Resilient British consumers grow more confident about personal finances, but see storm clouds ahead for the UK economy December 22, 2016 British consumers have ended the year on a resilient note, with confidence rising despite gloomy forecasts for the economy, according to a long-running survey. Consumer confidence increased in December by one point, driven higher by a positive attitude towards making major purchases such as furniture or white goods, says the index compiled by market research [...]
Eurozone consumer confidence reaches 20-month high December 21, 2016 Europe’s consumers appear to be slowly moving out of a long-term slump as confidence reached a 20-month high. Confidence in the Eurozone increased by 1.1 points to reach minus 5.1 for December, according to flash estimates from the European Commission. A measure below zero indicates net negative sentiment, but the score is well above the [...]
Long-term inflation expectations reach a two-year high of three per cent as Brits start to feel prices rise December 21, 2016 Inflation expectations have jumped to a two-year high as Brits predict it will reach three per cent in five to 10 years, according to a widely followed survey. Long-term expectations this month are up from 2.8 per cent in November, according to the poll by YouGov for Citi. This is the fifth month of increases [...]
UK government deficit rises more than expected and public sector borrowing continues to grow December 21, 2016 The UK government’s debt and budget deficit both rose in November, as borrowing came in higher than expected. The deficit rose to £12.6bn, with borrowing to fund everyday government spending accounting for £9.9bn, according to data from the Office for National Statistics. The government now owes the private sector almost £1.66 trillion, an increase of [...]
Deloitte in humiliating apology to Downing Street for leaked Brexit memo criticising Theresa May December 21, 2016 Deloitte has apologised to the government for the leak of a note that was highly critical of a lack of strategic direction – and has been forced to give up bids for Whitehall contracts, according to reports. The accountancy firm said the note “was not a Deloitte point of view”, while acknowledging the “disruption” it [...]
Save the date: the last Spring Budget will be on 8 March 2017 – before Article 50 December 20, 2016 The next UK government Budget announcement will take place on 8 March 2017, before the government triggers Article 50, the Treasury has announced. Prime Minister Theresa May has outlined plans to notify the EU of the UK's intention to leave by the end of March 2017. Official negotiations with the EU will then commence. Philip [...]
Donald Trump could be the “wildcard” to upset Asia growth in 2017 says Goldman Sachs December 20, 2016 Donald Trump could be a “wildcard” for economic growth across Asia in the coming year, according to Goldman Sachs. The President-elect’s apparent protectionist policies could harm nations relying on exports to the US, but his likely fiscal stimulus is set to drive US growth higher, the bank says in its 2017 macroeconomic outlook. “For a [...]
Single Market access is top priority for EU businesses after UK leaves EU, while 58 per cent see Brexit as a threat December 20, 2016 Access to the UK as part of the Single Market is the highest priority for European businesses in the upcoming Brexit negotiations, a new survey says. Single Market access is the most important factor for 29 per cent of EU businesses with UK operations, according to a poll of 700 business leaders by accountancy firm [...]
Russian hacking is a “fact” in post-truth strategy says UK government minister December 20, 2016 Britain must accept Russian hacking to influence elections in other countries as a “fact”, according to a government minister. Sir Alan Duncan, the minister for Europe and the Americas, also condemned the murder of the Russian ambassador to Turkey as a "heinous attack", saying, "We obviously fully condemn this." Duncan said there was clear evidence [...]
The Nikkei 225 hits 2016 highs and the yen weakens as the Bank of Japan holds interest rates steady December 20, 2016 The Nikkei 225 reached its highest point for over a year and the yen fell against the dollar as the Bank of Japan (BoJ) confirmed that it would hold interest rates as widely expected. The BoJ’s Policy Board maintained its stance of negative interest rates, keeping the rate at minus 0.1 per cent. It also [...]
