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28/09/2005
UK GDP figures reveal small rise
The latest figures for the UK economy have revealed the slowest rate of growth since 1993.
The figures from the Office of National Statistics published today showed that the economy grew by just 0.5% in the second quarter of 2005, which means that the annual rate has had to be revised downward to 1.5%, down from 1.8%.
While the service sector grew by 0.6%, growth in the last three months, driven by a rise within the business services and finance, government and hotels and catering sectors, manufacturing output declined by 0.2%.
In the three months to June, the ONS figures revealed that the paper, printing and publishing industries declined by 2.1% and the coke, refined petroleum and nuclear fuel industries declined by 7.8%. Energy supply rose by 1.0% and energy extraction rose by 0.3%. Construction output rose by 0.6% in the latest quarter.
Household expenditure rose by 0.4%, following 0.1% growth in the first quarter of 2005. This increase was double that predicted.
Over the quarter exports rose by 4.4%, driven mainly by exports of goods which rose 6.7%, while exports of services fell by 0.1%. Imports rose by 1.9% as imports of goods rose by 2.4% and imports of services rose by 0.4%.
Chancellor Gordon Brown conceded earlier this week that the economic growth was unlikely to reach the forecast 3 to 3.5% for 2005.
A retail survey from the CBI, which looks at distributive trades has predicted a difficult Christmas for retailers. The study, which compares retailers reporting sales increases with those reporting sales decreases, revealed a -24% score, the lowest figure yet produced in the survey.
The poor economic performance figures have led to speculation that the Bank Of England's Monetary Policy Committee, which is due to announce the interest rate, will hold the rate.
(SP/KMcA)
The figures from the Office of National Statistics published today showed that the economy grew by just 0.5% in the second quarter of 2005, which means that the annual rate has had to be revised downward to 1.5%, down from 1.8%.
While the service sector grew by 0.6%, growth in the last three months, driven by a rise within the business services and finance, government and hotels and catering sectors, manufacturing output declined by 0.2%.
In the three months to June, the ONS figures revealed that the paper, printing and publishing industries declined by 2.1% and the coke, refined petroleum and nuclear fuel industries declined by 7.8%. Energy supply rose by 1.0% and energy extraction rose by 0.3%. Construction output rose by 0.6% in the latest quarter.
Household expenditure rose by 0.4%, following 0.1% growth in the first quarter of 2005. This increase was double that predicted.
Over the quarter exports rose by 4.4%, driven mainly by exports of goods which rose 6.7%, while exports of services fell by 0.1%. Imports rose by 1.9% as imports of goods rose by 2.4% and imports of services rose by 0.4%.
Chancellor Gordon Brown conceded earlier this week that the economic growth was unlikely to reach the forecast 3 to 3.5% for 2005.
A retail survey from the CBI, which looks at distributive trades has predicted a difficult Christmas for retailers. The study, which compares retailers reporting sales increases with those reporting sales decreases, revealed a -24% score, the lowest figure yet produced in the survey.
The poor economic performance figures have led to speculation that the Bank Of England's Monetary Policy Committee, which is due to announce the interest rate, will hold the rate.
(SP/KMcA)
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15 September 2004
Official figures show big rise in employment rate
Employment levels are up, and the number of people claiming out-of-work benefits is down, according to official figures out today. The number of people in work in the UK was 28.3 million in the three months to July 2004, up 179,000 in a year. Official unemployment figures show a fall of 87,000 to 1.41 million over the same period.
Official figures show big rise in employment rate
Employment levels are up, and the number of people claiming out-of-work benefits is down, according to official figures out today. The number of people in work in the UK was 28.3 million in the three months to July 2004, up 179,000 in a year. Official unemployment figures show a fall of 87,000 to 1.41 million over the same period.
16 July 2008
Unemployment Figures On The Rise
Unemployment in the UK increased by 12,000 to 1.62 million in the three months to May, the latest figures have revealed. The Office of National Statistics reported that the number of people in the UK claiming Jobseeker's Allowance rose by 15,500 to reach 840,100 in June. This was the largest monthly increase since December 1992.
Unemployment Figures On The Rise
Unemployment in the UK increased by 12,000 to 1.62 million in the three months to May, the latest figures have revealed. The Office of National Statistics reported that the number of people in the UK claiming Jobseeker's Allowance rose by 15,500 to reach 840,100 in June. This was the largest monthly increase since December 1992.
14 September 2005
UK unemployment figures on the rise
The number of unemployed people in the UK has risen, although the unemployment rate has remained unchanged, the latest figures reveal. The number of people out of work increased by 12,000 to 1.42 million from the previous quarter, the Office of National Statistics reported. However, the unemployment rate remained static at 4.7%.
UK unemployment figures on the rise
The number of unemployed people in the UK has risen, although the unemployment rate has remained unchanged, the latest figures reveal. The number of people out of work increased by 12,000 to 1.42 million from the previous quarter, the Office of National Statistics reported. However, the unemployment rate remained static at 4.7%.
20 April 2004
UK inflation rate falls to 1.1%
The latest figures on UK inflation has revealed a surprise fall taking the rate to 1.1%. The Consumer Price Index had been expected to show a slight rise, but today's figures showed a dip of 0.2% on the February figure of 1.3%.
UK inflation rate falls to 1.1%
The latest figures on UK inflation has revealed a surprise fall taking the rate to 1.1%. The Consumer Price Index had been expected to show a slight rise, but today's figures showed a dip of 0.2% on the February figure of 1.3%.
05 April 2005
House prices rise following March dip
House prices increased by 0.5% in March, the Halifax has reported, offsetting the 0.5% fall in February. There has been "virtually no change" in UK house prices since last September.
House prices rise following March dip
House prices increased by 0.5% in March, the Halifax has reported, offsetting the 0.5% fall in February. There has been "virtually no change" in UK house prices since last September.
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Northern Ireland WeatherToday:A cloudy day with outbreaks of mainly light rain at times, although there may be the odd heavier burst. Driest in the south and east during the afternoon. Moderate southwesterly winds. Maximum temperature 11 °C.Tonight:Staying cloudy throughout the evening and overnight period with a little rain or drizzle at times. Mild overnight with light winds. Minimum temperature 7 °C.
