- Wednesday, 22 November 2017
- News
U.K. Bows to Worsening Economy, More Borrowing as Brexit Nears
U.K. Prime Minister Theresa May’s troubled government resigned itself to a deteriorating economic outlook as it committed 3 billion pounds ($4 billion) to prepare for Brexit and tried to make housing more affordable for the young. In delivering his annual budget on Wednesday, Chancellor of the Exchequer Philip Hammond acknowledged official forecasts which showed Brexit already inflicting an economic cost. The Office for Budget Responsibility predicted growth will now undershoot 2 percent every year through 2021 and it halved its estimate for productivity gains over the next five years.
Read more...
- Monday, 20 November 2017
- News
What to expect from Philip Hammond's Budget this week
Chancellor Philip Hammond will this week deliver his first ever Autumn Budget against a backdrop of slowing economic growth, continued uncertainty about the form Brexit will take, and a government that is so fragile it could collapse any minute. Hammond, who is by nature a conservative chancellor, would almost certainly not have announced any fireworks or some sort of spending bonanza even during strong and stable times, but these three prongs make anything exciting even less likely. Hammond is also likely to be hamstrung by new forecasts from the Office for Budget Responsibility, the independent body, which holds the government to account on matters of spending. Read more...
- Wednesday, 15 November 2017
- News
UK Unemployment Rate unchanged at 4.3%
There were 32.06 million people in work, 14,000 fewer than for April to June 2017 but 279,000 more than for a year earlier. The employment rate (the proportion of people aged from 16 to 64 who were in work) was 75.0%, down slightly compared with April to June 2017 but up from 74.4% for a year earlier. There were 1.42 million unemployed people (people not in work but seeking and available to work), 59,000 fewer than for April to June 2017 and 182,000 fewer than for a year earlier. The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.3%, down from 4.8% for a year earlier and the joint lowest since 1975.
Read more...
- Tuesday, 14 November 2017
- News
UK CPI unchanged in October
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in October 2017, unchanged from September 2017. The inflation rate for food and non-alcoholic beverages continued to increase to 4.1%, the highest since September 2013. Rising prices for food and, to a lesser extent, recreational goods provided the largest upward contributions to change in the rate between September 2017 and October 2017. The upward contributions were offset by falling motor fuel and furniture prices, along with owner occupiers’ housing costs, which remained unchanged between September 2017 and October 2017, having risen a year ago. The Consumer Prices Index (CPI) 12-month rate was 3.0% in October 2017, unchanged from September 2017.
Read more...- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…