Quantative easing now back on the cards as UK economy shrinks by 0.5%
The ONS also announced that the economy grew by 1.7% year on year, much less than the 2.6% forecasted. Economists have blamed the contraction on the wintry weather that affected most of Britain in December.
Mark Bolsom, head of the UK trading desk at Travelex Global Business Payments, commented: "We knew that snow had seriously impacted retail sales in December but this will come as a massive shock; nobody expected contraction.
"It's a real disaster, given that January's VAT hike will drain even
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Personal
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Insurers urged to pay claims quickly following BI ruling
- Supreme Court rejects insurers' appeals in BI test case judgment
- Analysis: Gaps in the market
- Test case insurers promise action after Supreme Court defeat
- A-Plan to absorb Howden’s UK retail business
- US-firm AssuredPartners buys Borland Insurance as it grows UK footprint
- Voyager promotes Stephen Cox to MD