Gaps in net household incomes are falling, according to the IFS January 13, 2017 Inequality in net household incomes has declined over the last 20 years according to a new report from the Institute for Fiscal Studies – the second set of figures this week to reveal a narrowing gap between Brits at the top and bottom of the scale. Published this morning, the IFS numbers record household incomes calculated [...]
Eurozone industrial production surge gives surprise growth picture January 12, 2017 Industrial production has surged in the Eurozone, setting the scene for an increase in growth in the region. Eurozone industrial production rose to 1.5 per cent in November, up from a meagre 0.1 per cent in October, according to the European Commission. While industrial production figures can be volatile, the acceleration in industrial growth will [...]
Significant rise in inflation amid a firming recovery predicted by European Central Bank January 12, 2017 Europe's economy is recovering "at a moderate but firming pace" but headline inflation will rise "significantly" in the coming months, according to the monetary policymakers at the European Central Bank (ECB). The ECB also said Brexit uncertainty and the election of Donald Trump presented risks to the EU economy, while "political uncertainty remained high". In minutes from [...]
So much could go wrong – but America’s President-elect gives free marketeers plenty to cheer January 12, 2017 Within days, Donald J Trump will be the forty-fifth President of the United States, and his economic team will be charged with the task of translating an economic manifesto into actual policy. As a passionate supporter of free trade, I have problems with The Donald’s America First trade policy. But when I look at the [...]
Now the Tories give run around on immigration January 11, 2017 Making a mess of immigration policy isn't an endeavour restricted to the Labour party. As much as we enjoyed their festival of confusion yesterday regarding the free movement of workers, the Tories have now given us a clear reminder that politicians of all stripes are capable of getting tangled up in this sensitive area of policy. [...]
FTSE’s 12-day winning run sets record January 11, 2017 London's top share index hit a fresh all-time high yesterday, setting a record for the longest winning streak in FTSE 100 history. The blue-chip benchmark soared above 7,326 during intra-day trading, before settling at 7,290.49 by the close. The FTSE got a boost from the falling pound early in the day, when official figures revealed [...]
Bank of England governor Mark Carney reaffirms Brexit no longer the biggest risk to UK’s financial stability January 11, 2017 The governor of the Bank of England confirmed today that Brexit is not the biggest risk to the UK's financial stability. Speaking in front of the Treasury Select Committee, Mark Carney said that it was the opinion of the Bank that the biggest risks to the UK's financial system were global ones. "[Brexit] has some [...]
Artificial intelligence and robots are one of the biggest technological risks to the world January 11, 2017 Artificial intelligence and robotics are one of the biggest potential risks to humankind of emerging technologies, according to a new report from the World Economic Forum. But, the development of such technology, which is expected to disrupt everything from the world of work to geopolitics, could also conversely bring the biggest benefits to the world. [...]
Sterling falls further after the UK trade balance widens to £4.2bn in November with fast growing imports January 11, 2017 The pound fell sharply on reports the UK’s deficit on trade grew more than was expected in November with imports increasing at a faster rate than exports – despite sterling weakness. The UK’s balance of trade showed a deficit of £4.2bn in November, as imports defied weaker sterling to increase at a faster rate than [...]
UK manufacturing rose in November as the construction sector faced a slowdown January 11, 2017 The UK economy is showing signs of mixed form, as production output increased in November, although construction output showed a small decline month on month. Production was estimated to have increased by 2.1 per cent compared with October, with oil and gas capacity coming back on track after a maintenance period and a strong showing [...]