Britain misses official growth target for 2004
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Britain's economy expanded at a faster than expected rate towards the end of 2004, official figures showed, but growth for the year as a whole just missed government targets at 3.1 percent.
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The Organization for Economic Co-operation and Development (OECD) predicts global economic growth to be at 3.6% in 2004. The OECD lowered its forecast in the wake of a rise in oil prices and drop in consumer confidence.
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UK manufacturers did not raise their prices as much as analysts had forecast in June, official figures show.
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The UK economy grew by 3.1% in 2004  after accelerating in the final three months of last year, according to official figures.
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Britain's trade in goods deficit fell to 4.6 billion pounds (6.58 billion euros, 8.61 billion dollars) in November from a downwardly revised 5.0 billion in October.
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The recent financial markets chaos which plagued banking group Northern Rock could put the brakes on Britain&#39;s economic growth, the OECD warned Thursday.
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The UK is lagging behind other countries on biomass and biofuels, says a parliamentary committee.
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New figures reveal a slowdown in the UK economy in the third quarter, attributed to declining industrial production.
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Britain's economy grew 0.7 percent in the third quarter, according to official data published Thursday.
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Economic growth slowed in the final quarter of 2004 to levels not seen in two years, the Commerce Department said yesterday, capping a nonetheless expansive 12 months for the American economy.
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The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.
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British Chancellor of the Exchequer Gordon Brown warned Friday that a weak growth in the 25-member European Union bloc is endangering the global economy.
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LONDON: A leading business group cut its 2005 forecast for British economic growth yesterday, blaming a combination of high oil and commodity prices, slowing global growth and domestic interest rate rises.
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The UK economy lost momentum in the third quarter but is picking up in the fourth, says Bank of England governor Mervyn King.
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Europe's bigger economies register yet more productivity growth, while the UK starts to fall behind.
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The chances of a recession are low even though UK economic growth will slow sharply, a report says.
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British economic growth slowed considerably in the third quarter of 2004, hit by a poor performance from the industrial sector.