Private sector growth robust September 28, 2014 THE PRIVATE sector’s impressive recovery shows no sign of catching a European cold as more firms report rising activity in the three months to September and maintain high levels of optimism. A survey of 817 firms by the Confederation of BritishIindustry found the net per cent of firms (percentage of firms voting yes minus percentage [...]
London leads jobs recovery as capital goes on hiring spree September 25, 2014 London's businesses are driving the UK’s recovery, with official figures yesterday showing the capital has consistently hired more staff across a diverse range of industries than any other part of Britain since the financial crisis struck. Despite the recession and slow recovery from the credit crunch, London firms found the resources to increase the [...]
Euro at two-year low as central banks diverge September 25, 2014 THE EURO yesterday fell to its lowest value against the dollar for two years as strong growth in the US and stagnation in Europe looked likely to force central bankers on either side of the Atlantic in opposite directions. The US plans to end its asset purchases in October while European officials are set to [...]
Sanctions push Russian prices up 7.5 per cent September 25, 2014 Russia’s rate of inflation may exceed 7.5 per cent this year, as foreign and domestic sanctions act to restrict the supply of goods. Russia’s target has been around four per cent since the end of hyperinflation in the early 1990s, but it is highly likely to miss the target this year, according to the head [...]
US economy continues to surge ahead September 25, 2014 THE NUMBER of Americans filing new claims for unemployment benefit increased less than anticipated last week as the US labour market looks to be tightening. Initial claims for unemployment benefit rose 12,000 to 293,000 for the week ending 20 September, according to figures released yesterday by the US Department of Labour. The US central bank, the [...]
Russian growth forecast slashed by World Bank due to sanctions September 24, 2014 RUSSIA had its growth forecasts slashed by the World Bank yesterday due to ongoing geopolitical tensions coupled with a lack of reform. The World Bank forecast 0.3 per cent growth in 2015 and 0.4 per cent in 2016, revised down from 1.5 per cent and 2.2 per cent respectively. Sanctions imposed in response to Russia’s [...]
Japan output on the mend September 24, 2014 THE TURBULENCE from Japan’s sales tax hike in April has subsided and growth has steadied, according to a popular business survey. The Flash Japan Manufacturing Purchasing Managers Index, compiled by Markit, rose to 52.2 in September from 51.7 in August. A value above 50 signifies growth on the month suggesting the recent decline was temporary.
Deficit reduction target at risk as George Osborne borrows £11.6bn in August despite rise in tax revenues September 23, 2014 The UK government had to borrow £11.6bn in August as it failed to slash the budget deficit, putting chancellor George Osborne’s borrowing targets for the year at risk. In his March statement, Osborne aimed to cut £10bn off government borrowing in 2014-15, compared to the year before. But new figures from the Office for National [...]
France at risk of recession with Europe lagging September 23, 2014 The Eurozone is on the brink of another economic dip and France may have fallen into recession, influential survey data showed yesterday. Markit’s purchasing managers’ index (PMI) fell to 52.3 for the Eurozone in September – a new low for 2014. A score of above 50 signifies growth, however, the index has been falling since [...]
China to avoid a hard landing September 23, 2014 CHINA got some positive news yesterday after figures released beat expectations of a worrying August performance. The popular HSBC Purchasing Managers Index, a wide survey of firms, performed much better than expected by rising from 50.2 in August to 50.5 in September as opposed to the Bloomberg consensus of 50.0. The improvements were largely driven [...]
