The UK retains a significant, though reduced, fishing industry. [200] According to the government-sponsored Eddington report of 2006, congestion is in danger of harming the economy, unless tackled by road pricing and expansion of the transport network. The real estate and renting activities sector includes the letting of dwellings and other related business support activities. Express. Officials see GDP falling 9.5 percent in 2020, with expectations that unemployment is set to “materially” rise. Registered Address: 32 Old Slip, Suite 803; New York, NY 10005. Key support at 1.1616 – Critical resistance at 1.1823/35. Please authenticate by going to "My account" → "Administration". FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). In 2019, the UK was the fifth-largest exporter in the world and the fifth-largest goods importer. The British Pound subsequently trimmed some of its gains. [40] The UK is one of the most globalised economies,[41] and it is composed of England, Scotland, Wales and Northern Ireland. All rights reserved. [148] European aerospace companies active in the UK include Airbus, whose commercial aircraft, space, helicopter and defence divisions employ over 13,500 people across more than 25 UK sites. Jonathan Athow, deputy national statistician at the ONS, said: "The recession brought on by the coronavirus pandemic has led to the biggest fall in quarterly GDP on record. The Pound’s weakness in... Spot exchange rates: The Pound-Euro rate is 1.08007. [171][172] London is also a major centre for other business and professional services, and four of the six largest law firms in the world are headquartered there. The UK financial services industry added gross value of £116,363 million to the UK economy in 2011. What does a recession mean for the UK? [157] Production is now in decline and the UK has been a net importer of natural gas since 2004. US Dollar Technical Forecast: USD/MYR, USD/IDR, USD/SGD, USD/PHP, Euro Technical Outlook: EUR/USD Bounce Brings Fade Potential. View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/jjWGhpAicR, $Gold appears to be working on that higher-low that I speculated about in the webinar. 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