Analyst reaction: GDP at 0.6 per cent in second quarter July 25, 2013 Howard Archer, chief UK & European economist, IHS Global Insight: The GDP data are very encouraging, not only showing the growth rate doubling to 0.6% quarter-on-quarter but also showing positive contributions from all sectors. While the dominant services sector remains very much key to the economy’s performance, it is important that manufacturing and construction grow [...]
UK services output jumps by four times more than expected July 25, 2013 The gross value added in the UK services sector – a key contributor to GDP – rose by a better than expected 0.8 per cent points in the three months to May compared with the previous three months, according to data from the Office for National Statistics (release). The index of services now stands at [...]
UK GDP grows by 0.6pc in second quarter July 25, 2013 UK GDP grew by 0.6 per cent in the second quarter of 2013, in line with analysts’ expectations, according to new figures from the Office for National Statistics today. The services sector grew by 0.6 per cent, while construction increased by 0.9 per cent quarter-on-quarter. While the figures are an encouraging sign for sustained growth [...]
Unilever sales disappoint as emerging markets growth slows July 25, 2013 CONSUMER goods giant Unilever today posted underlying sales growth of five per cent in the second quarter of the year, falling short of forecasts, due to a slowdown in emerging markets. Emerging markets grew at 10.3 per cent, slightly down on 10.4 per cent in the previous quarter, while developed markets fell 1.3 per cent. [...]
Pound falls as growth doubles to 0.6 per cent in second quarter July 25, 2013 The UK economy is heating up, but it's still pretty cold out there, according to the ONS. GDP grew by 0.6 per cent in the second quarter, up from 0.3 per cent in the first. GDP is still 3.3 per cent below its first quarter 2008 peak, and this figure is in line with average [...]
Italian consumer confidence grows across all measures July 25, 2013 Italian consumer confidence grew in July, according to the latest figures from Istat. The confidence climate index rose to 97.3 from 95.8. This growth was consistent across all components, with economic, personal, current and future indices all growing. Meanwhile, the balance concerning expectations on employment decreased to 68 from 78. The balance on inflation perceptions [...]
Rolls-Royce profits rise 34pc July 25, 2013 ENGINEERING firm Rolls-Royce today posted a 34 per cent increase in underlying pre-tax profits to £840m for the first half of the year. Revenue rose 27 per cent to £7.3bn and shareholder dividends rose 13 per cent to 8.6p per share. Chief executive John Rishton said that while “good progress” had been made, “it is [...]
German businesses more confident about current situation – but less so about the future July 25, 2013 German businesses are more optimistic about their current situation, but less so about their short-term growth prospects, according to new data from the Ifo institute. The institute’s latest business climate index rose for the third consecutive month in July to 106.2 from 105.9 in June, above expectations of 106.1. The current assessment, meanwhile, came in [...]
ScottishPower warns government efficiency schemes could push energy prices up further July 25, 2013 ScottishPower has warned that the rising burden of taxes and levies on energy companies means that further price rises for customers could not be ruled out despite stable energy costs in the market. The company said yesterday that a 137.7 per cent rise in the cost of implementing government efficiency schemes (to €155.8m/£134m) in the [...]
BT Sport signs up half a million pre-launch July 25, 2013 TELECOMS company BT today said more than half a million households have ordered its new sports offering to challenge Sky Sports, as it reports a smaller than expected decline in first quarter profit and revenue. BT Sport is being launched in August as part of the British firm’s plan to compete with Sky and [...]