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AUN News: Your Source for Inclusive Global News

AUN News is a leading media channel dedicated to delivering impactful information on public policy. We focus on amplifying the voices of deprived and marginalized stakeholders, ensuring inclusiveness in the policy-making process to achieve the United Nations Sustainable Development Goals (SDGs) .

Our Commitment to Global News Coverage

With a network of committed journalists, editors, and broadcasters, AUN News covers essential topics affecting governance, development, and social affairs across the Americas, Europe, Africa, the Middle East, Asia, Oceania, and beyond. Our dedication to inclusiveness drives us to provide authentic and credible reporting on critical areas such as:

  • International Trade & Commerce
  • International Relations and Politics
  • International & Regional Cooperation Mechanisms
  • Art and Culture
  • Conflict: Causes, Effects, Regulations
  • Democracy and Civil Rights
  • Environmental Laws and Global Concerns
  • Labour, Migration, and Trafficking Issues

Stay Informed with AUN News

Our expert team provides accurate, unbiased reporting and analysis, ensuring that you remain informed on crucial issues. We cover various topics, including International Relations, Environment Laws, and more, helping you grasp complex global dynamics.

Expert Analysis and Insightful Commentary

At AUN News, we offer insightful analysis and commentary from experts in Political Science, Fact-Checking, Investigative Reporting, and Policy Advocacy. Our diverse perspectives help readers understand and engage with intricate issues affecting public policy.

Join Our Engaged Community

Become a part of our community by joining the conversation on pressing global issues. Share your thoughts, connect with like-minded individuals, and engage in meaningful discussions on topics that matter to you.

Our Dedication to Social Justice

AUN News is committed to promoting social justice and grassroots advocacy. We focus on Democracy, Civil Rights, Labour, Migration, and Trafficking Issues to raise awareness and stimulate change in our communities.

Fact-Based Reporting

Our dedication to fact-based reporting ensures that readers receive accurate information to make informed decisions about issues that affect their lives. We strive for integrity and transparency in all our reports.

Connect with AUN News

Join us today to start receiving our informative content. Stay updated on vital issues and become part of the AUN News community. Engage with others, share your opinions, and contribute to discussions that impact society.

Our Mission

At AUN News, we strive to build a more inclusive world. We support businesses, policymakers, civil society, and international news outlets in championing inclusive policies and achieving Sustainable Development Goals. Our mission is to ensure everyone has a voice in the policy-making process.

Why AUN News Exists

We are driven by a belief in inclusiveness and the Sustainable Development Goals. AUN News amplifies marginalized voices in the policy-making process, recognizing their vital role in shaping effective policies. We are the broadcasting arm of the Advocacy Unified Network, headquartered in The Hague, Netherlands, with offices in New York, Durban, London, and Singapore.

Britain’s economy shrank in the second quarter, as forecasts for the future became bleaker

Date:

Britain's economy shrank in the second quarter, as forecasts for the future became bleaker

Source: AUN News

The British economy contracted slightly in the second quarter, losing momentum as the country faces a worsening cost-of-living crisis, with economists predicting a recession later this year.

According to the Office for National Statistics, GDP fell 0.1 percent from April to June compared to the previous quarter, when the economy grew 0.8 percent. The most significant drag on growth in the second quarter was a decrease in health services as pandemic measures such as coronavirus testing and vaccine administration declined. Growth in consumer-facing services such as travel agencies, restaurants, and hotels, as well as spending related to the Queen’s Platinum Jubilee, only partially offset this.

Britons face a bleak prospect of stagnant or declining economic growth combined with one of the highest inflation rates among rich-economy peers. In June, inflation reached 9.4 percent, the highest level in 40 years, but it is not expected to reach 13 percent until October. The Bank of England, which has been steadily raising interest rates since December in an attempt to slow the country’s rapid price rises, predicted last week that the government would enter a prolonged recession at the end of the year, from which it would not emerge until the beginning of 2024.

High inflation squeezes household budgets and is expected to result in a sharp decline in consumer spending, which is usually a significant driver of economic growth. At the same time, soaring energy prices are also a business constraint. Household income, adjusted for inflation and taxes, is expected to fall sharply this year and next, the central bank said, in the worst decline since records began in the 1960s.

British households, in particular, are bracing for unsettlingly high energy bills. When the government price cap is reset in October, it could be 3,500 pounds ($4,256) per year, three times the amount a year ago. However, the consequences of high inflation are already visible: Consumer spending fell 0.2 percent in the second quarter after accounting for price increases.

Global Financial Institutions

Worldwide, warnings about low growth and high inflation are being issued. The International Monetary Fund warned late last month that the world is “on the verge of a global recession.”The United States economy also contracted in the second quarter, following a decline in the first, sparking a debate about whether the country was already in a recession.

Business activities

The British economy is suffering from the pandemic’s aftereffects and the financial fallout of Russia’s invasion of Ukraine. Growth was hindered in the second quarter by declining wholesale and retail business operations. Companies reported that supply chain disruptions were still a problem and that consumers were cutting back on their spending to deal with the rising cost of living, which led to a decline in retail sales.

According to the National Institute of Economic and Social Research, the British economy is already in a recession. This emphasizes how difficult the competition is for the position of the next prime minister, which will be decided by the end of next month. As Britain’s economic prognosis worsens, Rishi Sunak, a former chancellor of the Exchequer, and Liz Truss, the foreign secretary, have disagreed on the best strategy for supporting more households through tax cuts or direct payments.

Analysis by: Advocacy Unified Network

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