Tag Archives: UK

Britain’s economy contracted less than expected in May despite the impact of strikes and an extra holiday for banks to mark King Charles’ coronation, putting it on track to avoid contraction in the second quarter of the year. The Office for National Statistics said on Thursday that Britain’s economic output …

The private sector in the United Kingdom slowed dramatically last month, despite reduced inflation, as increased Bank of England interest rates weighed on demand, according to a poll released on Wednesday. The S&P Global/CIPS services Purchasing Managers’ Index (PMI) for the United Kingdom fell to 53.7 in June from 55.2 …

Britain’s National Bureau of Statistics data showed on Friday that the British economy grew by 0.1 percent in the first quarter of this year, unchanged from preliminary estimates published last month. The office said that the British gross domestic product in the first quarter of this year was 0.5 percent …

According to a study released on Wednesday, British manufacturers anticipate to boost prices by the fewest amount since February 2021 during the next three months, while price hikes will still be substantially quicker than their long-run average. The Confederation of British Industry (CBI) said that its monthly index of manufacturers’ …

The stock market in the United Kingdom traded neutral on Tuesday, as investors returned from a long weekend to absorb an agreement to lift the United States’ debt ceiling as well as new inflation fears. At 08:15 GMT, the benchmark FTSE 100 index was down 0.2%, the mid-cap FTSE 250 …

Retail sales climbed by 0.5% after falling by 1.2% in March. This was more than the 0.3% growth predicted by experts. Food shop sales increased by 0.7%, while non-food store sales increased by 1%. Other retail and department store sales increased by 2.1% and 1.7%, respectively, month over month. ONS …

The CBI said sales balance decreased to -10 in May from +5 the previous month, falling short of consensus estimates of +10. “Retailers continue to face a challenging trading environment, with firms reporting disappointing sales and formidable inflationary pressures,” said CBI chief economist Martin Sartorius. As a result, they must …

The Office for National Statistics (ONS) said on Wednesday that home prices in the United Kingdom climbed by 4.1% in the year to March, easing from an upwardly revised 5.8% increase in February. According to the ONS, London saw the weakest yearly rise, with prices rising 1.5%. Recent home market …

The UK will avoid a recession this year, according to the IMF, which added that the country’s economy has been “buoyed by resilient demand in the context of declining energy prices.” The Washington-based think tank now predicts UK GDP to expand 0.4% in 2023, owing to higher wage growth, more …

UK house prices hit a new record high in May as the housing market continued to defy pessimistic forecasts at the start of the year, figures showed. Rightmove’s house price index showed the average price of property coming to market jumped by 1.8%, £6,647, to set a new peak of …