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...
In March 2025, the UK economy unexpectedly contracted by 0.1% in January. Stocks and the euro jumped following a German debt deal. Other key events included: Wall Street rallied but was set for its fourth week of losses, Merz declared "Germany is back" after securing a debt deal, the US sought eggs from Denmark, a Canadian steel town felt the impact of Trump's tariffs, European stocks and the euro rallied due to the German debt deal, gold broke through $3,000, Tesla warned the US government about trade war impacts, global stocks were on track for their worst week since September, and German inflation dipped to 2.6%.
