Recession over for UK

It was announced last week that the UK has finally come out of recession. All of the other major economies had already come out of recession, with the UK left lagging behind but following the release of recent figures the UK has now joined the other countries that have at last shaken off the recession and can now start looking forward. Figures showed that in the final three months of 2009 the UK economy grew by 0.1 percent. Read more

Tags: economics, Late 2000s recession in Europe, Economy of the United Kingdom, United Kingdom, recessions

0.3 percent increase in retail sales for December

Figures have recently been released showing that in the month of December there was an increase of 0.3 percent in retail sales. Official figures proved disappointing when they showed that between November and December of last year retail sales grew by just 0.3 percent despite increased spending in the run up to Christmas. Read more

Tags: last year retail sales, Christmas and holiday season, Value added tax, Tax reform, Office for National Statistics, Late 2000s recession in Europe, retail sales levels

Darling admits that he was too optimistic about the recession

Earlier this month the Chancellor of the Exchequer, Alistair Darling, boldly admitted that his initial predictions about the ongoing recession that has gripped the UK were too optimistic. Darling said that he had underestimated the recession, which he had originally predicted would be over by the middle of this year. In an interview with a leading national newspaper, the chancellor simply said ‘It’s worse than we thought’. Read more

Tags: recent g20 summit, contraction, Late 2000s recession in Europe, chancellor, recent budget, optimistic story, recession, Late-2000s recession

How bleak is the future for the UK?

Many people were horrified to learn recently that whilst many major economies are going through a severe downturn and recession, the UK is expected to be the hardest hit of the major economies, which is of course bad news for UK consumers and businesses. Read more

Tags: confidence levels, British Chambers of Commerce, economic future, uk consumers, twenty years, uk jobs, number, Late 2000s recession in Europe

Base rate at lowest in over three centuries

Following the most recent cut to the UK base interest rate the base rate has now dropped to its lowest level in over three centuries. Read more

Tags: rate movement, economy, meeting, interest rates, Central bank, base rate

Employers say economy at risk of recession

Employers from small and medium sized businesses in the UK have said that the economy is at serious risk of recession. The warning came after a small business survey was carried out earlier this month, with businesses warning that the economy could slide into recession within a matter of months. The survey showed that orders and sales for small and medium sized businesses in the manufacturing and services sector had been drying up over the past three months. Read more

Tags: economy, day, interest, recession, bank, Late 2000s recession in Europe, recessions