The UK government’s deficit reaches lowest year-to-date since financial crisis but misses expectations February 21, 2017 Government borrowing recorded the biggest January surplus since 2000 and its lowest year-to-date reading since the financial crisis ahead of chancellor Philip Hammond’s first Budget on 8 March, despite a lower-than-expected monthly surplus. With tax receipts in January traditionally far higher than every other month as self-assessment returns come in, the January surplus of £9.4bn [...]
The Eurozone economy heats up to pre-debt-crisis levels as German manufacturing drives growth February 21, 2017 The Eurozone economy has showed signs of heating up, with German manufacturing expanding at the fastest pace since 2011 before a sovereign debt crisis swept through the region, according to a survey closely followed by monetary policymakers. Across the Eurozone the expansion of industry reached an almost six-year high, according to the composite purchasing managers' index [...]
British consumers see no negatives from Brexit despite rising economy fears February 21, 2017 Brexit did not stop British consumer confidence from growing over the past year, despite the economy topping a list of concerns for future prospects, according to a new poll. British consumer confidence at the end of 2016 was marginally higher than a year earlier and far ahead of European average, according to pollsters Nielsen. More than [...]
Fear of Marine Le Pen pushes French government bond yield gap to highest since 2012 February 20, 2017 Renewed fears over the chances of far-right Marine Le Pen winning the French Presidency have pushed the gap between French and German benchmark government bond yields to its widest since 2012. The Franco-German 10-year yield spread widened above 80 basis points on Monday as Le Pen, candidate for the nationalist National Front, continues to benefit in polls. [...]
Greece repays €2bn loan ahead of crunch bailout talks February 20, 2017 Greece has repaid a €2bn loan from its European creditors ahead of a crunch meeting over the terms of its bailout. The repayment is part of the €86bn bailout programme from the “troika” of creditors, the European Central Bank, the European Commission, and the International Monetary Fund (IMF). Bailout administrator European Stability Mechanism (ESM) announced [...]
Demand in UK industry reaches two-year high despite price rises says CBI February 20, 2017 Demand for UK-manufactured goods rose to a two-year high in the three months to February with output expectations rising to their highest since September 2013, according to a survey of industrial firms. More than a quarter of the industrial firms polled reported total orders above normal levels, according to the Confederation of British Industry (CBI). [...]
UK growth smashes developed nations average to sit atop G7 says the OECD February 20, 2017 UK growth smashed the average for advanced economies around the globe at the end of 2016, with expansion slowing across more developed countries. The GDP growth rate amongst the richer countries was 0.4 per cent in the fourth quarter of 2016, according to the Organisation for Economic Co-operation and Development (OECD). OECD nations grew by [...]
German producer price change doubles to set path to consumer inflation breaking ECB target February 20, 2017 Producer price inflation in Germany more than doubled in January as inflationary pressure continues to build in the Eurozone’s largest economy. Factory gate prices rose by 2.4 per cent year-on-year, according to flash estimates by the German Federal Statistics Authority, the fastest pace of inflation for manufacturers since March 2012. German producer prices were falling [...]
Britain must boost investment in skills beyond apprenticeship levy to compete with Europe after Brexit, according to report February 18, 2017 The UK must significantly increase its skills investment beyond plans for the apprenticeship levy if it is to compete with European rivals in the post-Brexit world economy, according to a new report. The government’s new apprenticeship levy will not bring employer investment in skills up to levels seen before the financial crisis, according to the [...]
Prime Minister Theresa May to meet Peugeot boss to discuss Vauxhall takeover deal February 18, 2017 Prime Minister Theresa May will meet the boss of Peugeot SA to discuss the group’s takeover bid for General Motors’ (GM) European operations, including British brand Vauxhall. May has been invited to meet the chair of the managing board of Peugeot SA (PSA), Carlos Tavares, to discuss the deal. A Downing Street spokesperson confirmed there [...]
