LONDON — Britain’s manufacturing output slumped by 1.5 percent in January compared with December, official data showed on Tuesday, dealing a fresh blow to the country’s hopes of avoiding a fresh recession.
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(Reuters) – British retail sales unexpectedly fell in January hurt by heavy snow, reviving worries that the economy may be slipping into a third recession since the onset of the financial crisis.
Sales volumes slipped 0.6 percent in both monthly and annual terms, the Office for National Statistics...
The latest business confidence index from ICAEW/Grant Thornton suggests that the UK will avoid a triple-dip recession.
The survey reveals that the business confidence index has risen from +4.2 in the final quarter of 2012, to +12.8 in the first quarter of 2013.
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The burden of household debt increased during the recession, and is probably continuing to rise, Government figures show.
Despite a widespread belief that households are paying down their debts due to concerns about their financial future, the average household owed £3,200 on credit cards, overdrafts...
Manufacturing slumped in October exacerbating fears that Britain is on the verge of a “triple-dip” recession.
Output fell by 1.3% on the previous month, the fastest pace of decline since June when production was disrupted by extra public holidays.
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The UK service sector grew at its slowest pace in almost two years in November, a survey has indicated.
The Markit/CIPS Services Purchasing Managers’ Index (PMI) fell to 50.2 last month from October’s 50.6.
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The UK economy has avoided recession but more measures to boost growth are needed, a leading businesses lobby group has warned.
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High street retailers reported a greater-than-expected slowdown in sales growth this month, the CBI said today, amid poor weather and weak consumer confidence.
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Britain has slumped into a deeper double-dip recession than originally feared, according to revised figures.
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There was a surprise fall in UK manufacturing output in April, official data has shown, raising fresh fears about the wider economy.
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