Tag Archives: UK

Official data from the Office for National Statistics revealed that British retail sales suffered their most significant decline in almost three years in December. This raises concerns about the possibility of the economy entering a recession towards the end of last year. The report indicated that early Christmas preparations, particularly …

The UK’s Consumer Price Index (CPI) report is set to be released on Wednesday, January 17, with major banks forecasting the upcoming inflation print. The looming data follows a weak November report, with core inflation falling slightly to just below 5% year-on-year for the first time since January 2022. Headline …

This morning, the UK’s Office for National Statistics released data indicating that the country’s Gross Domestic Product (GDP) expanded by 0.3% on a monthly basis in December. This figure surpassed market expectations, which had predicted a growth rate of 0.2%. Notably, the preceding reading for November reflected a contraction of …

The UK shared economic updates today, and it’s a mix of news. According to the latest data from the British government on December 22nd, the Gross Domestic Product (GDP) went down by about 0.1% in the third quarter. This is a change from the first report, which initially suggested stability. …

The US and Western allies have imposed sanctions on oil shippers and traders who have been helping Russia bypass price restrictions. Since a price cap on Russian oil was set last year, Moscow has developed a shadow fleet of tankers and found alternative insurance and financing options, enabling it to …

The United States launched Operation Prosperity Guardian, a multilateral naval operation involving the United Kingdom, Canada, France, Bahrain, Norway, and Spain. Oil tycoon BP has temporarily stopped shipping any crude along the route; rival energy tycoon Shell has not yet responded.Oil PricesAttacks on commercial ships in the Red Sea have …

Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.The metal that is mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities …

British Prime Minister Rishi Sunak is set to announce a funding commitment of £1.6 billion (approximately $2 billion) during the United Nations Climate Change Conference (COP28) summit on Friday. The announcement aims to underscore the UK’s commitment to climate change mitigation efforts after easing some measures to achieve emission reduction …

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) for November came in at 46.7, surpassing expectations of 45.0 and marking an improvement from October’s final print of 44.8. In addition, the Preliminary UK Services Business Activity Index showed significant progress, reaching a four-month high of 50.5 in …

Annual inflation in Britain for October slowed by 4.6%, more than expected to slow by 4.8%, meaning it reached a two-year low last month. Inflation in Britain reached 6.7% during September and August. The Bank of England earlier this month left its benchmark interest rate unchanged at 5.25% after ending …