Tag: years

UK officially in recession for first time in 11 years

Image copyright TOLGA AKMEN The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession. The economy shrank 20.4% compared with the first three months of the year. Household spending plunged as shops were ordered to close, while factory and construction output also fell. This pushed the UK… Read more →

Argos axes ‘book of dreams’ catalogue after 48 years

Image copyright Getty Images “The laminated book of dreams,” was how comedian Bill Bailey jokingly described the plastic-coated Argos catalogue. But 48 years on from its launch, the catalogue is finally coming to an end. The encyclopedia-like catalogues, the basis of many a child’s Christmas wishlist, will no longer be regularly printed by the end of the January 2021. The… Read more →

Coronavirus: Lost school time ‘will hurt economy for 65 years’ – study

Image copyright Getty Images Image caption The disruption to schools could cause economic harm for decades, say researchers The school time lost because of the pandemic could harm the UK economy for the next 65 years, research published by the Royal Society suggests. The study says the disruption to lessons will have a negative impact on the future skills of… Read more →

House prices see largest monthly fall for 11 years, says Nationwide

Image copyright Getty Images House prices fell 1.7% in May from the previous month, the largest monthly fall for 11 years, according to the Nationwide. Annual house price growth halved from 3.7% to 1.8%, as the coronavirus crisis hit market activity. The latest HMRC data showed that residential property transactions fell 53% in April compared with 2019. “The medium-term outlook… Read more →

Coronavirus: Leading economist warns of 10 years of depression and debt

Image copyright Getty Images Economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini said there are some jobs that simply will not come back after this crisis. Even if the global economy recovers this year from the impact of the coronavirus, it will be “anaemic”.… Read more →