Eurozone GDP growth confirmed at 0.6 per cent – faster than US and UK June 7, 2016 The Eurozone grew a little faster than expected in the first quarter of this year, the most recent back-and-forth revisions to official GDP statistics have revealed. Figures published by Eurostat this morning confirmed that the Eurozone economy grew by 0.6 per cent during the first three months of the year, up from the most recent estimation of [...]
EU referendum: Where does your industry come on the Brexit hit list? June 7, 2016 Had enough of people talking about vague referendum uncertainty and a post-Brexit hit to the UK economy? Suspicious they don't really know what they're going on about? With so many warnings about thousands of pounds lost here, higher costs over there and general panic just about everywhere, it's understandable. In an attempt to get a [...]
Halifax says house prices could be reaching unsustainable levels as property prices soar despite EU referendum June 7, 2016 There were no surprises in the latest numbers on house prices, released this morning – they are still going up. The average house was worth £213,472 in the three months to May, according to the Halifax house price index, 9.2 per cent more than the same period last year. The bank said the same old story [...]
Lord Heseltine wants Teeside to become an economic powerhouse June 7, 2016 Teeside can become an economic powerhouse following the collapse of the steel industry, former deputy prime minister Lord Heseltine has said today. In a new report, "Tees Valley: Opportunity Unlimited" prepared for the government, Heseltine said parts of the region had descended into a "scene of desolation", and called for more investment into the area, a [...]
Ignore Remain’s Brexit deceptions: EU backers are the real protectionists June 7, 2016 Following Michael Gove’s impressive performance in the Sky “debate” last week, the Stronger In campaign was always going to clutch at straws to find some supposed slip-up to exploit. This time it was Gove’s admission that “I cannot say that everybody in their current job will keep their job” following a Brexit. This, the Remain [...]
As Brexit momentum sends sterling tumbling, is a weaker pound really such a bad thing for the UK economy? June 7, 2016 Vicky Pryce, board member of the Centre for Economics and Business Research, a former government adviser, and co-author of It’s the Economy, Stupid. Economics for Voters, says Yes. The external Monetary Policy Committee member Kristin Forbes recently pointed out that the burgeoning UK current account deficit has been more driven by a deterioration in the investment [...]
IPOs might be back – but for how much longer? June 7, 2016 Investors are on a treasure hunt for returns but there have been all too few big finds on stock markets lately and the jury is still out on whether a rally will present itself this summer. So why are managers so seemingly unwilling to tap into all the new issues hitting the markets? And where [...]
Pubs, restaurants, garden centres and clothes stores win in early summer spending spree June 7, 2016 Consumer spending roared back in May with shoppers celebrating the arrival of warm weather by splashing the cash in pubs, restaurants and garden centres. The latest spending data from Barclaycard showed consumer spending jumped 3.6 per cent after weak figures for March and April saw growth fall to a two-year low. Spending in pubs jumped [...]
Retail sales back to growth in May as warmer weather encourages spending June 7, 2016 Retail sales picked up in May as consumers took to the internet to start their summer splurge. Sales grew by 1.4 per cent in the UK retail industry, following two months of flat-lining, in a welcome, if modest, boost to the struggling industry, according to the British Retail Consortium (BRC). Once again, however, sales growth was driven [...]
UK automotive industry to accelerate investment plans June 7, 2016 Suppliers to the UK's car makers will invest £225 million over the next three years in a big boost to the UK's manufacturing base. Research by the Society of Motor Manufacturers and Traders (SMMT) of 100 members of the UK car making supply chain showed an overwhelming majority of companies feel confident in the health of the industry and optimistic [...]