UK retail sales plummeted by 3.2% in December, raising fears of a recession, according to official data. The slump, the largest in three years, was largely driven by poor performance in food stores and consumer concerns over the cost-of-living crisis and rising interest rates. The decline in sales volumes could have political implications as the UK enters an election year. Measures such as fiscal stimulus and policies to boost consumer confidence may be necessary to mitigate recession risks.
UK consumer inflation exceeds expectations, rising to 4.0% in December, driven by a hike in tobacco duty. Economists predict inflation will decline in the coming months, potentially leading to an interest rate cut.
Surprising growth in the British economy defies expectations, fueled by a rebound in the leisure sector and record-breaking heatwave in June. Concerns remain for businesses as wet weather in July may reverse their fortunes. Rising interest rates and inflationary pressures pose challenges.
UK Economy Sees Surprising Q2 Growth with Car Manufacturing Recovery - Positive signs for UK's economic recovery and resilience as car manufacturing sector plays crucial role in boosting GDP. Future progress hinges on managing uncertainties and supporting affected sectors.
UK government's debt surpasses economic output after 60 years - implications for future prosperity and economic recovery analyzed. #UKdebt #economicoutput