Rolling coverage of the latest economic and financial news
Rachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.
The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced.
With the economy stagnating to start the year, we expect a rebound in February. We don’t discount an upward revision to January GDP either. Our nowcast models point to both a potential upward revision to January and some further upward momentum in February.
What do we see for February GDP? We see GDP expanding by 0.2% m-o-m, lifted by broad-based momentum across the services, production and construction sectors.
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