Prime Minister Boris Johnson vowed that the U.K. will spend large sums on hospitals, schools, and roads to jump-start the economy as it emerges from the corona virus lock-down that has plunged the country into what may be the worst recession in three centuries. In an interview, Johnson rejected a return to the austerity policies [...]
UK June PMI data indicated a vastly improved overall picture across the UK private sector, with the downturn in total business activity continuing to steady after the record rate of decline seen at the height of the lockdown during April. Another drop-in service sector activity contrasted with a return to production growth among manufacturing companies [...]
The UK’s official jobless rate remained the same as that of last month - 3.9% in April, while the claimant count change showed a dramatically higher than expected increase last month. The unemployment rate remained at 3.9% which is better than 4.5% forecast. The Claimant Count Change came in at 528.9K as against 370K expected [...]
Fall of April month GDP is the biggest UK saw ever. It is more than 3 times larger than last month and almost ten times larger than the pre-COVID-19 fall. The economy fell around 25% in April compared to February. Virtually all areas of the economy were hit drastically. GDP fell by 20.4%. The services [...]
