UK economy sees slowdown in Q2 compared with Q1, GDP expands by 0.2%
03 Oct 22 1 min read
The current account deficit stood at 5.5 per cent of GDP in Q2.
Having reached a 40-year high in July, there was a slight fall in 12-month rate of the consumer price index (CPI) inflation to 9.9 per cent in August, which reflected lower motor fuel prices.
In Q2 this year, household spending growth (adjusted for inflation) was a positive 0.1 per cent compared with Q1. When compared with Q2 2021, household spending increased by 4.3 per cent.
Related News
- Clothing & footwear CPI in Turkiye sees lowest 51.2% YoY rise in Apr
- Economic activity in US manufacturing sector contracts in April: ISM
- US Fed’s FOMC decides to keep interest rates unchanged
- ICE cotton contracts hit multi-month lows amid market turbulence
- Deloitte’s baseline forecast for US economy optimistic
- Year-to-Apr UK retail sales fall sharply: CBI survey
Compared with Q4 2019, before the effects of the coronavirus (COVID-19) pandemic were seen, household spending decreased by 2.7 per cent.
Fibre2Fashion News Desk (DS)
Popular News
|
IMF proposes Bangladesh to scrap tax rebates for 33 sectors: Reports |
|
German brand Puma teams up with KidSuper to redefine sportswear |
|
Indian fashion retailers make significant strides in sustainability |
|
UK’s Frasers Group announces acquisition of Matches Fashion's IP |
|
Universal Fibers to unveil ReFigure at Clerkenwell Design Week in UK |
|
Canadian retailer Loblaw’s revenue surges 4.5% in Q1 FY24 |