By: Jake Cordell

I'm City A.M.'s economics reporter, looking at the news, stories and data that move markets in the UK, Europe and around the globe. I also cover broader developments in the business and political worlds at home and abroad.

Big ticket purchases help shore up consumer confidence

Consumer confidence is still holding steady following the EU referendum, defying expectations of a freeze in spending. The GfK consumer confidence index, out today, came in at minus three in October, down slightly from minus one last month, but holding well above the minus nine recorded in the weeks immediately after the vote. GfK also found [...]
Autumn Statement 2016: What do strong GDP figures mean for Philip Hammond’s first spending spree?

Next month's Autumn Statement may not be the mighty spending spree some had expected, as today's expectation-beating GDP figures could prompt a rethink inside the Treasury about how far they need to go. Chancellor Philip Hammond has promised a fiscal reset, although growth of 0.5 per cent in the third quarter is significantly up on economists' forecasts and [...]
What do today’s GDP figures mean for UK interest rates?

The Bank of England looks set to delay another bout of emergency stimulus next week after this morning’s strong GDP figures. The Office for National Statistics (ONS) said the UK grew by a robust 0.5 per cent this morning, defying already-revised expectations of a 0.3 per cent gain in the first three months after the [...]

Growth smashes expectations and Nissan is investing here, but the pound still marches lower

October 27, 2016

Expectation-busting growth figures, a new commitment to build cars in the UK, and diminishing chances of an interest rate cut this year weren't enough to stop the pound falling into familiar patterns today. Sterling suffered its customary afternoon sell-off yet again as the currency lost 0.6 per cent against the dollar, falling below $1.22 in afternoon trading. It [...]
Headache for ECB chief Mario Draghi as lending fails to light up

October 27, 2016

The European Central Bank (ECB) may be forced to delay winding down its massive bond-buying programme after disappointing figures out from the Eurozone this morning. Stats on lending published by the ECB showed the amount of cash dished out to households and businesses grew by only 1.8 per cent in the year to September. That was [...]
Wallonia deadlock broken, putting EU-Canada trade deal back on track

October 27, 2016

The Belgian government has finally struck a deal with regional representatives from Wallonia to push forward with the landmark EU-Canada trade deal this morning. After a week of talks and multiple failures to negotiate a settlement, the news puts the EU back on course to formally sign the Comprehensive Economic and Trade Agreement (Ceta) with [...]
The Big Bang 30 years on: How the City of London has changed since 1986

October 26, 2016

Nothing stands still in the City. The world's financial services powerhouse has seen it all, from boom and bust to bouncebacks and Brexit. Its skyline has changed almost beyond recognition over the last three decades, as have the markets it serves. As we mark the 30th anniversary of the so-called Big Bang, we cannot help [...]
Living wage boost secures inflation-busting pay rises

October 26, 2016

Pay packets grew for only the second time since the financial crisis last year, as low-paid workers earned a bumper pay boost as a result of the new national living wage (NLW). Across the UK, pay rose by 2.2 per cent in the year to April 2016, the Office for National Statistics (ONS) said this [...]
UK missing out on £45bn millennials dividend

October 26, 2016

The UK could be £45bn richer if more young people were in work or education, a new report has claimed. Consultants at PwC also found the UK lags most of the world’s major economies in terms of the opportunities available to young people, which could be stifling economic growth. Britain comes in 21st out of [...]
Mark Carney says political attacks on Bank of England knock the pound

October 25, 2016

Mark Carney has warned that threats to the Bank of England’s independence could see sterling slump even further and cause investors to flee UK assets. The Threadneedle Street governor told Lords on the economic affairs committee this afternoon that central bank independence had “stood the test of time” and could not be “called into question” [...]

Subscribe