Tag Archives: UK

Official data revealed today that the British government borrowed 19.1 billion pounds last month, less than the expectation in a poll conducted by Reuters to borrow 21 billion pounds (29.2 billion dollars), bringing borrowing in the first 11 months of the financial year to nearly 279 billion pounds.

The pound fell again on Monday (March 15th) amid an increase in US Treasury yields and with the European Union launching legal action against Britain’s unilateral changes to trade arrangements with Northern Ireland. The 27-nation bloc said the changes violated the Brexit deal signed last year. The pound fell 0.22% …

The drama of the Brexit saga continues, as disagreements between the United Kingdom (UK) and the European Union (EU) seem to have escalated once again after the European bloc decided to take legal action against what it is considering to be unilateral moves by Britain in regards to the Northern …

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, suggesting that Britain’s industrial sector is facing a hard time amid the covid-induced lockdowns. Manufacturing output arrived at 2.3% MoM in January versus -0.8% expectations and 0.3% booked in December while total industrial output came in …

Official data revealed today that Britain’s economy shrank by 2.9% in January compared to December, a less severe pace than expected, as the country again entered into general isolation measures aimed at combating the spread of the Coronavirus. Economists polled by Reuters had expected a contraction of 4.9%. The Bank …

The Organization for Economic Cooperation and Development (OECD) expects the global economy will expand by 5.6% in 2021, raising its forecast for growth compared with an estimated rate of 4.2% in the previous report. The OECD report issued on Tuesday noted that recovery from the Coronavirus impact this year will …

Halifax mortgage lender said today that UK house price growth slowed for the third month in a row in February, in a new sign that the pandemic-driven boom in Britain’s housing market is fading. Halifax said house prices increased 5.2% year-on-year, following a 5.4% rise in January. In February alone, …

British finance minister Rishi Sunak told ministers that they are borrowing on an extraordinary scale, British Prime Minister Boris Johnson’s spokesman told reporters on Wednesday, According to Reuters. “As a conservative government, we know that we cannot ignore this problem of borrowing,” Sunak added.

The UK services sector activity came less than expectations in February, the final report from IHS Markit came out this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 49.5 in February versus 49.7 expected and a 49.7 – last month’s flash reading.

The Director-General of the World Health Organization, Tedros Adhanom Ghebreyesus, said Monday that the number of new Coronavirus infections worldwide increased last week for the first time in seven weeks. Tedros added that the increase is “disappointing, but not surprising.” He urged countries not to ease measures to combat the …