Economics

A contraction in GDP for the final quarter of 2023 means the UK economy is in technical recession.

Businesses need price stability, so today’s news that inflation remained unchanged in January is welcome.

Today's decision to hold the interest rate at 5.25%, the same level since August last year, will give some respite for businesses.

We welcome today’s announcement from the Shadow Chancellor that she will publish a tax roadmap for business, if Labour wins power

Consumer price inflation remains stubborn with a slightly higher than expected growth rate of 4% in December 2023, and no change in core inflation at 5.1%.

Today’s ONS data, showing GDP grew 0.3% in November, but fell 0.2% in the three months to then, indicates how fragile UK economic growth is right now.

Today's data showing the CPI rate grew at 3.9% in November, a greater slowdown than expected, is welcome news.

While a cut in the interest rate could have provided some relief for firms ahead of Christmas, today's decision to hold at 5.25% was expected and allays fears of further rises

Today's data from the ONS confirms the low-to-no growth cycle the UK economy is in.