British businesses shrug off post-Brexit vote gloom as confidence hits highest level since June – although skills shortages are now a concern, says IoD December 26, 2016 British businesses are positive about the outlook for 2017, with confidence for the year ahead reaching its highest level since the vote to leave the European Union, according to a new survey. However, concerns remain, with the country’s economic situation and and a tightening labour market casting a pall, according to the poll by the [...]
Britain’s third quarter GDP growth revised: Financial services provide better than expected growth December 23, 2016 Britain's third quarter growth has been revised up – but in an official shake-up of the figures year-on-year growth has fallen. The UK's GDP growth in the third quarter had previously been reported as 0.5 per cent but today updated statistics revised this up to 0.6 per cent. However, the official statistics for the first [...]
Brexit, six months on: City leader demands government allays uncertainty in the Square Mile December 23, 2016 Doesn't time fly? Just six months ago half the nation was celebrating the Britain's decision to unshackle itself from the EU, while the other half had that knot in the pit-in-the-stomach feeling. The good news so far is the sky hasn't fallen in. And this was after 2016 continued to shock and surprise us from a [...]
Consumers wary about creeping inflation in 2017 hitting household budgets December 23, 2016 Consumer confidence has flopped to its lowest levels since the Brexit vote with inflationary pressures starting to bite, according to leading group of economists. Concern about what the next 12 months will bring for household finances drove confidence to down by one point in November – it is at its lowest levels since July, a poll by YouGov and the [...]
US GDP grows at fastest pace in two years in the third quarter, although durable goods orders disappoint December 22, 2016 The US economy grew faster than previously thought in the third quarter of 2016, to post the fastest rate of quarterly growth in two years. The annualised GDP growth rate was 3.5 per cent in the third quarter, according to revised data from the US Department of Commerce. The upgrade in the measure was driven [...]
Investor $2m visa applications rise post-Brexit vote as investors take advantage of weaker sterling and avoid immigration limits December 22, 2016 Investor visa applications rose sharply after the Brexit vote, as wealthy foreigners scrambled to take advantage of special immigration rules and a weaker pound. Applications rose by 61 per cent year on year in the three months after the referendum in anticipation of stricter rules on limiting immigration. This also represented a rise compared to [...]
All I want for Christmas is… an ultra-hard Brexit (and nine other pro-growth policy wishes) December 22, 2016 Here is my Christmas wish list for Santa. Ten policy measures which, if implemented, would make future growth prospects truly joyous, with Christmas every day of the week. But these are also economic policy measures Santa won’t be too familiar with, as he boards his sleigh somewhere north of the Nordic economies. I don’t pretend [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
Does ultra-loose monetary policy work? The Treasury Committee wants to find out December 22, 2016 The Bank of England’s (BoE) post-financial crisis loose monetary policy may have had “unintended consequences”, according to the head of the Treasury Select Committee (TSC). TSC chair and Conservative MP Andrew Tyrie is set to launch a new inquiry into post-2008 central bank policy, which will investigate how effective low interest rates and accommodative instruments such [...]
Resilient British consumers grow more confident about personal finances, but see storm clouds ahead for the UK economy December 22, 2016 British consumers have ended the year on a resilient note, with confidence rising despite gloomy forecasts for the economy, according to a long-running survey. Consumer confidence increased in December by one point, driven higher by a positive attitude towards making major purchases such as furniture or white goods, says the index compiled by market research [...]