The UK economy recovered at a stronger pace in the second quarter as the easing of coronavirus restrictions boosted consumer spending, the first quarterly estimates from the Office for National Statistics showed on Thursday. Gross domestic product grew 4.8 percent sequentially in the second quarter, reversing a 1.6 percent fall in the first quarter. The rate matched economists' expectations.Noneth...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.