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Tag: economy

What's going on with the UK economy?

What's going on with the UK economy?

Business
More than 1,000 days since the referendum, and with the clock ticking down to 29 March, the path of Brexit remains unclear. Ahead of the 2016 vote, the Treasury warned that leaving could damage the economy. And yet, for all the political turmoil and uncertainty, the economy continues to trundle along - and appears to be doing very well on some fronts. Almost 30 years ago, US economist David Shulman introduced the phrase "Goldilocks economy" to describe one that's neither blowing too hot nor cold but expanding at just the right pace, with good jobs growth. Does that apply to the UK? And were those warnings from the Treasury merely "Project Fear": fairy tales in themselves? Time to check the temperature of the UK economy.What shou...
Economy grows at fastest pace for 25 months in January

Economy grows at fastest pace for 25 months in January

Business
By James Sillars, business reporter UK economic growth surged to 0.5% in January, according to official figures which smashed economists' expectations.The Office for National Statistics (ONS) said it was the biggest increase in monthly output since December 2016 but cautioned that growth in the three months to January remained static at 0.2%. The figures showed 0.3% growth for the crucial services sector, which accounts for more than three-quarters of total UK output, following a disappointing contraction of 0.2% in December as consumers checked spending in the run-up to Christmas. ...
The week ahead: Jobs report needs to silence rising worries about the economy

The week ahead: Jobs report needs to silence rising worries about the economy

Finance
Job growth has remained vibrant despite the slow-growing economy, and that's a trend investors are anxious to see confirmed in the February employment report on Friday. Even with some economists expecting growth around 1 percent for the first quarter, the labor market has been strong, and economists expect to see 185,000 jobs added in February. The economy is widely expected to bounce back in the second quarter to a pace well above 2 percent, after the temporary headwinds from the government shutdown and polar vortex abate. The jobs data tops the list of important economic news in the week ahead, particularly after a string o...
International worries as China's consumption and economy slows

International worries as China's consumption and economy slows

Business
Picture China's economy and you might be thinking of massive factories, gigantic airports or train stations built from scratch in 24 hours. For another view, you could follow Xu Liqiang as he threads the streets of Beijing in a beaten-up tuk-tuk (motorised rickshaw).Xu is 21 years old and a "kuaidi" (express delivery) driver. Each day 100 million packages are delivered in China and they're delivered by people like him. It's part of a boom in Chinese consumption that has driven growth in global GDP over the last decade.But today, work is slow. "After Double Eleven [an online shopping festival], the packages have been getting less and less with time," he tells me.Xu lives in a dormitory provided by his employer with three other kuaidi drivers. He moved to Beijing from Shanxi ...
How worried should we be about China's economy?

How worried should we be about China's economy?

Business
The cracks in China's economy appear to be widening, with signs of weakening growth amid a background of trade tensions. Adding to the worries, China's stock market was the world's worst performer last year, ending with a loss of 28%. This week Apple said slowing sales in China meant it would not meet sales expectations, triggering sharp falls on global stock markets.The tech giant isn't alone. A string of other companies have issued warnings recently over China's slowdown and the impact of the trade war with the US.Among those are carmakers such as General Motors, Ford and Fiat Chrysler. Luxury vehicle maker Jaguar Land Rover has also warned of slowing Chinese sales. US carmakers hit by tariff disputes ...