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....”. The squeeze on consumers was clear in a poll of services firms – the biggest part of the UK economy. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:36 AM
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....The currency rallied on Wednesday when the Bank’s chief economist, Andy Haldane, usually a nailed-on supporter of low rates, said the time was nearing when he might vote for a rise. Despite agreeing with Carney that the UK economy was entering choppy waters during the Brexit negotiations, he warned that without higher interest rates the Bank would be impotent when the next crash came along. ... [Read full article on Guardian ]
Sunday 25th of June 2017 06:00:22 AM
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....“We have spent the last year fighting for the best Brexit deal for working people – one that protects their jobs and their rights at work,” said Frances O’Grady, its general secretary. “A no-deal Brexit would be devastating for jobs and the UK economy – and after the election result, the prime minister has no mandate for it. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:08 PM
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. The governor of the Bank of England has sent the pound higher on the foreign exchanges after he warned that the continued growth in the UK economy would lead eventually to higher interest rates. ... [Read full article on Guardian ]
Wednesday 28th of June 2017 03:15:46 PM
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Latest Finance News related to UK Economy

Pound leaps as Carney says growth will factor in interest rate debate image
Source : Guardian [Read Article] Wednesday 28th of June 2017 03:15:46 PM
. The governor of the Bank of England has sent the pound higher on the foreign exchanges after he warned that the continued growth in the UK economy would lead eventually to higher interest rates. ...
Uber and the ‘brogrammers’ feel the consequences of changing the world image
....The currency rallied on Wednesday when the Bank’s chief economist, Andy Haldane, usually a nailed-on supporter of low rates, said the time was nearing when he might vote for a rise. Despite agreeing with Carney that the UK economy was entering choppy waters during the Brexit negotiations, he warned that without higher interest rates the Bank would be impotent when the next crash came along. ...
One year on from Brexit vote: business's winners and losers image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:08 PM
....“We have spent the last year fighting for the best Brexit deal for working people – one that protects their jobs and their rights at work,” said Frances O’Grady, its general secretary. “A no-deal Brexit would be devastating for jobs and the UK economy – and after the election result, the prime minister has no mandate for it. ...
Bank of England rift as chief economist ponders interest rate rise image
Source : Guardian [Read Article] Wednesday 21st of June 2017 11:09:59 AM
.... “As and when the MPC begins this process of normalising monetary policy, it will be a sign of the economy itself having begun to normalise. Far from being a cause for concern, starting the process of withdrawing some monetary policy insurance should serve as a signal of the MPC’s confidence in the UK economy’s resilience and in inflation returning sustainably to its 2% target. ...
SFO has clear public interest in pursuing Barclays case | Nils Pratley image
....This argument holds that, whatever went on with the bank and Qatar in 2008, the UK Treasury avoided having to fund another expensive banking bailout, to sit alongside those at Royal Bank of Scotland and Lloyds TSB. Wasn’t that a useful development? Wasn’t Barclays, by avoiding part-nationalisation, better able to support the UK economy in the post-crisis years? Hasn’t the world moved on? Isn’t Barclays, nine years and three chief executives later, a very different organisation these days?. ...
UK economy will slow amid Brexit talks and pay squeeze, warns CBI image
Source : Guardian [Read Article] Monday 19th of June 2017 11:01:49 PM
. Business group the CBI has warned the UK economy will shift down a gear as Brexit talks get under way and households are squeezed by rising prices. ...
UK business groups plead for economy to be put first in Brexit talks image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:38:33 PM
.... We have come together to urge the government to put the economy first as it prepares to start formal negotiations on the UK’s departure from the EU,” says the statement from the BCC, CBI, manufacturers’ group EEF, the Federation of Small Businesses and the Institute of Directors. “This is a deal that when finally agreed will matter fundamentally for the UK economy, for UK companies and for citizens of the UK. ...
UK attracts record overseas tourists after pound's Brexit slide image
Source : Guardian [Read Article] Friday 16th of June 2017 11:47:05 AM
.... While traditional holiday destinations have been affected by the fall in sterling, there was a 9% jump in visits to the countries that joined the EU after 2004, such as Poland, Latvia and Hungary. Tourism is worth £127bn annually to the UK economy, said Visit Britain director Patricia Yates. ...
The eurozone must reform or die | Kenneth Rogoff image
Source : Guardian [Read Article] Friday 16th of June 2017 05:00:00 AM
.... For southern Europe as a whole, the single currency has proved to be a golden cage, forcing greater fiscal and monetary rectitude but removing the exchange rate as a critical cushion against unexpected shocks. Part of the reason the UK economy has held up well (so far) since last year’s Brexit referendum is that the pound fell sharply, increasing competitiveness. ...
Bank of England edges closer to increasing UK interest rates image
Source : Guardian [Read Article] Thursday 15th of June 2017 11:11:41 AM
....The five policymakers voting to leave interest rates on hold at June’s meeting, including the Bank’s governor, Mark Carney, appeared to be more worried about a slowdown in consumer spending as households grapple with rising prices and meagre wage growth. Those factors have dented overall growth and left the UK economy trailing behind the world’s other advanced economies and all its European neighbours in the opening months of 2017. ...
Pay squeeze intensifies as wage growth falls further behind inflation image
Source : Guardian [Read Article] Wednesday 14th of June 2017 08:35:03 AM
.... The squeeze is expected to weigh on consumer spending, which has been the key driver of economic growth since the financial crisis. “The UK economy faces a dangerous cocktail of political uncertainty, slowing growth and shrinking real wages,” said Ben Brettell, senior economist, Hargreaves Lansdown. ...
UK employers plan to keep hiring despite Brexit and slow growth image
Source : Guardian [Read Article] Tuesday 13th of June 2017 05:01:47 AM
....A poll of 2,109 employers by recruitment agency ManpowerGroup found that a net balance of 5% were planning to increase staff levels rather than cut them over the July-to-September quarter. That was unchanged from the previous poll three months ago but down slightly from a +7% reading at the end of 2016 when the UK economy was still growing strongly. ...
Moody's warns election result will complicate Brexit talks image
Source : Guardian [Read Article] Monday 12th of June 2017 11:01:40 PM
....In Monday’s update, it said recent political developments were “credit negative” given that the government was likely to put plans to cut the deficit on hold. Economic indicators in the months following the referendum suggested businesses and consumers had shrugged off the result and the UK economy was one of the best performers among its peers in 2016. ...
Bosses are right: political uncertainty will damage the economy | Nils Pratley image
. “It is hard to overstate what a dramatic impact the current political uncertainty has on business leaders, and the consequences could – if not addressed immediately – be disastrous for the UK economy,” says Stephen Martin, director general of the Institute of Directors, pointing to a poll of members that showed 57% were quite or very pessimistic about the economy over the next 12 months. ...
Bad EU trade deal 'disastrous' for UK jobs, investment and growth image
Source : Guardian [Read Article] Monday 12th of June 2017 01:07:11 PM
....The study came as the first poll of UK business leaders since the election found a plunge in confidence in the economic outlook and concern over the make up of the government. The survey of almost 700 members of the Institute of Directors found 65% believed uncertainty over the makeup of the government was “a significant concern” for the UK economy. ...
UK household spending falls for first time since 2013 image
Source : Guardian [Read Article] Monday 12th of June 2017 04:30:17 AM
....Visa, the credit and debit card processing business, said its vast database of spending patterns shows there was a drop in spending across a broad range of categories last month, including clothing, household goods, food and transport. That chimes with recent signs the UK economy is struggling to eke out growth this year and has fallen behind its peers as the effects of last summer’s Brexit vote start to bite. ...
Clouds gather over UK economy as data points to lacklustre growth image
Source : Guardian [Read Article] Friday 9th of June 2017 03:49:32 PM
....Manufacturing output and broader industrial output made only small gains in April, dashing economists’ forecasts for a rebound for the economy after a slow start to 2017, which has put the UK at the bottom of the European growth league. The figures painted a picture of a “somewhat precarious UK economy”, said Jack Coy at the Centre for Economics and Business Research consultancy. ...
What are the markets telling us about the election? image
Source : BBC [Read Article] Friday 9th of June 2017 11:36:19 AM
....Think of the value of the pound as the UK's share price. When it falls against other currencies, that reflects a lack of confidence in the UK economy by investors around the world. ...
UK industrial output weaker than expected image
Source : BBC [Read Article] Friday 9th of June 2017 10:05:52 AM
....2%, driven by falls in energy and manufacturing. That backs up the picture of the UK economy losing momentum in the first few months of the year. ...
Pound sinks but FTSE 100 climbs after shock election result image
Source : Guardian [Read Article] Friday 9th of June 2017 08:22:37 AM
. The pound slumped and shares in major banks, housebuilders and construction companies tumbled after the shock election result raised questions over the pace of Brexit talks and prospects for the UK economy. ...
Business and City leaders call for reassurance image
Source : BBC [Read Article] Friday 9th of June 2017 08:06:32 AM
....Politicians must act fast to reassure businesses in the wake of the election result, according to business leaders. The result is a "serious moment for the UK economy", the CBI business lobby group said, and called for politicians to form a "functioning government". ...
UK economy falls to bottom of EU growth league image
Source : Guardian [Read Article] Thursday 8th of June 2017 05:33:45 PM
. The UK economy was the worst performer in the European Union in the opening months of 2017 as the Brexit vote took its toll, according to official statistics that underscore the challenge facing the next British government. ...
Markets edge down as fears surface on size of Tory majority image
Source : Guardian [Read Article] Thursday 8th of June 2017 04:46:15 PM
....Marc Ostwald of ADM Investor Services said even if May ends up back in No 10, she has a tough job ahead of her: “Even if a substantially larger majority is achieved, there is little doubt that it will make not an iota of difference to the EU’s stance on Brexit negotiations, though it will heighten the risk that both sides continue to talk at, rather than to each other, and end in a complete breakdown. “There is also little doubt that the UK economy is now facing some significant headwinds, above all consumers that are facing higher inflation, weak wage growth and the pressures associated with a far too rapid pace of credit growth, the more so given an increasingly soggy housing market, above all in the populous south-east. ...
Austerity has strangled the British economy. Only Labour gets this | Joseph Stiglitz image
.... I’ve been impressed with how the party proposes to finance its plans: it’s not on the basis of “magic money”, but on carefully thought-out proposals based on taxing those at the top and ensuring that corporations pay what they should. The evidence shows that these actions will not slow down growth but will help strengthen the UK economy. ...
OECD predicts fastest global growth in six years image
Source : BBC [Read Article] Wednesday 7th of June 2017 09:21:03 AM
....Growth continues to fall short of rates seen before the 2008-09 financial crisis. On the UK economy, the OECD said it will slow in the coming years as Brexit uncertainty hampers growth and consumers endure a spending squeeze caused by higher prices and lower wages. ...
China's HNA: The biggest company you've never heard of image
Source : BBC [Read Article] Tuesday 6th of June 2017 02:52:26 PM
....One of its major deals last year was to acquire two large buildings in London's Canary Wharf. That deal was shortly before the Brexit vote, but Mr Tan says he continues to see strengths in the UK economy. ...
UK households cut back as Brexit effect on pound hits living costs image
Source : Guardian [Read Article] Tuesday 6th of June 2017 05:01:14 AM
....Uncertainty about the outcome of Thursday’s election was also cited as a factor as the reports showed a drop in retail sales, a slowdown for the vast services sector and a fall in new car sales last month. They provided the latest signs that while manufacturers have picked up steam in recent months, those firms that rely on household spending have struggled, boding ill for the UK economy’s overall prospects this year. ...
EY report: Scottish economy 'stuck in slow lane' image
Source : BBC [Read Article] Monday 5th of June 2017 11:23:30 PM
....Scottish Conservative economy spokesman Dean Lockhart said: "This is another damning report that shows just how much harm has been caused by the SNP's handling of our economy. "While the rest of the UK economy grows we are on the verge of a recession, and these figures confirm that we are stuck in the 'slow lane'. ...
Nearly 10 million Britons are in insecure work, says union image
Source : Guardian [Read Article] Monday 5th of June 2017 06:01:45 AM
....A year ago, Citizens Advice warned that families were struggling to manage budgets and plan for the future as it estimated that a sixth of workers in England and Wales were insecurely employed. Roache said workers were likely to suffer more if the UK economy slowed further, and the Treasury was being deprived of tax receipts. ...
Manufacturing 'buoyant' but services slow, surveys find image
Source : BBC [Read Article] Sunday 4th of June 2017 11:05:12 PM
. The UK economy "regained some momentum" last month but the election and a spending squeeze weighed on the services sector, a survey has found. ...
Disappointing US jobs figures knock markets off peak image
Source : Guardian [Read Article] Friday 2nd of June 2017 05:47:06 PM
....25% set by the Bank of England. With only a week to go before the UK election and three weeks before the start of Brexit negotiations, Capital Economics said the FTSE 100 and UK economy were in for a bumpy ride. ...
UK comes bottom of G7 growth league as Canada takes lead image
Source : Guardian [Read Article] Wednesday 31st of May 2017 04:28:02 PM
....Canada was the final member of the G7 to report its growth figures, which confirmed the UK as officially the joint worst performing member so far this year. The announcement marked a significant decline for the UK economy, which a year ago was outshining Germany, the US and Japan. ...
How has the Brexit vote affected the UK economy? May verdict image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:15:32 AM
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UK economy slows more than expected as inflation hits spending image
Source : Guardian [Read Article] Thursday 25th of May 2017 09:24:06 AM
. The UK economy slowed even more sharply than first thought in the opening months of this year as rising prices in the wake of the Brexit vote took their toll on consumer spending. ...
UK economic growth estimate revised down image
Source : BBC [Read Article] Thursday 25th of May 2017 08:49:40 AM
Oil bosses have given £390,000 to Tories under Theresa May image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 05:00:43 AM
....It says: “Other industries, like the oil and gas sector, are transforming. The North Sea has provided more than £300bn in tax revenue to the UK economy and supports thousands of highly skilled jobs across Britain. ...
Price rises caused by Brexit a big worry for UK consumers, survey finds image
.... The research (from an online poll of 2,000 people aged 16 and over) was carried out in February before Theresa May called the snap general election. But as many as 81% of UK consumers are concerned about the future health of the NHS, while 68% are worried about the UK economy and 67% are nervous about the state of the environment. ...
Lloyds should give the backslapping a rest after sale of government stake | Nils Pratley image
.... Something along these lines: “We thank the government and UK citizens for their support over the last nine years. The bank learned the lessons of the crisis many years ago and we’re sticking to our plan to support the UK economy. ...
UK inflation: How could latest figures impact an international property purchase? image
.... . As the UK’s services sector accounts for such a significant proportion of total GDP, weakness in this area could lead the UK economy into trouble as the year continues. ...
Energy price rises help drive UK inflation up to 2.7% image
Source : Guardian [Read Article] Tuesday 16th of May 2017 09:04:59 AM
....“The Bank of England will most likely sit tight on interest rates through 2017 and 2018 – and very possibly well beyond. “We suspect it will end up remaining tolerant on the inflation overshoot given likely limited UK growth and the prolonged, highly uncertain outlook that the UK economy will face as the government negotiates the exit from the EU,” he said. ...
FTSE 100 closes at another record high image
Source : BBC [Read Article] Monday 15th of May 2017 08:08:53 AM
...." . "Things may be getting tougher for the UK economy this year as rising inflation and weak wage growth look set to dent consumer demand, but the Footsie dances to a different tune because so many of the companies within it are global businesses, and thus not overly reliant on domestic conditions. ...
Brexit slowdown fears as industrial output falls and trade deficit grows image
.... Construction followed, but industrial production and manufacturing have yet to fully recover, with output still below pre-crisis levels. Howard Archer, the chief UK economist at IHS Markit, said it was “a ropey set of March data for the UK economy that point to a poor end to a disappointing first quarter”. ...
UK industrial output falls in March image
Source : BBC [Read Article] Thursday 11th of May 2017 09:23:23 AM
....". Howard Archer, chief UK and European economist at IHS Markit, described the figures as "a ropey set of March data for the UK economy that point to a poor end to a disappointing first quarter". ...
Why has the pound shrugged off Theresa May's EU argy-bargy? | Nils Pratley image
....Are currency markets living in a different galaxy, as they say in Brussels? A single dinner at Downing Street has provoked verbal warfare between Theresa May and her EU negotiating partners-cum-foes, seemingly increasing the chances of a hard Brexit that almost everybody agrees would be bad news for the pound. Meanwhile, we learned last week that growth in the UK economy slowed sharply in the first three months of this year as inflation started to bite. ...
UK economy gets boost as service sector growth hits four-month high image
Source : Guardian [Read Article] Thursday 4th of May 2017 11:14:24 AM
. The UK economy has shown signs of picking up over recent weeks as strong demand from overseas helped offset moribund consumer spending at home, according to a survey that will welcomed by Theresa May’s government as next month’s election approaches. ...
UK service sector growth picks up in April image
Source : BBC [Read Article] Thursday 4th of May 2017 09:49:29 AM
....However, Markit said prices charged by service sector firms rose at their fastest rate since July 2008. The services sector accounts for about three-quarters of the UK economy. ...
Sainsbury’s warns over pay squeeze as profits slide image
Source : Guardian [Read Article] Wednesday 3rd of May 2017 10:02:09 AM
....“General merchandise and clothing sales growth have been impacted by reduced consumer confidence and a marked slowdown in real pay growth. Economic commentators are divided on the implications for the UK economy, but there are fears that this slowdown in real income might drive a reduction in GDP growth, an increase in unemployment and a reduction in the rate of unsecured credit growth,” the company said in a statement. ...
Is NOW the right time to sell your foreign property? image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 12:00:00 AM
....But if you were thinking of taking advantage of the weaker pound and selling your foreign property, is now the right time to make the move?. In the immediate aftermath of the referendum, economic forecasters predicted a marked slowing of the UK economy and a steep, steady decline in pound exchange rates. ...
UK manufacturing records fastest growth for three years, figures show image
....Britain’s factories enjoyed their fastest growth for three years last month on the back of strong demand at home and abroad, according to a survey that will temper worries about a Brexit-driven economic slowdown this year. The manufacturing sector, which makes up about a tenth of the UK economy, enjoyed the strongest pick-up in new work since the start of 2014 and smashed expectations in April. ...
UK manufacturing growth at three-year high, survey suggests image
Source : BBC [Read Article] Tuesday 2nd of May 2017 09:23:58 AM
....". Official figures from the Office for National Statistics last week indicated that the UK economy grew by just 0. ...
British consumers' confidence slumps as inflation grows image
Source : Guardian [Read Article] Friday 28th of April 2017 06:01:03 AM
.... A weaker currency makes imports to the UK such as food and fuel more expensive. Wage growth has fallen behind inflation, leaving people worse off in real terms and denting consumer spending, a key driver of the UK economy. ...
Will Lloyds chief enjoy plain sailing or will he jump ship? | Nils Pratley image
....If Horta-Osório stays, his next three-year plan, due to be unveiled in the autumn, will be the easiest to write. Brexit-related uncertainties are a background worry since Lloyds is a proxy for the performance of the UK economy, but the major restructuring is over. ...
Lloyds Bank's profits rise despite 'challenging' times image
Source : BBC [Read Article] Thursday 27th of April 2017 06:33:36 AM
....4% when it was bailed out by the taxpayer at the height of the financial crisis. Analysts said the firm was exposed to record low interest rates, which make it harder for banks to increase profits, and the health of the UK economy. ...
Lloyds profits double to £1.3bn despite PPI and fraud payouts image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:33:22 AM
....The bank, which is Britain’s largest mortgage lender, shrugged off the uncertainty created by Brexit and what António Horta-Osório, chief executive, described as a “challenging” operating environment. “The UK economy continues to benefit from low unemployment and reduced levels of indebtedness, and asset quality remains strong and is stable across the portfolio. ...
Costa Coffee owner welcomes plan for 'barista visas' after Brexit image
Source : Guardian [Read Article] Tuesday 25th of April 2017 12:20:58 PM
....But she added that it would take many months for formal proposals to emerge. She noted the importance of the hospitality industry to the UK economy – it is the fourth largest industry, accounts for 10% of GDP and employs 5 million people. ...
How has the Brexit vote affected the UK economy? April verdict image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:39:05 AM
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Brexit economy: living standards are falling as the snap election looms image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:38:58 AM
....The pound’s sharp fall since the Brexit vote and a mood of uncertainty among employers has hit household budgets, creating a tough economic backdrop for Theresa May’s snap election, a Guardian analysis shows. The prime minister will be hoping the resilience seen in the UK economy will hold over the coming months now that she has called an election for this June. ...
Diesel vehicles important for UK economy, says industry image
Source : BBC [Read Article] Monday 24th of April 2017 11:39:01 PM
....The motor industry's fight-back against growing opposition to diesel has moved up a gear with a strong defence of commercial vehicles. The industry's trade body has warned people not to ignore the "essential role" diesel commercial vehicles play in keeping the UK economy moving. ...
Inflation puts the brakes on Britain's economic activity image
Source : Guardian [Read Article] Monday 24th of April 2017 06:00:04 AM
....This meant that real wages – adjusted for inflation – fell in February for the first time in two and a half years, even though unemployment continues to drop and vacancies are at record levels. Howard Archer, the chief European and UK economist at consultancy IHS Markit, said: “Following the likely marked first quarter slowdown, we suspect that 2017 will become even more challenging for the UK economy – and particularly for consumers as their purchasing power is squeezed harder still. ...
George Osborne: history will not be kind to a man whose flaws led to Brexit image
....By halfway through the 2010-15 parliament, Osborne was in a spot. He had claimed – correctly – that the UK economy had been too dependent on debt in the years before the crisis, but now found that the economy was flatlining. ...
IMF says pace of global economic growth is picking up image
Source : BBC [Read Article] Tuesday 18th of April 2017 01:01:41 PM
....3%. The revision for the UK reflects what the report calls the "stronger-than-expected performance of the UK economy since the June Brexit vote". ...
IMF ratchets up UK economic growth forecast to 2% image
Source : Guardian [Read Article] Tuesday 18th of April 2017 01:00:29 PM
....9 percentage point upward revision to the 2017 forecast and the 0. 2 percentage point downward revision to the 2018 forecast reflect the stronger-than-expected performance of the UK economy since the June Brexit vote, which points to a more gradual materialisation than previously anticipated of the negative effects of the United Kingdom’s decision to leave the European Union,” the IMF said. ...

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