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23/10/2009
Recession Continues
The UK is still officially in recession, according to figures released today.
Despite predictions this morning that a period of growth had been recorded, Gross Domestic Product (GDP) actually pointed to a 0.4% contraction between July and September.
This was the sixth consecutive quarter that growth fell, making the downturn the worst in over 50 years.
Today's figure is only an estimate and could eventually prove to be more significant or favourable.
GDP measure a country's output, with regards to production and the turnover of service industries.
A 0.2% growth was predicted, despite a sustained fall factory productivity and a stagnant retail market.
Since this time last year the economy has shrank by 5.2%, however this has recovered from 5.5% in the last quarter.
It is believed the disappointing GDP estimates could prompt the Bank of England to maintain its quantitative easing attempts.
Bronwyn Curtis from HSBC told the BBC the results were "worse-than-expected".
British Chambers of Commerce chief economist David Kernat said more state help was needed to help business access investment and finance.
"Above all else, business confidence must be nurtured, to ensure that recovery is not further delayed," he said.
(PR/BMcC)
Despite predictions this morning that a period of growth had been recorded, Gross Domestic Product (GDP) actually pointed to a 0.4% contraction between July and September.
This was the sixth consecutive quarter that growth fell, making the downturn the worst in over 50 years.
Today's figure is only an estimate and could eventually prove to be more significant or favourable.
GDP measure a country's output, with regards to production and the turnover of service industries.
A 0.2% growth was predicted, despite a sustained fall factory productivity and a stagnant retail market.
Since this time last year the economy has shrank by 5.2%, however this has recovered from 5.5% in the last quarter.
It is believed the disappointing GDP estimates could prompt the Bank of England to maintain its quantitative easing attempts.
Bronwyn Curtis from HSBC told the BBC the results were "worse-than-expected".
British Chambers of Commerce chief economist David Kernat said more state help was needed to help business access investment and finance.
"Above all else, business confidence must be nurtured, to ensure that recovery is not further delayed," he said.
(PR/BMcC)
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23 September 2011
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The Irish economy has grown by 1.6% in the second quarter of the year as measured by gross domestic product (GDP). Figures published by the Quarterly National Accounts this morning indicate a stabilisation of domestic demand as well as continuing export growth in the period April to June. Consumer spending has also increased to 0.
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The Irish economy has grown by 1.6% in the second quarter of the year as measured by gross domestic product (GDP). Figures published by the Quarterly National Accounts this morning indicate a stabilisation of domestic demand as well as continuing export growth in the period April to June. Consumer spending has also increased to 0.
27 April 2011
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Gross Domestic Product, (GDP) only grew modestly at the start of the year - but making it likely that the Bank of England will keep interest rates at record lows for some months. The faltering construction industry - across all of the UK - is hindering economy recovery with GDP expanded by only 0.
Economic Recovery 'Slow'
Gross Domestic Product, (GDP) only grew modestly at the start of the year - but making it likely that the Bank of England will keep interest rates at record lows for some months. The faltering construction industry - across all of the UK - is hindering economy recovery with GDP expanded by only 0.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
02 January 2002
UK economic growth expected to slow in 2002
The UK’s economic growth is expected to slow to about 1.5 per cent during 2002. The latest figures from research group Cambridge Econometrics has predicted a further decline in manufacturing, led by a sharp fall in output in ICT industries.
UK economic growth expected to slow in 2002
The UK’s economic growth is expected to slow to about 1.5 per cent during 2002. The latest figures from research group Cambridge Econometrics has predicted a further decline in manufacturing, led by a sharp fall in output in ICT industries.
25 February 2016
Lead2Grow Programme Launched By First Minister
A new programme that will prioritise the development of micro firms in Northern Ireland has been launched by the First Minister, Arlene Foster. The leadership skills programme, 'Lead2Grow', is funded by the UK Commission for Employment and Skills (UKCES).
Lead2Grow Programme Launched By First Minister
A new programme that will prioritise the development of micro firms in Northern Ireland has been launched by the First Minister, Arlene Foster. The leadership skills programme, 'Lead2Grow', is funded by the UK Commission for Employment and Skills (UKCES).
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
