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, …
Read More »UK’s Sunak: Cannot Ignore Problem of Borrowing
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.
Read More »UK Final Services PMI Revised Down in Feb
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.
Read More »World Health Organization: Corona Cases Are Rising Globally For The First Time in 7 Weeks
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 …
Read More »UK House Prices Miss Expectations And Rise in February
Mortgage Finance Nation Wide said UK house price growth rose unexpectedly last month, defying expectations of a slowdown, as Finance Minister Rishi Sunak prepares to introduce new budgetary measures to boost the market. The company added that house prices rose 6.9% year-on-year in February from 6.4% in January, beating all …
Read More »UK Final Manufacturing PMI Beats Estimates in Feb
The UK manufacturing sector activity expanded at a faster pace than expected in the month of February. Today’s survey showed that British factories recorded the slowest rate of production growth since May in February, as supply chain disruptions and rising costs linked to Britain’s withdrawal from the European Union and Covid-19 …
Read More »UK PM Johnson: We Must Live With COVID-19 Like The Flu in Long Term
British Prime Minister Boris Johnson said Monday that people should live with the Coronavirus in the long term just as they do with the flu with a vaccine available, adding that there are no supply problems affecting the doses at the present time. The only reason I’m able to say…we …
Read More »UK PM Johnson: Very Optimistic England Will Fully Re-open on June 21
British Prime Minister Boris Johnson said on Tuesday that he is very optimistic that England will fully re-open on June 21 but added that it’s not a guarantee. “British Cabinet Minister Michael Gove will review the use of vaccine certification,”
Read More »UK: CBI Retail Sales Balance Improves Modestly to -45% in February
The data from the UK showed on Tuesday that the Confederation of British Industry’s (CBI) Retail Sales Balance in February rose to -45 from -50 in January. This reading came in worse than the market expectation of -38.
Read More »UK Plans to Gradually Ease Lockdown Measures
Prime Minister of the United Kingdom (UK), Boris Johnson, revealed on Monday a plan to gradually ease the lockdown measures imposed as a precaution against the spread of the Coronavirus pandemic. In the first step, schools in England are set to reopen on March 8. In the same time, minimum …
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