UK economy unexpectedly contracts by 0.1% in January in blow to the chancellor ahead of spring statement; Friedrich Merz declares: ‘Germany is back’Let’s look at the GDP figures in more detail.The 0.9% drop in production output in January, which came after 0.5% growth in December, was mainly caused by a 1.1% slump in manufacturing while mining and quarrying also declined. Basic metals and metal products were down along with pharmaceutical products. Continue reading...
The UK economy unexpectedly shrank by 0.1% in January. Stocks and the Euro jumped following a German debt deal. Friedrich Merz declared "Germany is back". Other key events included Wall Street rallies, a weak Michigan consumer sentiment survey, the US searching for eggs in Denmark, Canadian steel town affected by Trump's tariffs, European stocks rallied, gold broke through $3,000, Tesla warned the US government about Trump's trade war, and German inflation dipped.
