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The revision means Britain is no longer the worst-performing economy among Group of Seven developed countries, when comparing GDP in the summer of with its level at the end of It is now tied with Germany and above Italy. The figures provided a more complete picture of Britain's swift economic bounce-back from its coronavirus lockdown earlier this year, but there are now signs of a loss of momentum due to shortages of supplies and staff as the global economy reopens.
On Wednesday, BoE Governor Andrew Bailey said he thought the economy would regain its pre-pandemic level of output in early - a month or two later than the BoE had forecast in August.
The savings ratio, which measures the income households saved as a proportion of their total available disposable income, fell to Governor Andrew Bailey says households are feeling the effects of growing inflation. By Faisal Islam. Economics editor. Why Governor Andrew Bailey is watching carefully the impact of climate change on higher prices. Consumers are buying gifts earlier than usual after last year's lockdown, retailers say.
The Bank signals it will raise interest rates in "coming months", but holds off on an immediate increase. By Ben King. The Bank Rate is one of the main tools used to keep the economy growing steadily. By Robert Plummer. Policymakers could increase interest rates from their historic low of 0.
BBC News. Companies must outline how they aim to meet the UK's net-zero target, under government plans. Will financial carrot or regulatory stick work better in persuading investors to support reducing carbon emissions? The UK's independent forecaster warns household finances will not return to levels for two more years. By Paige Neal-Holder. Commuting has increased since August, but is at significantly lower levels than two years ago. By Egon Cossou,.
One worker in seven has caring duties on top of their job - and some face huge challenges from both.
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