UK economic growth picks up as stockpiling bolsters manufacturing

Manufacturing increased by 1.5% in January but by only 0.9% in March. Photograph: Si Barber/Bloomberg News Britain’s economy strengthened in the first three months of the year, with growth of 0.5% helped by unprecedented stockpiling by manufacturersfearful of the impact from a no-deal Brexit. It was an improvement on 0.2% growth in the previous three months and was bolstered by the strongest quarterly performance for manufacturers since 1988, with factory output up 2.2%, according to the figures from the Office for National Statistics. However, widespread uncertainty about the Brexit negotiations proved to have a…

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UK new car sales fall 1.6 percent in January

LONDON: British new car registrations dropped 1.6 percent last month as a double-digit drop in demand for diesel vehicles continued to weigh down sales, according to data from a car industry body. Sales fell to 161,013 cars, the fifth consecutive month of declines, pulled down by a 20 per cent fall in diesel car registrations, according to data from the Society of Motor Manufacturers and Traders (SMMT). “To restore momentum, we need supportive policies, not least on vehicle taxation, to encourage buyers to invest in new, cleaner vehicles that best suit their driving needs,”…

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India likely to surpass UK in the world’s largest economy rankings: Report

India is likely to surpass the United Kingdom in the world’s largest economy rankings in 2019, according to a report by global consultancy firm PwC. As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India’s climb up the rankings is likely to be permanent. PwC’s Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019. “India and France…

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