German factory slump: Is the European powerhouse heading for recession? December 6, 2019 Germany has reported a “disastrous” fall in factory production, sparking fears the country could be dragged back towards recession. New figures from Germany’s work ministry revealed industrial output slumped 1.7 per cent month-on-month in October, well below analysts’ expectations and the quarterly average. On an annual basis, the figures marked the biggest drop in factory [...]
Permanent job appointments fall due to political uncertainty December 6, 2019 The number of permanent job appointments dropped again last month as growth in the demand for staff fell to a ten year low due to political uncertainty heightened by the upcoming General Election. November’s drop in permanent appointments stretched the length of the decline to nine months, the longest period of contraction since the financial [...]
Tax cut promises ‘at odds’ with Tory manifesto, think tank says December 5, 2019 Boris Johnson’s claims that he would deliver a tax-cutting Budget in the first 100 days of a new government “are at odds with his party’s manifesto”, a think tank has said. The Prime Minister last night laid out his priorities for government, saying chancellor Sajid Javid would hold a Budget that cut taxes for families [...]
Japan approves $122bn stimulus package as governments start spending December 5, 2019 Japan’s cabinet has approved a huge $122bn (£92bn) stimulus package to combat stalling growth and insure against global trade tensions. The government expects the 13.2 trillion yen package to push up growth by 1.4 per cent by the end of the 2021 fiscal year. Economists have cautioned the effects could be lower, however. Read more: [...]
Pound hits 31-month high against euro ahead of General Election December 5, 2019 The pound hit a 31-month high against the euro this morning as the Conservatives edged closer to victory in the 12 December General Election. The latest poll, from Savanta Com Res last night, put the Tories ten points ahead of Labour, boosting traders hopes’ that a Boris Johnson-led government would leave the European Union with [...]
Global growth to pick up next year despite US and China slowdowns, says report December 4, 2019 Global economic growth is set to pick up in 2020 despite the world’s two biggest economies slowing, according to asset manager Investec. The world economy will expand 3.3 per cent in 2020, Investec said, picking up from a post-crisis low of 2.9 per cent growth this year. Read more: FTSE 100 slumps as Trump suggests [...]
‘Clearance to take off’: Tory majority to propel UK economy, report says December 4, 2019 A convincing Tory majority at the upcoming election will send the pound surging to a three-year high and put rocket boosters under the UK economy, according to asset manager Toscafund. In a new poll shared exclusively with City A.M., Toscafund predicted Boris Johnson’s Conservatives will win a majority of about 30 in the 12 December [...]
For richer or for poorer? The economic case for marriage is worth remembering December 4, 2019 An important piece of social news emerged last week. According to the Office for National Statistics, the divorce rate in 2018 fell to its lowest level for nearly 50 years. The overall trend is clear and well-established. The divorce rate rose steadily from the late 1950s, with sharp rises immediately following the Divorce Act of [...]
UK economy sent ‘staggering’ as services sector shrinks ahead of election December 4, 2019 The UK services sector contracted last month at the fastest pace since March, survey data has shown, as domestic political uncertainty drove Brits to be cautious with their spending. The IHS Markit/Cips services purchasing managers’ index (PMI) fell to 49.3 in November, down from a score of 50 in October. Although the reading was above [...]
John McDonnell: A Labour government would save families thousands December 3, 2019 Shadow chancellor John McDonnell will tomorrow tell families that a Labour government could save them thousands of pounds a year as he seeks to shrug off criticism of his spending plans. In a speech in Birmingham ahead of the 12 December polling day, McDonnell will attack the Tories for overseeing a “cost of living crisis” [...]