“Spending fatigue” has set in on both sides of the Atlantic, The Wall Street Journal reported, as shoppers in the U.K. spent 2.3 percent less in April than in March, the National Bureau for Statistics reported.
Tag: United Kingdom
INFLATION, RETAIL SALES IN U.K. KEEP SLOWING DOWN
In October, sharply lower energy prices dropped Britain’s inflation rate to 4.6 percent, the slowest since October 2021, after running at 6.7 percent in September.
U.K. GROCERY INFLATION FALLS TO SINGLE DIGITS FOR FIRST TIME IN 18 MONTHS
Inflation in British grocery prices fell to 9.7 percent in the four weeks ending 29 October, the first time monthly food price gains have been limited to single digits since July 2022, research service Kantar reported.
BRITAIN’S ECONOMY STAGNATES IN THIRD QUARTER
The U.K.’s economy showed no growth in this year’s third quarter from the second, “entering what is expected to be a protracted period of stagnation on the cusp of a recession,” The New York Times reported.
U.K. RUNNING OUT OF WEAPONS TO GIVE TO UKRAINE
The U.K. is running low on its weapons arsenal and can’t continue to flood Ukraine amid Kyiv’s ongoing war with Russia.
U.K. WILL PLACE THIRD IN GLOBAL AI SWEEPSTAKES, STUDY SAYS
Britain’s AI sector will grow from £1.36 trillion (about $1.7 trillion) to £2.4 trillion ($3 trillion) by 2027, making it the world’s third-largest AI economy behind the U.S. and China, according to an analysis by the information clearinghouse Global AI Ecosystem.
AHEAD OF AI SAFETY SUMMIT, U.K. REGULATORS LIST GUIDING PRINCIPLES FOR AI DEVELOPMENT
“The speed at which AI is becoming part of everyday life for people and businesses is dramatic,” Sarah Cardell, CEO of the CMA, said in a statement listing the principles.
U.K.’S LARGEST ASSET MANAGER REGROUPS FOR RECESSION
Legal & General Investment Management (LGIM), Britain’s largest asset manager, has been selling off stocks and buying bonds on the judgment that the Bank of England (BoE) will be forced to raise interest rates so high that a “significant” recession will be unavoidable.
U.K. ECONOMY SUCKS, VOTERS DON’T WANT SUNAK CLUB
British Prime Minister Rishi Sunak is learning that hatred for Russians can only get you so far when the economy tanks.