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The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2578, down 0.17%. UK retail sales rebound with 3.4% gain UK ....
Britain s economy fell into a recession in the second half of 2023, with GDP contracting by a worse-than-expected 0.3% in the three months to December. The fall was the largest since the first quarter of 2021. The Bank of England expects the economy to pick up slightly in 2024, reports say ....
The Office for National Statistics estimated that economic activity, as measured by gross domestic product, declined by 0.3% in the fourth quarter of the year from the previous three-month period, with all three main sectors services, industrial production and construction down. ....
Amidst challenges faced by Prime Minister Rishi Sunak, Britain experienced an economic downturn in the latter half of 2023, coinciding with upcoming elections expected in the latter part of this year. This recession aligns Britain with Japan within the Group of Seven advanced economies, although it is projected to be brief and relatively mild compared to historical standards. ....