Tracking the UK’s economic recovery through the lens of six indicators
On September 17, 2020 by Thomas BelaynehThe UK economy suffered one of its worst economic declines on record in the second quarter, as the government announced a countrywide lockdown on 23rd March 2020 that shuttered businesses and schools across the country. A few days before lockdown began, the Bank of England convened an emergency meeting where the committee unanimously voted to
UK GDP grew just 1.8% in May as services remained weak
On July 14, 2020 by Thomas BelaynehGrowing just 1.8% on April, below consensus expectations for 5%, meant GDP in the three months to May remained a seismic 19.1% below the same three-month period last year. Services grew a meagre 0.9%, while industrial and construction output increased 6% and 8.2%, respectively. Services As lockdown restrictions were still largely in force throughout May,
UK GDP falls as data shows household consumption weakest since 1979
On June 30, 2020 by Thomas BelaynehThe Office for National Statistics (ONS) released Q1 GDP figures for the UK this morning showing a 2.2% decline on the prior quarter and 1.7% on the prior year, as coronavirus began to wreak havoc on the economy. The UK’s current account balance missed consensus expectations for -£15bn instead coming in at -£21.1bn. The decline
UK stocks down as OECD predicts its growth to be worst of G7
On June 11, 2020 by Thomas BelaynehThe FTSE 100 fell 0.1% to 6,329.13 as market participants held off on adding risk ahead of the Federal Reserve’s statement. The OECD also released its growth forecasts today predicting the UK would have the toughest road ahead as compared to its G7 peers. If the good news regarding declining Covid-19 infection rates in the