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business_live:economy_etu_ns_to_g_owth_in_may

(Image: economy_etu_ns_to_g_owth_in_may) Markets are expected to start on the backfoot this morning as investors express rising concerns over the increasing number of coronavirus cases and tensions between the U.S. and China heat up.    The UK economy grew by 1.8 per cent in May as activity began to recover with the easing of coronavirus lockdown but remained a quarter below its pre-pandemic levels, according to official data.    UK retailers have said they saw the biggest monthly sales jump in more than two years in June after swathes of high street stores reopened but warned that the troubled sector is 'not out of the woods yet.' Online supermarket and technology group Ocado has said retail revenue soared 27 per cent year-on-year in its first half to May 31, boosted by the country being on lockdown for all of its second quarter. 

website economy grew by 1.8 per cent in May as activity began to recover with the easing of coronavirus lockdown but remained a quarter below its pre-pandemic levels, according to official data. UK retailers have said they saw the biggest monthly sales jump in more than two years in June after swathes of high street stores reopened but warned that the troubled sector is 'not out of the woods yet.'„,“headline„:„BUSINESS LIVE: Economy returns to growth in May; Retail sales back on the up; Lockdown boost for website website will spend £170m to kick-start 22 flood defence website government will spend £170million to kick-start 22 'shovel ready' flood defence projects in England as part of a £5.2billion package - with victims now able to claim insurance to protect their homes from future water damage.  The funding comes on top of a long term £5.2 billion package being set out by the Government, to construct around 2,000 new flood and coastal defences that will better protect 336,000 properties from flooding by 2027.“,“author„:“@type„:„Person“,“name„:„Harry website to fine shoppers without a face covering £100 from July website have today called for more clarity after the government announced face masks will become compulsory in all stores from next week. Shoppers who fail to comply risk fines of £100 under the plans to stop a second wave of coronavirus.“,“author„:“@type„:„Person“,“name„:„Harry website bounce-back from COVID-19 has got off to a disappointing website Stewart, chief economist at Deloitte, comments on the latest GDP figures: The bounce-back from COVID-19 has got off to a disappointing start. The pace of activity will have picked up sharply in June as the easing of the lockdown got underway. The chances of a quick return to normal, of the famed V-shaped recovery, are falling.  It is likely to take years, not months, to repair the damage to the economy done by COVID-19. “,“author„:“@type„:„Person“,“name„:„Camilla website is in the website FTSE 100 is down 1% at 6,112. The FTSE 250 is down 0.9% at 17,230.“,“author„:“@type„:„Person“,“name„:„Camilla website latest data sheds further light on just how much the economy has been affected by website Paleja, CBI Lead Economist, comments on GDP falling by 19.1% in the three months to May. The latest data sheds further light on just how much the economy has been affected by lockdown. While recent indicators suggest we have turned a corner, it’s clear many sectors are still in acute distress. Sadly, the legacies of this crisis will likely be felt for some time. The Chancellor’s Summer Statement was an important step forward, but many viable firms remain in danger as a result of reduced cash flow and a lack of consumer demand. The Government must continue to back a long-term, sustainable recovery while responding to the challenges companies are experiencing right now.“,“author„:“@type„:„Person“,“name„:„Camilla website figures 'point to choppy waters website Alster, head of investment service at wealth manager Close Brothers Asset Management, is disappointed by the rate of economic growth seen in May. He says: These are undoubtedly worrying figures. For the economy to only grow by 1.8 percent in May, the month where lockdown started to ease, points to choppy waters ahead. The Government will be hoping that we’ve already reached economic ‘rock bottom’ and that these latest figures are the start of a consistent, upward rebound. While GDP has improved slightly, it’s worth noting that the economy is still 25% smaller than it was in February, before the pandemic took hold. Jobs, both on the high street and in industry, are disappearing at an alarming rate and there are no signs yet of any real improvement in the UK labour market.“,“author„:“@type„:„Person“,“name„:„Camilla website grew by 1.8% in May - full website UK economy is showing the first signs of recovery after tumbling during the toughest phase of lockdown. Official figures showed GDP grew by 1.8 per cent in May, although it is still nearly a quarter lower than before the draconian coronavirus restrictions were imposed. The rise was also smaller than some economists had expected after huge plunges in March and April.  Full story below…“,“author„:“@type„:„Person“,“name„:„Camilla website 'can't rely on inflation to tackle its £2trillion debt website UK can no longer rely on inflation to tackle its £2trillion debt pile, the head of the government's watchdog has warned. Richard Hughes, who is set to take charge of the Office for Budget Responsibility later this year said previously the 'trick' for politicians had been to whittle down the 'real value' of the country's liabilities.“,“author„:“@type„:„Person“,“name„:„Harry website

  
      
          
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              Camilla Canocchi
              

Host commentator

          
          
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              Harry Wise
              

Host commentator

  
      
          
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      08:36 
  
  
          Government will spend £170m to kick-start 22 flood defence projects
  
  
      The government will spend £170million to kick-start 22 'shovel ready' flood defence projects in England as part of a £5.2billion package - with victims now able to claim insurance to protect their homes from future water damage. 

The funding comes on top of a long term £5.2 billion package being set out by the Government, to construct around 2,000 new flood and coastal defences that will better protect 336,000 properties from flooding by 2027.

      
          
                                  
                                      
                                          [[|]][[| Government will spend £170m to kick-start 22 flood defence projects]]
                                      
                                      
                                          Around £170million worth of funding has been earmed in a £5.2billion package to improve flood prevention packages in places such as Leeds, the Severn Valley and in Lowestoft.
                                      
                                      
                                          [[|]]
                                          [[| Mail Online]]
                                      
                                  
                              
      
  
      08:31 
  
  
          Police to fine shoppers without a face covering £100 from July 24
  
  
      Retailers have today called for more clarity after the government announced face masks will become compulsory in all stores from next week.

Shoppers who fail to comply risk fines of £100 under the plans to stop a second wave of economy_etu_ns_to_g_owth_in_mayeconomy_etu_ns_to_g_owth_in_may Police to fine shoppers without a face covering £100 from July 24

                                      
                                      
                                          Shoppers who fail to comply risk fines of £100. Only young children or those with certain disabilities will be exempt from the new regulations which come in on Friday, July 24.
                                      
                                      
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                                          [[| Mail Online]]
                                      
                                  
                              
      
  
      08:24 
  
  
          'The bounce-back from COVID-19 has got off to a disappointing start'
  
  
      Ian Stewart, chief economist at Deloitte, comments on the latest GDP figures:

The bounce-back from COVID-19 has got off to a disappointing start. The pace of activity will have picked up sharply in June as the easing of the lockdown got underway. The chances of a quick return to normal, of the famed V-shaped recovery, are falling. 

It is likely to take years, not months, to repair the damage to the economy done by COVID-19. 

  
      08:23 
  
  
          Footsie is in the red
  
  
      

The FTSE 100 is down 1% at 6,112.

The FTSE 250 is down 0.9% at 17,230.

  
      08:22 
  
  
          'The latest data sheds further light on just how much the economy has been affected by lockdown'
  
  
      

Alpesh Paleja, CBI Lead Economist, comments on GDP falling by 19.1% in the three months to May.

The latest data sheds further light on just how much the economy has been affected by lockdown. While recent indicators suggest we have turned a corner, it’s clear many sectors are still in acute distress.

Sadly, the legacies of this crisis will likely be felt for some time. The Chancellor’s Summer Statement was an important step forward, but many viable firms remain in danger as a result of reduced cash flow and a lack of consumer demand.

The Government must continue to back a long-term, sustainable recovery while responding to the challenges companies are experiencing right now.

  
      08:19 
  
  
          GDP figures 'point to choppy waters ahead'
  
  
      

Robert Alster, head of investment service at wealth manager Close Brothers Asset Management, is disappointed by the rate of economic growth seen in May. He says:

These are undoubtedly worrying figures. For the economy to only grow by 1.8 percent in May, the month where lockdown started to ease, points to choppy waters ahead.

The Government will be hoping that we’ve already reached economic ‘rock bottom’ and that these latest figures are the start of a consistent, upward rebound.

While GDP has improved slightly, it’s worth noting that the economy is still 25% smaller than it was in February, before the pandemic took hold. Jobs, both on the high street and in industry, are disappearing at an alarming rate and there are no signs yet of any real improvement in the UK labour market.

  
      08:18 
  
  
          GDP grew by 1.8% in May - full story
  
  
      The UK economy is showing the first signs of recovery after tumbling during the toughest phase of lockdown.

Official figures showed GDP grew by 1.8 per cent in May, https://penzu.com/public/6e610c6e although it is still nearly a quarter lower than before the draconian coronavirus restrictions were imposed.

The rise was also smaller than some economists had expected after huge plunges in March and April. 

Full story below…

      
          
                                  
                                      
                                          [[|]][[| Start of the recovery? UK economy grew 1.8 per cent in May]]
                                      
                                      
                                          Official figures showed GDP grew by 1.8 per cent in May, although it is still nearly a quarter lower than before the draconian coronavirus restrictions were imposed.
                                      
                                      
                                          [[|]]
                                          [[| Mail Online]]
                                      
                                  
                              
      
  
      08:16 
  
  
          UK 'can't rely on inflation to tackle its £2trillion debt pile'
  
  
      The UK can no longer rely on inflation to tackle its £2trillion debt pile, the head of the government's watchdog has warned.

Richard Hughes, who is set to take charge of the Office for Budget Responsibility later this year said previously the 'trick' for politicians had been to whittle down the 'real value' of the country's liabilities.

      
          
                                  
                                      
                                          [[|]][[| UK 'can't rely on inflation to tackle its £2trillion debt pile']]
                                      
                                      
                                          Richard Hughes, who is set to take charge of the OBR later this year said previously the 'trick' for politicians had been to whittle down the 'real value' of the country's liabilities.
                                      
                                      
                                          [[|]]
                                          [[| Mail Online]]
                                      
                                  
                              
      
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business_live/economy_etu_ns_to_g_owth_in_may.txt · Zuletzt geändert: 2020/08/06 12:22 von sandrawhitham2