Wednesday, October 20News That Matters
Shadow

Tag: weakest

UK ducks recession with weakest annual growth since 2010

UK ducks recession with weakest annual growth since 2010

Business
The UK has dodged a recession despite seeing the biggest year-on-year slowdown in nearly a decade.The Office for National Statistics (ONS) said the 0.3% growth for the latest quarter signalled the economy "slowing" as UK GDP had grown at 1% for the same period in 2018. It said this represented the weakest annual rate since 2010.However, the expansion meant the UK avoided plunging into a recession, defined by two successive quarters of economic decline.It shrank by 0.2% in the three months to June 2019. Advertisement Despite this, the economy was slightly weaker than both market expectations and the Bank of England's latest forecasts, which had pointed to 0.4% growth for the period between July and September...
Wage growth at weakest level since January

Wage growth at weakest level since January

Business
There has been a further slowdown in the rate of pay growth, as the Bank of England mulls the timing of an interest rate rise. The Office for National Statistics (ONS) reported that average weekly wages, excluding bonuses, rose by 2.7% in the three months to May.That was down from 2.8% the previous month and its peak of 2.9% between January and March.According to the ONS, the 2.7% figure marked the slowest rate of wage growth since it reported salary progress in JanuaryHowever, it did report another new record for employment - with the proportion of people in work hitting 75.7% after 137,000 jobs were created over the three months. Image: Employment has remained ahead of most forecasts The performance failed to aid the jobless rate, wh...