Rolling coverage of the latest economic and financial news, as UK economic recovery stalls
- Full story: UK economic recovery stalled in July amid worker shortages
- BREAKING: UK GDP rose just 0.1% in July
- UK exports to EU countries fell
- Service sector and manufacturing stalled
- Capital Economics: rising virus cases and shortages stall recovery
- ONS: staff shortages a factor
- Construction output fell as firms struggle to source raw materials
- Introduction: UK’s July GDP report
Back in the UK, the consumer watchdog has called for much tougher government vetting of private companies selling Covid-19 tests to travellers, following revelations about poor service from “rogue” operators that it said had resulted in a lottery for customers.
The Competition and Markets Authority (CMA) said the market for PCR tests, in which private businesses apply for inclusion on a government-approved list, was not working and risked causing a “race to the bottom” among companies touting for customers.
Related: UK watchdog calls for much tougher vetting of Covid PCR test firms
In Canada, the unemployment rate has fallen to 7.1% after firms created an extra 90,200 jobs in August.
BREAKING: Statistics Canada says employment rose by 90,000 (+0.5%) in August, the third consecutive monthly increase.
The unemployment rate fell 0.4 percentage points to 7.1%.
#BreakingNews
-Canada adds 90,200 jobs in August (est. up 60,000)
-Unemployment rate at 7.1% vs 7.5% in July
-Full time jobs up 68,500
-Part time jobs up 21,700
(source; Bloomberg/Stats Canada)