Thank you for your participation. Britain is at risk of recession after revised official figures showed the economy contracted in the third quarter.
The National Bureau of Statistics announced that GDP decreased by 0.1% in the three months to September.
Two consecutive quarters of recession are defined as a technical recession. The UK started the fourth quarter with negative growth of her 0.3% in October.
5 things to start your day
1) Hunt hints at spring tax cuts if UK debt falls | Economists predict the Chancellor has more than £10bn of fiscal room to adjust
2) The war on landowners has backfired – and the British are paying the price | Public hostility towards the ‘modern-day bogeyman’ has reached breaking point
3) Heir to the throne prepares to step down as Hollywood’s streaming wars turn ugly | It is speculated that the billionaire tycoon is considering selling his 77% controlling stake
Four) China blocks exports of rare earth technology after lawmaker warns Beijing is ‘weaponizing’ supplies | The move follows Western efforts to restrict the country’s access to microchip technology
Five) Patrick Minford: “The Laffer Curve is about to blow up the SNP” | The decision to introduce a top tax rate of 48% will bring in only a small amount of money
what happened overnight
Stocks rose mainly in Asia as Wall Street recouped most of its steep losses from the previous day following some strong profit reports.
Japan’s core inflation rate fell to 2.5% in November from 2.9% the previous month as energy costs eased. The decline could contradict expectations that the central bank will tighten its accommodative monetary policy in the coming months.
Bank of Japan officials said they want to make sure that inflation remains near the 2% target level and that wages are rising before adjusting the central bank’s long-standing benchmark interest rate of -0.1%. There is.
As overseas markets entered the holiday season, the Tokyo stock market narrowed its early gains and closed slightly higher.
The benchmark Nikkei 225 index rose 0.1%, or 28.58 points, to end at 33,169.05, while the broader Topix index rose 0.5%, or 10.45 points, to 2,336.43.
Seoul’s Kospi added 0.4% to 2,609.54. Hong Kong’s Hang Seng Index fell 0.4% to 16,548.98, while the Shanghai Composite Index rose 0.5% to 2,933.25. In Sydney, the S&P/ASX 200 rose 0.1% to 7,510.90.
Bangkok’s SET fell 0.3% and Mumbai’s Sensex rose 0.3%.
Wall Street stocks resumed their rise on Thursday. The Dow Jones Industrial Average, made up of 30 major U.S. companies, rose 0.9% to close at 37,404.35 points, while the broader S&P 500 index rose 1% to 4,746.75 points. Meanwhile, the technology-heavy Nasdaq Composite Index rose 1.3% to 14,963.87.
The yield on the benchmark 10-year U.S. Treasury note rose 1.5 basis points to 3.892% from 3.877% late Wednesday.