The Latest Breaking News on Economy

I would be the first to admit it. My stories and commentaries on the state of the British economy have not made for very cheery reading over the past two or three years. Close friends have taken to calling me the Prynn Reaper during the seemingly interminable and gruelling cost…

GDP growth juddered to a halt in June, backing theory the rebound is weak. The next six months could be tough

ONS data shows strong performance in second quarter with the service sector helping drive growth

US retail sales grew by 1% in July, much stronger than the 0.3% expected; UK GDP grew by by 0.6% in second quarter of 2024

Private sector wages growth was up just 0.7% for the June quarter, the equal lowest since the end of 2021

Workers are still experiencing stronger wage growth than pre-pandemic but average pay rises have peaked and are expected to keep moderating.

New data on wage growth and demand for workers will be in focus this week, as borrowers await clues on when the central bank might cut interest rates.

Equities across the planet have seen big fluctuations since a closely watched gauge of the US labour market came in well below forecasts and fanned fears the Federal Reserve may have waited too long to cut interest rates.

Asian stocks rallied Friday as investors breathed a sigh of relief after US jobs data soothed concerns that the world's top economy could tip into recession, bringing a painful week to a positive end.

The unexpected rise of US unemployment rate to a nearly three-year high has shaken the market and split economists.

US chip titan Intel became the latest bearer of bad news, warning it would slash more than 15 percent of its workforce -- about 18,000 jobs -- as it streamlines operations.