Manufacturers urge May to revoke Article 50 if Brexit deal cannot be secured April 7, 2019 Manufacturers have urged Prime Minister Theresa May to revoke Article 50 is she cannot secure a Brexit agreement this week amid growing fears the UK could crash out of the EU without a deal. In an open letter to May and Labour leader Jeremy Corbyn, trade body Make UK said the industry had already been [...]
Brexit uncertainty has cost the UK economy £66bn, says S&P April 4, 2019 Brexit has cost the UK economy £66bn in lost growth, according to ratings agency S&P. Had the UK voted to remain in the EU in 2016s referendum the economy would have been three per cent larger by the end of 2018, the group’s report said. Read more: Brexit delay wins MPs' support by a margin [...]
The European Union is on the backfoot, but few seem to notice April 2, 2019 There is a very bad habit that many of our broadcasters have of focusing on what might befall us. It reminds me of Frankie Howerd in Up Pompeii bemoaning “woe is me, woe is me” – as if he might warn his master against leaving the Empire without a deal. It would be refreshing were there [...]
Eurozone economic sentiment dips as UK confidence grows March 28, 2019 Economic sentiment in the European Union and the eurozone fell this month, while confidence in the UK jumped 1.6 points. Sentiment in the euro area dropped by 0.7 points to 105.5 and in the EU sentiment fell by 0.4 points to 105, according to the European Commission’s latest business and consumer survey. Read more: Draghi [...]
Asian stocks slump amid fears of global economic slowdown March 25, 2019 Fears of a global economic slowdown took its toll on Asian markets overnight, as stocks slumped amid growing investor caution. Read more: Fed slows balance sheet reduction and holds line on rates Japan's benchmark Nikkei 225 index tumbled 3.1 per cent, as trading opened on Monday after a week of unrest across global markets. Hong [...]
KPMG downgrades UK economic growth forecast for 2019 due to Brexit March 25, 2019 Audit firm KPMG has downgraded its short term expectations for the UK economy due to the lack of clarity around Brexit and global headwinds. The firm forecasts that the UK economy will expand by 1.2 per cent in 2019, assuming that a Brexit deal is reached. The predictions are included in KPMG’s latest quarterly Economic [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]
Investor confidence soars to 10-month high despite Brexit uncertainty March 21, 2019 Investor confidence hit a ten-month high in March despite ongoing uncertainty related to Brexit. The Hargreaves Lansdown Investor Confidence Index reached 80 points this month, recovering from a record low of 52 points in December, indicating that the UK’s withdrawal from the European Union is no longer tainting investor sentiment to the same extent. Read [...]
Euro falls as Eurozone growth forecasts slashed March 7, 2019 European Central Bank (ECB) president Mario Draghi today announced a significant downgrade in Eurozone growth predictions as he renewed a stimulus programme of cheap loans to bolster the struggling economy. The ECB predicted that Eurozone GDP would increase only 1.1 per cent in 2019, 0.7 percentage points down from its December 2018 prediction. It forecast growth of [...]
OECD slashes global growth forecasts and warns of no-deal Brexit recession March 6, 2019 Global growth predictions were slashed today as a major economic body warned that a no-deal Brexit would see Britain return to recession. The Organisation for Economic Cooperation and Development (OECD) cut predictions for the UK’s growth to 0.8 per cent in 2019 and 0.9 per cent in 2020. Read more: EU faces the biggest risks [...]