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UK Services PMI fell to 55.5 in December

Service sector growth in the UK stabilised at a solid pace in December, according to the latest PMI survey data from Markit and CIPS. Total activity rose at a strong overall rate, supported by a sharp rise in new business. Employment increased at a robust pace, albeit the weakest in five months. That said, growth in recent months has been slower than in the first half of the year and when compared with the trend rates set in 2013-14. 
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UK Current Account deficit unchanged in Q3

The United Kingdom’s (UK) current account deficit was £17.5 billion in Quarter 3 (July to September) 2015, unchanged from a revised deficit of £17.5 billion in Quarter 2 (April to June) 2015. Deficit was expected to increase by £21.6 billion.The deficit in Quarter 3 (July to September) 2015 equated to 3.7% of gross domestic product (GDP) at current market prices, down from 3.8% in Quarter 2 (April to June) 2015. While the total current account balance remained unchanged in Quarter 3 (July to September) 2015 there are equal and offsetting movements in the components. 
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UK Retail Sales increased 1.7%

Compared with October 2015, the quantity bought in the retail industry is estimated to have increased by 1.7%. Analysts were predicting 0.6% increase. Average store prices (including petrol stations) fell by 3.3% in November 2015 compared with November 2014, the 17th consecutive month of year-on-year price falls.  Read more...

UK CPI increased in line with market forecasts

UK Consumer Prices Index (CPI) rose by 0.1% in the year to November 2015, compared with a 0.1% fall in the year to October 2015. This was in line with market expectations. Movements in transport costs and alcohol and tobacco prices were the main contributors to the rise in the rate. Falling clothing prices partially offset the rise. CPIH (not a National Statistic) grew by 0.4% in the year to November 2015, up from 0.2% in October 2015.

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