September’s slump.
The NIESR’s latest predictions come just a few weeks after the Office for National Statistics (ONS) revealed the UK economy [...]
Recent increases in the purchasing managers index (PMI) should not be taken as an indication that Britain is entering a strong recovery, one expert has claimed.
Vicky Redwood, economist at Capital Economics, said economic recovery will be “sluggish” over the next two years.
She made the remarks despite conceding that PMI data released this week was “pretty [...]
Leading business group, the British Chamber of Commerce (BCC), has warned that the UK economy faces a “high risk of a relapse“.
The UK economy emerged from recession in the fourth quarter of 2009 by experiencing growth of just 0.3%.
However, all economists and reports have suggested that the recovery will be fragile, while others have expressed [...]
Official figures have revealed Australia’s economy grew 0.9% in the October to December period, while on an annual basis the economy expanded 2.7%.
In comparison, the UK, Germany and Japan all contracted by around 5% in 2009, while the US shrank by 2.4%.
Australia’s Federal Treasurer Wayne Swan described the country’s growth as “the [...]