British Economy
FTSE 100 shares close lower
Mar 21, 2013 13:18 EDT
London shares closed lower on Thursday as traders looked past positive economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.
British retail sales rebound strongly in February
Mar 21, 2013 07:27 EDT
British retail sales jumped 2.1 percent in February, official data showed on Thursday, after dropping by 0.7 percent in January when snow caused shoppers to avoid the high street.
Govt sticks to austerity path in budget
Mar 20, 2013 22:47 EDT
The government will stick firmly to a barrage of austerity measures, Chancellor of the Exchequer George Osborne insisted in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
Britain sticks to austerity path in budget
Mar 20, 2013 21:49 EDT
Britain will stick firmly to a barrage of austerity measures, finance minister George Osborne insisted in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
London shares fall
Mar 20, 2013 13:21 EDT
London shares closed lower on Wednesday as the government announced its intention to stick firmly to a barrage of austerity measures while unveiling the budget.
Osborne retains BoE inflation target
Mar 20, 2013 11:56 EDT
George Osborne refrained from altering the Bank of England's inflation target on Wednesday, despite concerns that GDP would be a more sensible measure, but gave it more leeway to boost economic growth.
Budget: Osborne sticks to austerity path
Mar 20, 2013 11:42 EDT
Britain will stick firmly to a barrage of austerity measures, George Osborne insisted Wednesday in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
Britain readies for fresh austerity budget
Mar 20, 2013 08:13 EDT
British finance minister George Osborne was Wednesday set to stick firmly to the government's controversial austerity plan when he presents his annual budget to parliament despite a promise to spend on infrastructure.
BoE boss calls for more stimulus
Mar 20, 2013 07:22 EDT
Bank of England governor Mervyn King has repeated an earlier call for more quantitative easing stimulus cash, minutes of a recent policy meeting showed on Wednesday.
Osborne to unveil fresh austerity budget
Mar 20, 2013 06:27 EDT
George Osborne was Wednesday set to stick firmly to the government's controversial austerity plan when he presents his latest annual budget to parliament despite a promise to spend on infrastructure, as Britain sails close to another recession.
Govt to unveil tough new budget
Mar 20, 2013 04:15 EDT
The government was Wednesday set to unveil plans to grow Britain's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Gov't to unveil tough new budget
Mar 19, 2013 23:12 EDT
The government was Wednesday set to unveil plans to grow the country's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Britain awaits tough new budget
Mar 19, 2013 23:04 EDT
Britain's government was Wednesday set to unveil plans to grow the country's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Ministries face new cuts in budget: UK govt
Mar 19, 2013 11:28 EDT
British finance minister George Osborne will order ministries to make a further £2.5 billion in cuts over the next two years in his budget this week, the government said Tuesday.
UK inflation climbs to 2.8% in February
Mar 19, 2013 06:39 EDT
British 12-month inflation rose to 2.8 percent in February on the back of rising domestic energy costs and transport prices, official data showed on Tuesday.
China 'replaces UK' in top five arms exporters
Mar 18, 2013 06:24 EDT
China has overtaken Britain to become the world's fifth largest arms exporter with five percent of the global trade, its highest position since the Cold War, a Swedish think tank said on Monday.
Britain to compensate troops over Cyprus bank tax
Mar 17, 2013 09:36 EDT
Britain will compensate any British government and military personnel whose bank accounts in Cyprus are subject to an EU bailout levy, Finance Minister George Osborne said on Sunday.
London shares close weak
Mar 15, 2013 13:22 EDT
London shares closed in the red on Friday in downbeat pre-weekend deals before the outcome of a major eurozone ministers meeting that seeks to agree a bailout for the Cyprus government.
London shares open steady, consolidating gains
Mar 15, 2013 04:47 EDT
London shares were steady in early trade on Friday, consolidating recent gains after US stocks again flirted with record highs overnight, dealers said.
EU leaders wrestle with austerity as thousands protest
Mar 14, 2013 17:11 EDT
European Union leaders on Thursday wrestled with German demands for strict austerity and a French-led push for growth-friendly spending at a summit, which was targeted by thousands of protesters angry over rampant unemployment.
Facts from the Wikipedia page:
| Economy of the United Kingdom | |
|---|---|
| Currency | Pound sterling (GBP) |
| Fiscal year | 6th April - 5th April |
| Trade organisations | EU, BCN, OECD and WTO |
| Statistics | |
| GDP | $2.674 trillion(2008 est. nom.)[1] |
| GDP growth | -0.2% (Q3 2009) and -5.1% (Oct 2008 to Sep 2009)[2] |
| GDP per capita | $43,785 (2008 est. nom.)[1] (20th) |
| GDP by sector | agriculture (1%), industry (23%), services (76%) (2008 est.) |
| Inflation (CPI) | 5.7%(September 2009) |
| Population below poverty line | 14% with household income below 60% of UK median income (2006 est.) |
| Labour force | 31 million (includes unemployed) (2007 est.) |
| Labour force by occupation | Services (81%), industry (18%) and agriculture (1%) (excludes unemployed) (2007)[citation needed] |
| Unemployment | 7.5% (Q3 2009)[3] |
| Main industries | machine tools, industrial equipment, scientific equipment, shipbuilding, aircraft, motor vehicles and parts, electronic machinery, computers, processed metals, chemical products, coal mining, oil production, paper, food processing, textiles, clothing and other consumer goods. |
| External | |
| Exports | $442.2 billion (2007 est.) |
| Main export partners | USA 15%, Germany 11%, France 10%, Ireland 7%, Netherlands 6%, Belgium 6%, Spain 5%, Italy 4% (2007) |
| Imports | $621.4 billion (2007 est.) |
| Main import partners | Germany 14.2%, US 8.6%, China 7.3%, Netherlands 7.3%, France 6.9%, Belgium 4.7%, Norway 4.7%, Italy 4.2% (2007) |
| Public finances | |
| Public debt | 51.8% of GDP (2008 est.) |
| Revenues | $1.056 trillion |
| Expenses | $1.214 trillion (2008 est.) |
| Economic aid | $8 billion (donor) |
| Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars | |
