Great Britain’s economy shows stagnation in January

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The economy of Great Britain remained unchanged in January compared to a month earlier. The British National Statistical Office reported this. Economists generally expected the economy to grow by 0.2 percent on a monthly basis, after a plus by 0.3 percent in December.

The British central bank came earlier in the day with an interest rate cut and other measures to stimulate growth. The economy of Great Britain is hampered by the negative effect of the new corona virus. The Bank of England (BoE) said it would do everything to help the economy.

There were also figures on industrial production in the United Kingdom. That fell by 0.1 percent in January, while a plus of 0.3 percent was expected. Furthermore, construction production in the United Kingdom decreased by 0.8 percent.

About the author

Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

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