Tag: April

UK economy shrinks record 20.4% in April due to lockdown

Image copyright PA Media The UK’s economy shrank by 20.4% in April – the largest monthly contraction on record – as the UK spent its first full month in lockdown. The Office for National Statistics (ONS) said the “historic” fall affected virtually all areas of activity. The contraction is three times greater than the decline seen during the whole of… Read more →

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UK borrowing at record high as virus cost soars in April

Image copyright Getty Images Image caption The furlough scheme means the government is paying the wages of more than 6.3 million people The government borrowed £62.1bn in April, the highest monthly figure on record, according to official figures. It underlines the cost of coping with the coronavirus pandemic through jobs schemes and loans, and is double the forecast of many… Read more →

UK inflation falls sharply in April to 0.8%

Image copyright Getty Images The UK’s inflation rate fell in April to its lowest since August 2016 as the economic fallout of the first month of the lockdown hit prices. The Consumer Prices Index (CPI) fell to 0.8% from 1.5% in March, the Office for National Statistics (ONS) said. Falling petrol and diesel prices, plus lower energy bills, were the… Read more →

Coronavirus: Unemployment in NI rose by almost 90% in April

Image copyright Google Maps Unemployment in Northern Ireland rose by almost 90% in April, official figures suggest. The figures from the NI Statistics and Research Agency (Nisra) are the first official indicator of the impact of coronavirus on the NI economy. They show that claimant count unemployment increased from 29,700 to 56,200. That is the highest monthly increase since records… Read more →

Coronavirus: ‘Severe contraction’ in NI economy in April

Image copyright Getty Images The Northern Ireland’s private sector suffered a “severe contraction” in April, Ulster Bank’s chief economist has said. Richard Ramsey’s comments came as the bank’s monthly survey saw the steepest ever monthly fall in business activity. Since 2002, the bank has conducted a monthly survey of a representative sample of firms. The April survey showed activity collapsing,… Read more →