UK economy escapes recession with fastest growth since 2021, sending FTSE 100 to new high – business live
Short recession is over, as UK economy grows faster than forecast in January-March quarter, by 0.6%, fastest quarterly growth in over two yearsFull story: UK has moved out of recession, official figures showLabour’s shadow chancellor, Rachel Reeves, has posted that it’s ‘time for change’.Following this morning’s GDP report, Reeves says:From no growth to low growth - is that really the scale of the Conservatives’ ambitions?Food prices are still high, families are paying more on their monthly mortgage bills and working people are worse off.Construction remains the one area of weakness, particularly in the commercial sector. That’s no surprise.Real estate is particularly exposed to the effect of higher interest rates, and the upheaval of the pandemic is still rocking the office and retail sector - with increased home working and online shopping permanently changing demand. That’s not a trend that’s unique to the UK. Continue reading...
Short recession is over, as UK economy grows faster than forecast in January-March quarter, by 0.6%, fastest quarterly growth in over two years
Labour’s shadow chancellor, Rachel Reeves, has posted that it’s ‘time for change’.
Following this morning’s GDP report, Reeves says:
From no growth to low growth - is that really the scale of the Conservatives’ ambitions?
Food prices are still high, families are paying more on their monthly mortgage bills and working people are worse off.
Construction remains the one area of weakness, particularly in the commercial sector. That’s no surprise.
Real estate is particularly exposed to the effect of higher interest rates, and the upheaval of the pandemic is still rocking the office and retail sector - with increased home working and online shopping permanently changing demand. That’s not a trend that’s unique to the UK. Continue reading...
