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27/07/2001
UK economic growth falls to lowest rate
Business analysts have revealed that UK economic growth has fallen to its lowest rate in more than two years.
A new economic report has revealed that while the British economy has performed more robustly than its neighbours in recent months, it has been inevitable that the slowdown in the US would take its toll sooner or later.
Gross domestic product (GDP) grew by just over 2.1 per cent year-on-year in the second quarter of 2001, according to preliminary figures - sharply down from the 2.7 per cent annual rate reported in the first quarter.
During the second quarter alone, GDP grew by 0.3 per cent, the slowest quarterly rate since October 1998.
The news is likely to add further fuel to the campaign for a cut in interest rates. However, the Bank of England's Monetary Policy Committee (MPC) has left base rates unchanged, at 5.25%, since May. The MPC is due to meet again on 1 and 2 August. (MB)
A new economic report has revealed that while the British economy has performed more robustly than its neighbours in recent months, it has been inevitable that the slowdown in the US would take its toll sooner or later.
Gross domestic product (GDP) grew by just over 2.1 per cent year-on-year in the second quarter of 2001, according to preliminary figures - sharply down from the 2.7 per cent annual rate reported in the first quarter.
During the second quarter alone, GDP grew by 0.3 per cent, the slowest quarterly rate since October 1998.
The news is likely to add further fuel to the campaign for a cut in interest rates. However, the Bank of England's Monetary Policy Committee (MPC) has left base rates unchanged, at 5.25%, since May. The MPC is due to meet again on 1 and 2 August. (MB)
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25 January 2002
UK economy shows tenacity in GDP report
UK growth slowed down during the fourth quarter of 2001 in comparison to the previous three-month period – but the economy as a whole has expanded by 2.4 per cent. According to the latest figures from the Office for National Statistics (ONS) gross domestic product (GDP) rose by 0.
UK economy shows tenacity in GDP report
UK growth slowed down during the fourth quarter of 2001 in comparison to the previous three-month period – but the economy as a whole has expanded by 2.4 per cent. According to the latest figures from the Office for National Statistics (ONS) gross domestic product (GDP) rose by 0.
02 October 2001
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
18 June 2002
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
17 April 2002
Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
21 February 2002
Nationwide offers blanket deal on mortgage compensation
Nationwide, the UK's biggest building society, are to compensate 400,000 of their members who were not offered the same mortgage deals as those offered to new members. The society will move all their existing variable rate borrowers onto a lower rate, which will cost Nationwide an estimated £90 million.
Nationwide offers blanket deal on mortgage compensation
Nationwide, the UK's biggest building society, are to compensate 400,000 of their members who were not offered the same mortgage deals as those offered to new members. The society will move all their existing variable rate borrowers onto a lower rate, which will cost Nationwide an estimated £90 million.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
