@peter_IFAMAG reads Twitter so you don’t have to.
New ONS data shows the UK enters the worst recession of and G7 economy in Q2. Various economic pundits give their takes on the situation. Elsewhere online banks show handsome profits.
Faisal Islam covers the ONS data on the UK’s remarkable recession.
Recession confirmed by ONS – no surprise. But the sheer extent of this negative number – 20.4% in second quarter is still extraordinary.
Mostly driven by what happened in April where a fraction ( a fifth) of the economy shut down, when it is normally fractions of a per cent….
— Faisal Islam (@faisalislam) August 12, 2020
Chris Giles forgets about Sweden.
Remember: If you allow coronavirus to spread, your economy suffers pic.twitter.com/zqfmm9JhGN
— Chris Giles (@ChrisGiles_) August 12, 2020
Jonathon Athow, Deputy National Statistician for the ONS, takes a look at labour market data.
What is happening with the labour market? Our best overall indicator at the moment is the ‘real-time information’ (RTI) data from HMRC. It shows the number of employees on all payrolls in the UK. (1/4)
— Jonathan Athow (@jathers_ONS) August 11, 2020
US-China trade deal negotiations are about to recommence.
"U.S. and Chinese negotiators plan to discuss progress of their trade deal in the coming days, with Beijing pushing to widen the agenda to include Washington’s recent crackdown on businesses including TikTok and WeChat"https://t.co/BoWYvoDF8T
— Jonathan Ferro (@FerroTV) August 12, 2020
New online banks see staggering profits.
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