UK Economy

British Prime Minister Boris Johnson on Friday said the country will close all travel corridors from Monday as part of efforts to curb the spread of the deadly Covid-19. According to the BBC, travel corridors were introduced in the…

Britain looks on course to enter a double-dip recession this winter, as business surveys show economic growth almost halted last month even before the latest England-wide lockdown was announced, financial data company IHS Markit said. The…

Britain’s economy shrank by almost a fifth in the second quarter, entering recession because of the nationwide coronavirus lockdown, revised official data showed on Wednesday. Gross domestic product contracted by a record 19.8 per cent…

Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody’s warned on Friday, while its debts as a share of GDP will surge by 24 percentage points. Moody’s said the UK government’s…

Britain’s economy shrank by the most since 1979 in early 2020 as households slashed their spending, according to official data that included the first few days of the coronavirus lockdown. Gross domestic product dropped by a quarterly…

British finance minister Rishi Sunak said on Tuesday it would take time for the economy to get back to normal even when the government’s coronavirus shutdown is lifted. “It is not obvious that there will be an immediate bounce-back,”…

Britain’s economy contracted two percent in the first three months of the year, rocked by fallout from the coronavirus pandemic, official data showed Wednesday. Gross domestic product shrank in the first quarter compared with the prior…

For years, Bank of England boss Mark Carney warned of the economic risks of Britain leaving the European Union. Now that it has happened, he says there could be a silver lining in Prime Minister Boris Johnson’s plans to boost growth.…