The UK economy is slowing down. Increased by 0.1% in October

Growth in the United Kingdom remained at 0.1% in October after a slowdown in the third quarter of the year, even before the repercussions of the spread of the Micron from the Corona virus were manifested, under the impact of supply chain problems. are reflected in some economic sectors.

Gross domestic product faced a decline in construction industry activity that completely overshadowed the recovery in services, the National Statistics Bureau reported in its monthly report on Friday.

Britain’s gross domestic product (GDP) increased by 1.3% in the third quarter. Overall economic activity remains 0.5% below its level before the outbreak of the Covid-19 epidemic.

The construction sector has seen the largest decline in production since April 2020, when the first quarantine began, as the global construction materials crisis has led to the delay of many projects.

The shortage of spare parts and semiconductors is also reflected in the manufacturing of the automotive sectors. On the other hand, services have restored the pre-epidemic level of productivity, even if direct services to people are lagging behind. Restaurants saw a decline in activity after the summer boom.

Most economists believe that Omicron’s stagnant growth and expected impact on the economy before they enter in new restrictions on activity could force the Bank of England to refrain from raising interest rates at its meeting next week, despite rising inflation.

The repercussions of the spread of the new mutation on British economic growth could manifest themselves by the end of the year, in considered more contagious than previous mutations and has already led to the imposition of restrictions on international transport and new health measures in the UK.

Britain has a balance sheet that is one of the worst in Europe in terms of Covid, which has reached around 146,000 deaths, while the daily infection rate approaches 45,000 cases per day.

Scientists fear that the capabilities of the British hospital system, which is already under great pressure, will be exhausted if the Omicron mutant causes a new wave of infections.

After calling on the government to resume remote work whenever possible, the unions have called for measures to support jobs again. The Confederation of British Industry, an employers’ body, has also asked the government to “help businesses affected” by the new health restrictions.

On the other hand, the National Statistical Office released a report on foreign trade on Friday which revealed that imports from the European Union fell by 700 million pounds in October, while imports from countries outside the Union European Union increased by 300 million pounds.

Exports of products to the European Union also decreased by 400 million pounds, while they increased by 800 million pounds to countries outside the European Union.

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