All news on the topic: GDP

Britain’s economy could be sent into a recession next year if the crucial Strait of Hormuz remains closed into 2027 amid a prolonged Iran war, according to a report.

Prime minister Andy Burnham has declined to commit to the UK increasing its defence spending to 3 per cent of GDP by 2030.

The economic fallout from the Iran war will hit the UK the hardest out of all the world’s advanced economies, the International Monetary Fund (IMF) has warned.

The UK economy stagnated in July as the largest decline in the manufacturing sector in a year countered a strong month in retail.

The Bank of England has cut the interest rate to its lowest level in over two years.

Bloomberg Economics reports that a full-scale Russian war against Europe could decrease global GDP by $1.5 trillion.

Boris Johnson has stated on LBC that the UK ought to pledge to allocate 3% of GDP to defense and dedicate up to 10,000 troops to Ukraine to establish a "deterrent force" in the country, prior to Keir Starmer’s visit to Washington.

Gen Lord Richard Dannatt warns that the strategic review risks being ‘hollow’ and a ‘failure’ if spending is not increased.

Germany’s economy is back on the brink of recession. However, the Eurozone economy grew more than expected in the second quarter.