UK GDP rises 0.1% in the first quarter of 2023 - Breaking The News

UK GDP rises 0.1% in the first quarter of 2023

12 May

1 min read

The United Kingdom's gross domestic product (GDP) rose 0.1% in the first quarter of 2023, according to a first estimate released by the country's Office for National Statistics (ONS) on Friday. On a monthly basis, the figure declined by 0.3% in March 2023.

According to data published by the office, the construction sector increased by 0.7%, while services and production grew by 0.1% each.

On an annual basis, the UK GDP was up 0.2% from the first quarter of 2022. Regarding spending, household consumption did not grow in the quarter, while gross fixed capital formation made a positive contribution.

data gdp

Australia's private sector activity eases in April

16 minutes ago

Australian private sector's business activity declined in April, with key economic indicators falling slightly compared to the month prior, according to a preliminary report published by S&P Global.The flash services PMI indicating activity in the private business sector came in at 51.4, hitting a two-month low, above the neutral 50 mark, but falling compared to the March figure of 51.6. At the same time, the manufacturing PMI landed at 51.7, slowing from 52.1...

US oil inventories reportedly down by 4.6M barrels

3 hours ago

Crude oil inventories in the United States fell by 4.6 million barrels in the week that ended April 15, the American Petroleum Institute's (API) private data allegedly showed on Tuesday.Meanwhile, reserves in Cushing, Oklahoma, allegedly slumped by 354,000 barrels. Gasoline stockpiles decreased by 2.2 million barrels, while distillate inventories lost 1.6 million barrels, according to the reported data.

Consumer confidence in Eurozone to drop in April

9 hours ago

Consumer confidence in the Eurozone will decline further in April as the indicator index is projected to decline from March's negative 14.5 and land at negative 16.7, the European Commission said in its preliminary report published on Tuesday.In the European Union, the indicator will go down by 2.1 percentage points month-on-month to negative 16. Both indices "moved further away" from their long-term average and are predicted to hit their lowest...

IMF cuts global growth in 2025 to 2.8% from 3.3%

10 hours ago

The International Monetary Fund (IMF) cut on Tuesday the global growth forecast for 2025 to 2.8% from 3.3% previously. Next year's projection was also revised down to 3% from 3.3%. The organization said the global economic system is "being reset," citing wide-ranging tariffs imposed by the United States.The IMF predicted that the US economy will grow by 1.8% this year, 0.9 percentage points lower than the previous estimate, with tariffs accounting...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.