The Fort Worth Press - New blow for UK's Starmer as growth data disappoints

USD -
AED 3.67302
AFN 68.516082
ALL 88.488842
AMD 386.722527
ANG 1.801019
AOA 943.496392
ARS 966.5043
AUD 1.443305
AWG 1.8025
AZN 1.701488
BAM 1.750799
BBD 2.017743
BDT 119.417415
BGN 1.75224
BHD 0.376774
BIF 2895.95474
BMD 1
BND 1.281879
BOB 6.905442
BRL 5.434702
BSD 0.999293
BTN 83.623375
BWP 13.063406
BYN 3.270372
BYR 19600
BZD 2.014341
CAD 1.350685
CDF 2864.999945
CHF 0.841901
CLF 0.032626
CLP 900.249808
CNY 7.012598
CNH 6.994565
COP 4181.06
CRC 518.669042
CUC 1
CUP 26.5
CVE 98.708239
CZK 22.518991
DJF 177.953433
DKK 6.679725
DOP 60.093636
DZD 132.190851
EGP 48.4007
ERN 15
ETB 117.674046
EUR 0.895795
FJD 2.178702
FKP 0.761559
GBP 0.74729
GEL 2.719895
GGP 0.761559
GHS 15.749096
GIP 0.761559
GMD 68.484438
GNF 8629.409816
GTQ 7.729975
GYD 209.043139
HKD 7.768915
HNL 24.883402
HRK 6.799011
HTG 131.696968
HUF 355.4755
IDR 15128.05
ILS 3.69745
IMP 0.761559
INR 83.781504
IQD 1309.115649
IRR 42104.999913
ISK 135.160172
JEP 0.761559
JMD 157.004042
JOD 0.708698
JPY 141.876005
KES 128.660014
KGS 84.187821
KHR 4057.791981
KMF 441.625023
KPW 899.999433
KRW 1305.780283
KWD 0.30499
KYD 0.832789
KZT 479.3347
LAK 22066.261447
LBP 89489.65616
LKR 298.400308
LRD 193.370215
LSL 17.161464
LTL 2.95274
LVL 0.60489
LYD 4.739994
MAD 9.693668
MDL 17.403253
MGA 4525.150167
MKD 55.179424
MMK 3247.960992
MNT 3397.999955
MOP 8.00231
MRU 39.482047
MUR 45.883085
MVR 15.359879
MWK 1732.805772
MXN 19.697075
MYR 4.104978
MZN 63.875016
NAD 17.161464
NGN 1668.490149
NIO 36.77346
NOK 10.491525
NPR 133.795845
NZD 1.570195
OMR 0.384902
PAB 0.999293
PEN 3.724767
PGK 3.973646
PHP 55.991501
PKR 277.413011
PLN 3.826215
PYG 7800.624838
QAR 3.643696
RON 4.456993
RSD 104.872015
RUB 94.296067
RWF 1351.099732
SAR 3.750897
SBD 8.292444
SCR 14.699015
SDG 601.500572
SEK 10.090385
SGD 1.280025
SHP 0.761559
SLE 22.847303
SLL 20969.494858
SOS 571.126767
SRD 30.700503
STD 20697.981008
SVC 8.744148
SYP 2512.529936
SZL 17.156183
THB 32.247499
TJS 10.638614
TMT 3.5
TND 3.02127
TOP 2.342099
TRY 34.19289
TTD 6.788173
TWD 31.625987
TZS 2730.000168
UAH 41.140016
UGX 3691.734775
UYU 41.923783
UZS 12727.712181
VEF 3622552.534434
VES 36.86248
VND 24571
VUV 118.722009
WST 2.797463
XAF 587.201568
XAG 0.031632
XAU 0.000376
XCD 2.70255
XDR 0.739242
XOF 587.201568
XPF 106.759527
YER 250.325
ZAR 17.04705
ZMK 9001.200967
ZMW 26.427593
ZWL 321.999592
  • RBGPF

    64.7500

    64.75

    +100%

  • CMSC

    0.0300

    25.14

    +0.12%

  • NGG

    -0.3300

    69.73

    -0.47%

  • CMSD

    -0.0300

    25.08

    -0.12%

  • SCS

    0.0400

    13.25

    +0.3%

  • AZN

    -0.5600

    77.62

    -0.72%

  • GSK

    -0.1900

    40.71

    -0.47%

  • BCC

    1.1800

    141.49

    +0.83%

  • RIO

    0.4800

    71.23

    +0.67%

  • BTI

    -0.2369

    36.84

    -0.64%

  • RELX

    -0.5300

    47.56

    -1.11%

  • BCE

    0.3600

    35.19

    +1.02%

  • RYCEF

    0.0100

    7.05

    +0.14%

  • JRI

    0.1200

    13.58

    +0.88%

  • BP

    0.6300

    31.42

    +2.01%

  • VOD

    0.0500

    10.09

    +0.5%

New blow for UK's Starmer as growth data disappoints
New blow for UK's Starmer as growth data disappoints / Photo: © AFP/File

New blow for UK's Starmer as growth data disappoints

Britain's economy grew less than initially estimated in the second quarter, revised official data revealed Monday, dealing another early blow to new Prime Minister Keir Starmer and his Labour government.

Text size:

Gross domestic product (GDP) was 0.5 percent in the April-June period, the Office for National Statistics said in a statement, while economists expected it to have remained at 0.6-percent expansion.

Britain's Labour government has made growing the UK economy a priority after winning national elections at the start of July, but has been knocked off course during its first few months in office by strained economic data and highly-controversial decisions taken by Starmer.

Britain's economy had grown 0.7 percent in the first quarter following a shallow and short-lived recession in the second half of last year.

However, UK inflation remains above the Bank of England's target rate, slowing its journey to cutting interest rates.

Recent data has also showed Britain's state debt rising to 100 percent of annual GDP -- increasing the likelihood of biting tax rises in Labour's maiden budget on October 30, according to analysts.

The government is already facing criticism from all sides over scrapping a winter fuel-benefit scheme for 10 million pensioners.

Over the weekend, meanwhile, Labour reeled from its first resignation, as lawmaker Rosie Duffield quit the party, accusing Starmer of "hypocrisy" over his acceptance of free gifts.

In a blistering resignation letter, Duffield denounced the prime minister for pursuing "cruel and unnecessary" policies.

"The sleaze, nepotism and apparent avarice are off the scale," she wrote, after it emerged earlier this month that Starmer had accepted more than £100,000 ($132,000) in gifts and hospitality.

All of the gifts accepted had been declared and none fall foul of parliamentary rules.

Labour ousted the Conservatives in a landslide election win after 14 years in opposition.

T.Harrison--TFWP