Beds - Economics and Finance Society

Britain’s economy will struggle to grow by more than 1.2% this year as Brexit uncertainty hits business investment and sends house prices into reverse for the first time since the 2008 financial crash, the Office for Budget Responsibility has warned.

OBR caps UK growth forecast at 1.2% but says five-year outlook bright Forecaster’s mid-term outlook buoyed by £50bn in tax increases, despite low growth and falling house prices in 2019

Britain has signed a post-Brexit trade deal with the Pacific islands of Fiji and Papua New Guinea, as the government rushes to sign as many agreements as possible before 29 March.

UK signs post-Brexit trade deal with Fiji and Papua New Guinea Ministers rush to do deals with countries UK trades with under EU free trade arrangements

Two in five card payments are made using contactless technology as consumers appear to have cast aside any doubts of paying without a Pin.

Contactless card use surges as doubts ease Contactless use rose by 31% in 2018, data shows, with the technology accounting for two in five card payments.

The government has announced that most imports into the UK would not attract a tariff in the event of a no-deal Brexit.

Most imports tariff-free under no-deal plan The government announces that most imports into the UK would not attract a tariff in the event of a no-deal Brexit.

The UK economy grew by 0.2% in the three months to January, matching the growth of the previous three months.

UK economy stalls despite strong January The economy expanded by 0.5% in January but three monthly growth remained weak.

Former Indian central bank governor Raghuram Rajan has warned capitalism is "under serious threat" as it has stopped providing for the masses.

'Capitalism is under serious threat' Former Indian central bank governor Raghuram Rajan warns of the challenges facing global democracy.

The Turkish Statistical Institute said the economy shrank by 2.4% in the fourth quarter of 2018, from the previous quarter.

It followed a 1.6% drop the previous quarter, making two quarters of falling growth - the definition of recession.

A trade war with the US sparked a steep fall in Turkey's currency, making imports far more expensive.

Turkey's economy slides into recession The trade dispute with the US was one factor pushing Turkey's economy into recession last year.

UK manufacturers are cutting jobs at the fastest pace for six years with confidence in the sector hit by Brexit uncertainty, according to a closely-watched survey.

Manufacturing job losses 'at six-year high' Factories are cutting jobs and stockpiling at a record pace ahead of Brexit, a survey indicates.

US economic growth slowed to an annualised rate of 2.6% in the final three months of 2018, figures show.
However, the reading was ahead of expectations for a rate of between 1.8% and 2%.

US economic growth continues to slow Weaker consumer spending weighed on growth during the fourth quarter of 2018.

The UK government has published its assessment of the impact of a no-deal Brexit on business and trade and reports that some food prices are likely to increase and customs checks could cost business £13bn.

No-deal Brexit impact assessment published It says there is "little evidence" that businesses are "preparing in earnest for a no-deal scenario".

Only 6 out of 40 trade deals have been agreed by the UK post Brexit.

What trade deals has the UK done so far? The UK says it want to replicate the EU's trade agreements "as far as possible".

A weaker pound has impacted inflation, trade and the UK Deficit

How Brexit hit the pound in your pocket The value of the pound has changed a lot over the past three years - making us all a little poorer.