UK avoids recession but annual growth slowest in almost a decade November 11, 2019 The UK economy avoided falling into recession in the third quarter of the year, official figures have shown today, but annual growth slipped to its slowest pace in nine years. A pick up in the giant services sector and a return to growth in construction boosted the economy, but the malaise in manufacturing continued with [...]
UK business confidence slumps to seven-year low November 11, 2019 Confidence among UK businesses tumbled to its lowest level in over seven years last month, according to a new report, as yet more political uncertainty cast gloom over the economy. Read more: Bank of England: Brexit deal and trade wars will hold back UK growth Businesses in Britain’s manufacturing sector were the most pessimistic. Manufacturers [...]
Employers positive about hiring with parties set for spending splurge November 11, 2019 Employers were optimistic that staff numbers will increase in the last three months of the year when polled in September, a survey has shown, as the promised “end to austerity” boosted expectations about job numbers in the public sector. Read more: General Election: Sajid Javid promises to rip up restrictive spending rules Yet despite the [...]
China trade expo yields results as US deal hangs in balance November 10, 2019 Trade deals worth $71bn (£56bn) were struck at the second China International Import Expo (CIIE) last week as Beijing sought to demonstrate its growing openness to the rest of the world, the country’s commerce ministry said today. Read more: S&P 500 in fifth week of gains despite Donald Trump casting trade deal into doubt The [...]
Moody’s downgrades UK credit rating outlook to ‘negative’ November 9, 2019 Moody’s has signalled there is a possibility it will downgrade the credit rating on government debt amid an “erosion in institutional strength” caused by Brexit. The ratings agency has changed the outlook on its Aa2 rating of the UK’s debt from “stable” to “negative”, implying a rating cut could be imminent. Read more: Sajid Javid [...]
UK job growth slows as Bank of England entertains interest rate cut November 8, 2019 The demand for staff from UK employers grew at its slowest rate for almost eight years in October, according to a survey revealed on Friday, appearing to justify two Bank of England rate-setters backing an interest rate cut yesterday. A monthly index of job vacancies from the Recruitment and Employment Confederation and accountants KPMG fell [...]
Asian stocks mixed on US and China trade war confusion November 8, 2019 Asian stocks were mixed this morning on uncertainty over whether the US and China are close to sealing a deal to call a truce in their trade war. The news that the world’s two largest economies had agreed to roll back tariffs on each others goods caused global markets to rally overnight. Read more: FTSE [...]
The Tories and Labour both seem happy to throw fiscal responsibility to the wind November 8, 2019 The “money men” are at it again. Yesterday, chancellor Sajid Javid and shadow chancellor John McDonnell took part in a spending showdown, announcing pledges and making their cases for different economic visions for Britain in years to come. Labour’s spending promises are staggering. Essentially doubling the figures from the 2017 manifesto, the party has ditched [...]
Pound sinks as Bank of England comes closer to interest rate cut November 7, 2019 The pound fell sharply this afternoon as the Bank of England came closer to signalling an interest rate cut. The Bank’s Monetary Policy Committee voted in favour of holding rates for the 15th month in a row, but traders were surprised as two members voted for an immediate rate cut. Read more: Bank of England: [...]
Bank of England: Brexit deal and trade wars will limit UK growth November 7, 2019 Boris Johnson’s Brexit deal and global trade tensions are likely to hold back growth in the UK economy over the next three years, the Bank of England has said. British national income will be one per cent lower by 2022 than originally thought, the Bank predicted today in its quarterly deep-dive into the economy. Read [...]