Economic growth (GDP)

Hammond’s Brexit ‘dividend’ claim rejected as UK economy stalls | Politics – Business Article

Philip Hammond’s claim that Britain can reap an economic dividend from Theresa May’s Brexit deal has been flatly rejected by MPs, as official figures confirmed the UK has suffered its worst year for GDP growth since 2012. In a highly critical report, the Treasury select committee warned that the chancellor’s claims of a “deal dividend” if Britain avoided a no-deal exit lacked credibility. The criticism came after data on Monday showed the economy grew by just 0.2% in the final…

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UK GDP growth report to show economy slowing ahead of Brexit – business live | Business – Business Article

4.30am EST 04:30 UK GDP report released Newsflash: The UK economy suffered a sharp slowdown in the last quarter of 2018, only expanding by 0.2%. That’s down from 0.6% in the third quarter. More to follow… 4.25am EST 04:25 There’s just time for a reminder of GDP’s weaknesses, with this brilliant speech by Robert Kennedy more than 50 years ago: 4.16am EST 04:16 Household incomes takes £1,500 hit since EU referendum Resolution, the thinktank, has a grim statistic — UK…

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A hundred years of impatience haven’t solved economy’s structural problems | Larry Elliott | Business – Business Article

This year marks a centenary of sorts. Back in 1919, with the first world war finally over, Britain woke up to a new reality. The days of being the world’s pre-eminent economic power were in the past. In truth, the writing had been on the wall before 1914. The US and Germany had caught up with Britain before the assassination at Sarajevo and were forging ahead in the new sectors that had sprung up around the turn of the 20th…

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UK services sector flatlines as Brexit fears slow economy | Business – Business Article

Britain’s pivotal services sector has posted its weakest performance since the immediate aftermath of the EU referendum amid growing signs that Brexit uncertainty has slowed the economy to stall speed. The latest health check of a sector that accounts for almost 80% of UK output showed services companies starting to reduce staff numbers in response to a decline in new business. After downbeat news from the manufacturing sectors, the closely watched survey of services from the Chartered Institute of Procurement…

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UK economy slumps into stagnation as Brexit uncertainty hits demand – business live | Business – Business Article

“Service sector growth ground almost to a halt in January, matching similar disappointing news in the manufacturing and construction sectors. The last three months have seen the economy slip into its weakest growth spell for six years, and indicate that GDP likely stagnated at the start of 2019 after eking out modest growth of just 0.1% in the fourth quarter. “With the exception of July 2016, when demand contracted briefly following the surprise Brexit vote, service providers suffered the largest…

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