Figures published by the Office for National Statistics on 10 May 2024 show that the UK has officially exited recession.
UK gross domestic product (GDP) is estimated to have increased by 0.6% in Quarter 1 (Jan to Mar) 2024, following declines of 0.3% in Quarter 4 (Oct to Dec) and 0.1% in Quarter 3 (July to Sept) 2023. The UK had entered a period of recession after its GDP had shrunk for more than two quarters in a row.
To read more, see: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/januarytomarch2024
If you’ve ever reached the end of a busy month wondering where your profits have gone, you’re not alone. For many small business owners, cash seems to disappear faster than it arrives.
UK house prices recorded their steepest monthly fall in over two years in June, according to the latest data from mortgage lender Nationwide. Prices declined by 0.8%, marking the largest drop since February 2023.