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....8bn in the first quarter of 2017, according to the UK Finance data published on Monday. “Despite a relatively low rate of economic growth and weak consumer confidence, the second quarter of the year recorded robust growth in card spending,” the report said. ... [Read full article on Guardian ]
Monday 21st of August 2017 05:09:55 PM
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.... And they could be right. In New Zealand, the abolition of subsidies in 1984 helped to catalyse innovation and diversification in the agricultural sector, which today drives New Zealand’s economic growth. ... [Read full article on Guardian ]
Thursday 17th of August 2017 07:21:07 AM
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....2bn for the April to June period. VisitBritain’s strategy director, Patricia Yates, said: “Tourism is one of Britain’s most valuable export industries and this continued growth demonstrates the industry’s increasing importance as a key driver of economic growth across our nations and regions. ... [Read full article on Guardian ]
Friday 18th of August 2017 04:16:40 PM
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Latest Finance News related to Economic Growth

UK credit and debit card spending ​growing​ at fastest rate since 2008 image
....8bn in the first quarter of 2017, according to the UK Finance data published on Monday. “Despite a relatively low rate of economic growth and weak consumer confidence, the second quarter of the year recorded robust growth in card spending,” the report said. ...
Weaker sterling attracts record number of foreign tourists to UK image
Source : Guardian [Read Article] Friday 18th of August 2017 04:16:40 PM
....2bn for the April to June period. VisitBritain’s strategy director, Patricia Yates, said: “Tourism is one of Britain’s most valuable export industries and this continued growth demonstrates the industry’s increasing importance as a key driver of economic growth across our nations and regions. ...
Brexit is a chance for farming reform – but we must get the policy right | Ngaire Woods image
.... And they could be right. In New Zealand, the abolition of subsidies in 1984 helped to catalyse innovation and diversification in the agricultural sector, which today drives New Zealand’s economic growth. ...
Forget GDP – there’s more to Britain’s wealth than its bank balance | Julian Baggini image
....How is this possible? Because “a lot of improvements in standard of living come not through what we normally consider as growth, but through technological improvements”. This is a concrete example of real growth without what is normally understood by economic growth. ...
Japanese economy posts longest expansion in more than a decade image
Source : Guardian [Read Article] Monday 14th of August 2017 02:23:48 AM
....Faster growth could prompt the Bank of Japan to consider ending its quantitative easing bond buying programme, but the stimulus package is not expected to be removed entirely until 2021 to help encourage sustainable levels of growth. “Even with continued strong economic growth, we believe that the BoJ will continue its easing framework for some time yet,” said Takuji Aida and Arata Oto at Société Générale. ...
‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing image
....It has a knock-on effect across the market, and is thought to be a factor behind record low levels of homes for sale. An anonymous Cabinet minister told the Telegraph the tax could have "a big implication in terms of economic growth". ...
UK consumers cut spending on clothes, cars and foreign travel image
Source : Guardian [Read Article] Sunday 6th of August 2017 11:01:05 PM
....The leisure sector is likely to have benefited from an early surge in summer staycations. Last month the chancellor, Philip Hammond, admitted that the country’s slowing economic growth was down to the squeeze on the cost of living caused by more expensive imports. ...
Only a big-spending budget can save us from years of low interest rates image
Source : Guardian [Read Article] Saturday 5th of August 2017 04:00:16 PM
....The National Institute of Economic & Social Research said the only therapy would be a rise in interest rates and quickly. Jagjit Chadha, the organisation’s director, warned that without higher rates the interbank lending system that lubricates the billions of transactions in financial markets and which seized up in the credit crunch would remain sclerotic and economic growth would stay anaemic. ...
Why Trumponomics cannot make America great again image
Source : Guardian [Read Article] Friday 4th of August 2017 09:40:46 AM
.... Because the US Senate’s budget-reconciliation rules require all tax cuts to be revenue-neutral after 10 years, Republicans will either have to cut tax rates by far less than they had originally intended, or settle for temporary and limited tax cuts that aren’t paid for. To benefit American workers and spur economic growth, tax reforms need to increase the burden on the rich, and provide relief to workers and the middle class. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
....As Cameron, the son of a wealthy stockbroker, knew well, Britain is still home to plenty of neoliberalism’s beneficiaries: hedge funders, homeowners with the right kind of property, disproportionately rewarded “top talent” from footballers to management consultants, and companies built on cheap labour and loose regulation. They will not give up their supremacy easily, and after Brexit, a Tory government – or a Labour one – might be desperate for economic growth from any source. ...
Eurozone economy grows twice as fast as UK's, figures show image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:07:04 PM
....He highlighted particularly solid growth in UK exports, which have been made more competitive by the pound’s sharp drop after the Brexit vote and have benefitted from a strengthening global economy. “Although the exchange rate remains a key driver of export growth, manufacturers also benefitted from stronger economic growth in key markets in the euro area, North America and Asia-Pacific regions,” Dobson said. ...
How about a little accountability for economists when they mess up? | Dean Baker image
.... This is not the first time that I had a problem with making arguments that were too simple. Back at the time of the debate over President George W Bush’s social security privatization plan, I pointed out that his administration’s assumed rates of return in the stock market were impossible given the current price-to-earnings (P/E) ratios in the market and the economic growth rates assumed by the social security trustees. ...
The UK ignores China's trillion-dollar Belt and Road plan at its peril | Colin Cram image
.... The M6 is hopelessly overloaded, while the business case for the proposed upgrade of the key trans-Pennine route between Sheffield and Manchester, with its mile-long queues for much of the day, was proposed in 1960 and is hopelessly out of date. It assumes traffic growth of only 3-6% in four years, below the forecast economic growth. ...
Race for political centre is futile, Labor needs to be more progressive | Greg Jericho image
....In effect, the debate on the economy was situated within the middle of the conservative force’s liking – where removing industrial relations protections was fine because we needed to pursue growth; where cutting high income taxes and cutting government services and spending was fine because we needed growth. We bought the argument that a budget surplus and low government debt fuelled economic growth. ...
Warm weather drives UK shoppers back to the high street image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:21:55 PM
....2% growth in the first quarter. “Consumer spending has been a powerful engine of UK economic growth for the past three years, but has now lost momentum,” said Andrew Sentance, a senior economic adviser at accountancy firm PwC and a former member of the Bank of England’s rate-setting committee. ...
Lower fuel prices slow pace of UK inflation image
Source : Guardian [Read Article] Tuesday 18th of July 2017 08:56:34 AM
....“We have not necessarily passed the peak of inflation,” he said. “Consumers felt some respite from the inflation squeeze last month, but price rises are still likely to run ahead of wage increases for the rest of this year – continuing the current consumer squeeze and holding back economic growth. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
.... And that could set off another stampede of house prices. The census data shows us that one of the consequences of the RBA cutting rates since 2011 to encourage economic growth has been to reduce the level of home ownership. ...
Investors received record-breaking dividends in 2017, research shows image
Source : Guardian [Read Article] Monday 17th of July 2017 06:01:43 AM
.... Exchange rate gains have come not only for big multinationals declaring dividends in foreign currencies, but also for others with overseas operations, or export sales, supercharging their profits and so their dividends. “The relative strength of the UK consumer, until recently at least, and surging economic growth abroad has supported stronger dividend growth than we have seen in some time. ...
UK business confidence at lowest point for six years, say forecasters image
....Fragile business sentiment linked to Brexit-related anxiety, domestic political uncertainty and squeezed consumer budgets have caused UK business confidence to drop to its lowest point for almost six years, the economic consultancy IHS Markit reports. Meanwhile, Britain’s economic growth will continue to weaken this year due to a Brexit-related consumer-spending squeeze and muted earnings growth, the EY Item Club said in the latest downgrading of its forecasts. ...
Key Bank of England policymaker 'not ready' for interest rate rise image
Source : Guardian [Read Article] Wednesday 12th of July 2017 05:45:21 PM
.... Several analysts have said the views of Broadbent – deputy governor for monetary policy – would be key to assessing the chances of a first BoE rate hike in a decade. Broadbent said economic growth had been “OK” during the last six to 12 months and pointed to rising employment and inflation. ...
Threats, bullying, lawsuits: tobacco industry's dirty war for the African market image
.... “In the past it used to be invisible interference, but today it is so shameful that it is so visible and they are openly opposing public health treaties like the case in Kenya at the moment … Today they boldly go to court to oppose public health policy. Every single government is highly interested in economic growth. ...
Why a population of, say, 15 million makes sense for Australia image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:54:13 AM
....Economic growth will be supported by sound policies that support productivity, participation and population — the ‘3Ps’. If one defines “economic growth” in the first place by saying that’s what happens when you have more and more people consuming, then obviously more and more people produce growth. ...
People want a 'sensible Brexit', says Philip Hammond image
Source : Guardian [Read Article] Friday 7th of July 2017 04:26:44 PM
.... Hammond – the leading voice for a soft form of Brexit within government – made clear that he thought there were great economic risks if the UK fails to achieve a good deal. He said: “The thing that I remind my colleagues [about] is that if we lose access to our European markets, that will be an instant effect, overnight, and to people who are looking to us to protect jobs, economic growth, living standards, they won’t thank us if we deliver them an instant hit with only a longer-term, slowly-building benefit to compensate. ...
Tell Donald Trump: the Paris climate deal is very good for America | Joseph Stiglitz image
....In fact, far more jobs are being created in solar panel installation than are being lost in coal. More generally, moving to a green economy would increase US income today and economic growth in the future. ...
Prepare for interest rates rise: Inflation could mean hike, says Bank of England economist image
....25 per cent, after they were cut last August following the outcome of the UK referendum. But strong economic growth following the Brexit vote and higher inflation have raised calls for interest rates to rise. ...
US growth rate revised higher image
Source : BBC [Read Article] Thursday 29th of June 2017 02:15:41 PM
.... . The International Monetary Fund this week cut its forecast for US economic growth, in part citing uncertainty over the chances for tax reform and infrastructure spending, policies that many say could provide an economic boost. ...
Osborne gets job number six – an honorary professorship in Manchester image
Source : Guardian [Read Article] Thursday 29th of June 2017 11:40:34 AM
....”. Announcing the decision, the university said Osborne was supportive of Greater Manchester and the university, particularly in supporting the National Graphene Institute and Henry Royce Institute as important centres for translating scientific discovery into economic growth. ...
UK budget deficit to increase this year amid living standards squeeze image
Source : Guardian [Read Article] Wednesday 21st of June 2017 10:49:47 AM
....“There have been signals from government that we are likely to see an end to austerity and therefore a possible increase in public spending. With the economy still in a fragile state, it’s important that any increased expenditure is allocated to areas that will help to drive economic growth – infrastructure, training and fiscal stimulus. ...
Philip Hammond says Brexit deal must put jobs and prosperity first image
Source : Guardian [Read Article] Tuesday 20th of June 2017 08:41:04 AM
....Hammond, who campaigned for remain in the referendum and has been arguing in cabinet against the idea of Britain leaving the EU without a deal, said the result of the general election had shown that the country was “weary after seven years of hard slog repairing the damage of the great recession”. But he added that funding for public services could only be delivered by higher taxes, higher borrowing or stronger economic growth. ...
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
....8% growth in 2016. The group, which repeatedly warned against the economic consequences of a vote to leave, said economic growth would be subdued over the next two years. ...
BIS warns rolling back globalisation would be ‘detrimental’ image
Source : Guardian [Read Article] Sunday 18th of June 2017 05:41:55 PM
....“We must work together to create well designed policies, both domestically and internationally. Only then can we make sure that globalisation will continue to lift economic growth and living standards around the world for generations to come,” Caruana continued. ...
Big business leaders press Theresa May to rethink hard Brexit image
Source : Guardian [Read Article] Sunday 18th of June 2017 03:48:03 AM
.... The chancellor, Philip Hammond, who had been in line for the sack before the election result, is also signalling he wants a softer Brexit that could include a more comprehensive transitional deal. In comments putting him at odds with the prime minister’s determination to go for a hard Brexit that includes leaving the single market, customs union and slashing immigration, he will today assert that the majority of Britons want a deal that protects jobs, economic growth and prosperity. ...
Fed raises interest rates again in further sign of confidence in US economy image
....“But this could be the last hike for a while. Until we see a reversal of the recent weakness in economic growth, retail sales and inflation, the Fed will be on the sidelines. ...
Pay squeeze intensifies as wage growth falls further behind inflation image
Source : Guardian [Read Article] Wednesday 14th of June 2017 08:35:03 AM
....Economists are predicting the pay squeeze will accelerate in the coming months, with inflation likely to rise above 3% and as firms limit pay rises as their own costs rise and the economy weakens. The squeeze is expected to weigh on consumer spending, which has been the key driver of economic growth since the financial crisis. ...
Brussels plan could force euro clearing out of UK after Brexit image
Source : Guardian [Read Article] Tuesday 13th of June 2017 06:05:20 PM
.... The chancellor of the exchequer, Philip Hammond, is likely to tell his EU counterparts that any attempt to damage London’s euro clearing for national advantage would rebound on European firms with higher costs. A Treasury spokesman said: “The UK’s central counterparties [clearing houses] play a crucial role in supporting economic growth here and across the EU. ...
Britons feel the squeeze as inflation rises to four-year high of 2.9% image
Source : Guardian [Read Article] Tuesday 13th of June 2017 08:37:27 AM
.... This continues a pattern of essentials becoming increasingly expensive, leaving households with less to spend on treats. Consumer spending has slowed as a result, holding back the pace of overall economic growth. ...
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
. Employers in Britain are planning to take on new workers over coming months despite looming Brexit negotiations and slower economic growth, according to a survey. ...
Moody's warns election result will complicate Brexit talks image
Source : Guardian [Read Article] Monday 12th of June 2017 11:01:40 PM
....Moody’s, one of the big financial bodies that assigns credit scores to governments, said Theresa May’s failure to secure an outright majority would also hurt the UK’s standing on international debt markets because it was likely to result in more public borrowing. As the pound fell for the second consecutive session on Monday, a senior economist at another ratings agency, Standard & Poor’s, warned that already faltering UK economic growth would be weakened further by the latest bout of political instability. ...
Democrats say Dodd-Frank repeal is 'wrong choice' image
Source : BBC [Read Article] Friday 9th of June 2017 08:42:41 PM
...."It's called the Financial CHOICE Act. It stands for economic growth for all, but bank bailouts for none," he said. ...
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. With economic growth of just 0. ...
ECB forecasts higher growth but keeps rates on hold image
Source : BBC [Read Article] Thursday 8th of June 2017 12:05:28 PM
. The European Central Bank (ECB) has increased its forecasts for economic growth in the eurozone but kept interest rates on hold. ...
China trade healthier than expected image
Source : BBC [Read Article] Thursday 8th of June 2017 08:22:28 AM
. China's exports and imports rose by more than forecast in May, indicating that economic growth remains resilient amid concerns about a slowdown. ...
S&P lowers Qatar's credit rating image
Source : BBC [Read Article] Wednesday 7th of June 2017 07:54:42 PM
.... . "We believe this will exacerbate Qatar's external vulnerabilities and could put pressure on its economic growth and fiscal metrics," S&P said. ...
Austerity has strangled the British economy. Only Labour gets this | Joseph Stiglitz image
.... For instance, when you have young people not learning, or in jobs inappropriate to their skills, they’re not increasing their human capital in the way they could be. Without that human capital, future economic growth will be lower than it could have been. ...
The Guardian view on the economy: invest for growth | Editorial image
Source : Guardian [Read Article] Tuesday 6th of June 2017 07:08:11 PM
.... Corporate profits will be returned to 2010 levels to fund it. The Conservatives expect lower corporation tax rates to finally trigger an increase in investment, and economic growth strong enough to offset the party’s painful austerity agenda. ...
South Africa falls into second recession in a decade image
Source : BBC [Read Article] Tuesday 6th of June 2017 11:29:42 AM
. South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0. ...
If you want to get technical, recession records are nothing to brag about | Greg Jericho image
....3%, it remains very timid:. Worse still is that while the treasurer continues to suggest we are near the end of the fall in mining investment dragging down economic growth, the latest figures for expected investment suggest the fall still has a way to go. ...
The global economy can recover faster if we avoid the obvious pifalls | Nouriel Roubini image
.... The US president will not be able to pass any of the radical growth policies he has proposed; and any policy changes that he does make will have a limited impact. Contrary to what the administration’s budget projections claim, annual economic growth in the US has almost no chance of accelerating from 2% to 3%. ...
Global beer sales drying up, says report image
Source : BBC [Read Article] Sunday 4th of June 2017 11:51:14 AM
....Although global GDP increased 3. 5% in 2016, according to the IMF, and economic growth usually correlates with increased alcohol consumption several major economies, China, Russia and Brazil all faced an economic slowdown or recession. ...
UK manufacturing in healthy shape despite election uncertainty image
Source : Guardian [Read Article] Thursday 1st of June 2017 05:24:04 PM
.... Higher prices and slow wage growth have eroded household budgets, denting the main driving force for UK GDP growth. The consumer squeeze was a key factor in the sharp slowdown in economic growth in the first quarter of 2017. ...
Indian growth figures miss estimates image
Source : BBC [Read Article] Wednesday 31st of May 2017 01:13:06 PM
....Analysis: Sameer Hashmi, BBC News. The latest economic growth figures might have missed estimates, but doesn't come as a huge surprise. ...
Would a four-day week work? image
Source : BBC [Read Article] Wednesday 31st of May 2017 09:13:12 AM
....Also, a working paper from the International Monetary Fund suggested that the 35-hour week in France had reduced employment and not made workers any happier. But it's not just about maintaining economic growth - part of the idea of the four-day week is that to create a more sustainable economy we need to stop being obsessed by growth and start thinking about having a lower impact on the environment. ...
Signals mixed on US economy image
Source : BBC [Read Article] Tuesday 30th of May 2017 05:09:42 PM
....In a separate survey of consumer sentiment, confidence in the economy slipped. Policymakers are trying to read a mix of signals from the US economy, as the country extends one of the longest streaks of economic growth in its history. ...
Higher inflation drives down real wages for British workers image
Source : Guardian [Read Article] Tuesday 30th of May 2017 12:48:46 PM
....With just over a week to go until a snap general election largely focused on looming Brexit negotiations, economists at the ratings agency Standard & Poor’s are the latest to highlight the blow to living standards from last year’s vote to leave the EU. The referendum result did not deliver the drastic hit to economic growth that some had predicted but it did send the pound sharply lower. ...
Crossrail 2 hits buffers as uncertainties over Brexit and election take hold image
....Funding is also a stumbling block, because the capital will again be expected to meet at least half the costs, although business rates will remain elevated for years just to pay for the first Crossrail. Proponents of Crossrail 2 argue that revenue is guaranteed: this is a scheme to cope with demand, not one to stimulate economic growth, although it would also expect to fuel development, growth and housing further out on regional branches south and north. ...
Don't want to work until you are 70? You will have to, says WEF image
Source : Guardian [Read Article] Friday 26th of May 2017 06:07:32 AM
.... According to the Organisation for Economic Cooperation and Development, a target of 70% of pre-retirement income roughly equates to an unchanged standard of living because once people retire they save less and pay less tax. The WEF said the funding gap would continue to grow at a rate higher than the expected economic growth rate, often 4% to 5% a year, driven in part by the effects of an ageing population: a growing population of retirees who are expected to live longer in retirement. ...
China risks another downgrade if debt bubble not fixed, says Moody's image
....China’s structural reforms will not be enough to arrest its rising debt and another credit rating downgrade for the country is possible unless it gets its ballooning borrowing in check, two officials at Moody’s ratings agency have said. Doubling down on comments earlier this week that China’s financial strength will be eroded because of huge corporate and household debt, Moody’s said the country’s “vast reform agenda” would not be enough to prevent borrowing from weighing on economic growth. ...
'Workers are being punished by Brexit' – experts debate the data image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:14:25 AM
.... The number of unfilled vacancies has risen to its highest level since the current data series started in 2001. Taking all this data together, it is generally consistent with the slowdown in economic growth which is expected by most economic forecasters this year and next. ...
Brexit economy: workers face squeeze but firms remain upbeat image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:12:55 AM
Mongolia gets financial aid totalling $5.5bn from IMF image
Source : BBC [Read Article] Thursday 25th of May 2017 04:51:17 AM
....The resource-rich nation suffered a slowdown after commodity prices collapsed, and demand slowed. The donors' programme will also look at how agribusiness and tourism sectors could contribute to economic growth. ...
The great London property squeeze image
Source : Guardian [Read Article] Thursday 25th of May 2017 04:30:19 AM
China's credit rating downgraded amid fears over slowing economy image
Source : Guardian [Read Article] Wednesday 24th of May 2017 12:48:29 PM
....Moody’s expects government debt to rise to 40% of GDP by the end of 2018, and to 45% by 2020. Luc Froehlich, head of investment directing for Asian fixed income at Fidelity International, said China was facing a number of issues: “The downgrade is yet another sign of the challenges faced by China, which is juggling rising leverage, declining economic growth rates and ongoing structural reforms. ...
Moody's cuts China's credit rating for first time since 1989 image
Source : BBC [Read Article] Wednesday 24th of May 2017 03:28:10 AM
....What this ratings downgrade on China's debt boils down to is whether you believe the Chinese government has the ability to write off this debt. Does Beijing somehow have an ability to extend infinite credit lines, or at least reduce debt levels? And can it do so while trying to maintain strong economic growth figures? . ...
Trump's $4.1tr budget takes hatchet to safety net image
Source : BBC [Read Article] Tuesday 23rd of May 2017 03:31:49 PM
....This budget projects the US government will eliminate its deficit and be running a surplus by 2027 - for the first time since the 1990s. The plan promises to cut tax rates, relying largely on hoped-for economic growth of 3% to avoid adding to the deficit. ...
Growth slump as rising prices slowed consumer spending, figures to show image
....Consumers failed to propel the UK economy in the first quarter as rising prices dampened appetite for spending, official figures will show this week. City economists believe the Office for National Statistics will confirm on Thursday that economic growth more than halved to 0. ...
Australian dollar news: GBP/AUD down from 8-month high as British workers face pay squeeze image
....”. "This could create higher levels of economic insecurity and could have serious implications for consumer spending, which has helped to support economic growth in recent months. ...
General election 2017: Workers' rights protections promised by Tories image
....Mrs May, visiting Oxfordshire, said: "By working with business, reducing taxes and dealing with the deficit, we have delivered steady improvements to the economic prospects of working people. "Now is the time to lock in that economic growth and ensure the proceeds are spread to everyone in our country. ...

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