(usda loan mortgage companies, qualifications for a conventional mortgage loan, mortgage home loan process, va mortgage loan credit score requirements, what is the mortgage rate for a va loan, how to apply for a va mortgage loan, mortgage loan omaha, movement mortgage va loan, sierra pacific mortgage my home loan, when to refinance mortgage loan, how much is a jumbo mortgage loan, mortgage loan options for first time home buyers, mortgage loan income to debt ratio, what does it take to be a mortgage loan officer, refinance mortgage and equity loan, qualify for a fha mortgage loan, second mortgage or home equity loan, advantages of a va mortgage loan, va mortgage loan closing costs, apply for mortgage loan online with bad credit, mortgage loan disclosures within 3 days, how to get home mortgage loan, federal home loan mortgage company, prequalify for mortgage loan online, refinance mortgage vs home equity loan, citigroup mortgage loan trust inc phone number, mortgage loan pre approval online, mortgage loan expenses, apply online for mortgage loan, second mortgage loan companies, harp loan second mortgage, fha loan without mortgage insurance, home loan mortgage broker, can i refinance my mortgage and home equity loan together, what is the maximum loan amount for a reverse mortgage, 200k loan mortgage, can i get a home improvement loan with my mortgage, 21st mortgage loan requirements, no mortgage home equity loan, pre approved mortgage but denied loan, bank or mortgage company for home loan, mortgage loan grants, va loan mortgage companies, 100 loan to value mortgage refinance, mortgage loan rate vs apr, veterans mortgage loan, estimate mortgage loan approval amount, who can get a va mortgage loan, is a home equity loan the same as a mortgage, va mortgage loan eligibility, difference between mortgage and home loan, reverse mortgage loan rates, reverse mortgage home loan, reverse mortgage loan scheme sbi, best cheapest car insurance company, who is the best car insurance company for young drivers, best term insurance company, best online car insurance company, best insurance company for drivers with points, best cheap car insurance company, best company for auto insurance, best cheapest auto insurance company, best car insurance company for new drivers, best company for car insurance, cheapest best auto insurance company, which is the best insurance company for auto, what is the best home and auto insurance company, what is the best and cheapest auto insurance company, best and cheapest car insurance company, best company for home and auto insurance, navigators insurance company am best rating, best car insurance company 2015, what is the best insurance company for auto, best car insurance company california, what is the cheapest and best car insurance company, best car insurance company in california, best online insurance company, who is the best rated auto insurance company, best insurance company for auto and home, automotive accident lawyers, accident automotive, automotive insurance company, cheap automotive insurance, automotive insurance, automotive insurance quotes, automotive insurance new york, automotive insurance companies, automotive certification online)
Montana

UK economy shrinks as economists warn of more pain to come

By JILL LAWLESS – Associated Press

LONDON (AP) – The UK economy contracted within the three months to September, official statistics stated on Friday, as forecasters warned of many months of contraction forward.

The Office for National Statistics stated gross home product fell 0.2% between July and September, a smaller-than-expected fall however nonetheless seen as a sign of the beginning of an extended recession.

The GDP shrank by 0.6% in September and by 0.1% in August, the statistics workplace stated. Behind the drop are a drop in manufacturing output and a further vacation to mark the dying of Queen Elizabeth II.

The UK economy is now 0.2% smaller than it was in February 2020, simply earlier than the COVID-19 pandemic shut down giant components of the economy for months.

The UK economy is struggling like many different international locations as the Russian invasion of Ukraine has pushed up meals and power prices and pushed client value inflation to a 40-year excessive.

People additionally learn…

Martin McTague, nationwide chair of the Federation of Small Businesses, stated the decline in GDP “is a headline figure made up of a zillion pieces of disappointing news for small businesses across the country – a new venue or premises they couldn’t open, a contract which ended unexpectedly, one employee had to be laid off.”

The Bank of England last week raised its main interest rate by three-quarters of a point to 3% – the largest hike in three decades. The central bank said the move was necessary to beat back stubbornly high inflation, which is eroding living standards and likely to trigger a “extended” recession.

UK finances took a turn for the worse when then Prime Minister Liz Truss announced a huge package of unfunded tax cuts on September 23. The package alarmed financial markets, sending the pound to record lows against the dollar and forcing the Bank of England to intervene to stop the spread of the crisis.

Truss resigned less than a month later, leaving her successor, Prime Minister Rishi Sunak, and Treasury chief Jeremy Hunt to find billions in savings to shore up the nation’s finances.

Hunt is due to make an emergency budget statement next week that is expected to include both tax hikes and public spending cuts. He said Friday’s figures showed that “extraordinarily tough selections would have to be made to restore confidence and financial stability. But to obtain long-term, sustainable progress, we’d like to get inflation underneath management, steadiness the books, and scale back debt. There isn’t any different manner.”

Nicholas Hyett, an equity analyst at investment firm Wealth Club, said economic output in the third quarter was “full of pink flags.”

“As customers shut the hatches to a harsh winter and the federal government proposes vital tax hikes and spending cuts, we consider the economy will contract once more within the fourth quarter,” he stated.

Copyright 2022 The Associated Press. All rights reserved. This materials will not be revealed, broadcast, transcribed or redistributed with out permission.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button