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be bigger than the european union. europe is aware of this. while they will have difficulties over trade they also rely china is it going to become the big market for them also, so that s also part of the european calculations. do you seeing that the balance of power shifting, then, and they have to adjust accordingly? i think the europeans are acutely aware of the change in the balance of power. and remember, for europe today, one nightmare that they really worry about is the reelection of donald trump coming in for a second time as president of the united states, and they know that donald trump has absolutely no emotional connection to europe. he does not quite see the value of his european allies, and europe may have to get a much more difficult geopolitical environment. in that difficult geopolitical environment, when europe is looking for ways and means to possibly restrain russia at that point in time, maybe they can talk with china. and as you know china played a ....
and we ll be looking ahead to the eurovision song contest with a special report from the host city malmo. live from london this is business today i m lukwesa burak. later this morning the uk s first quarter growth figures will be published. the uk economy grew slightly in february increasing hopes it is on its way out of recession, just. the economy grew by 0.1% boosted by production and manufacturing in areas such as the car industry. on thursday, the bank of england boss said the monetary policy committee needs to see more evidence that price rises have slowed before cutting interest rates. governor andrew bailey said, he was optimistic that things are moving in the right direction as rates were held at 5.25%. i think it is. i am encouraged by all of this. very encouraged that again we have to achieve an inflation target that is sustainable. that is ourjob and what we do. the news is encouraging. and what we do. the news is encouraging- and what we do. the ....
the news comes after the boss of the bank of england, andrew bailey, said the economy had turned a corner, but wasn t yet in a strong recovery. for more on this i m joined now byjackie bowie, head of europe at chatham financial. where is this growth coming from? the good news is the surprise upside in gdp was actually very broad based. if you look across the different components of gdp we saw a good recovery in the service sector activity. actually good recovery in consumer spending as well because obviously that s been a big focus with the cost of living issue and of course then with inflation that we have seen over the last year as well. so i pretty broad based recovery and again it took some economists by surprise this morning. are you breaking out the champagne now, are the recession time is completely behind us? it certainly looks like we completely behind us? it certainly looks like we have completely behind us? it certainly looks like we have exited - compl ....
become the big market for them also, so that s also part of the european calculations. d0 the european calculations. do ou the european calculations. do you seeing that the balance of power shifting, then, and they have to adjust accordingly? i think the europeans are acutely aware of the change in the balance of power. and remember, for europe today, one nightmare that they really worry about is the reelection of donald trump coming in for the reelection of donald trump coming infora the reelection of donald trump coming in for a second time as president of the united states, and they know that donald trump has absolutely no emotional connection to europe. he does not quite see the value of his european allies, and europe may have to get a much more difficult geopolitical environment. in that difficult geopolitical environment, when europe is looking for ways and means to possibly restrain russia at that point in time, maybe they can talk with china. and as you know ch ....
everyone, he doesn t have to focus on recent hess in the congress, which not everyone is worried about day to day, but connecting, as you say, with the support that s out there. yeah. and it will force us out of this box too of measuring whether he is successful in getting bipartisan policies through by looking to where the support is coming from. and if you have support from republican governors and you have support from republican mayors and you have support, i think more than 50% of republicans in the country support this package, then it s impossible to deny him the accomplishment of governing in a bipartisan way. yeah, all great points. i was curious what s on your mind going into this. nice to see you, my friend. thank you. thank you. i want to welcome everyone to the beat. i am ari melber. we have a special show planned for you tonight. a live interview right here on the beat with white house secretary jen psaki. that s coming up tonight. meanwhil ....