Rebound in UK services after winter freeze March 30, 2011 THE UK economy bounced back strongly at the beginning of the year, fresh data suggested yesterday. The service sector – which accounts for over three quarters of GDP – expanded by 1.3 per cent in January, compared to December. The rebound marked the sharpest monthly growth in services since July 2002. Meanwhile, there was some [...]
Budget will worsen inflation March 30, 2011 BUDGETARY changes for the coming fiscal year will exacerbate the UK’s spiralling inflation, it was revealed yesterday. Measures such as higher alcohol and tobacco duty will add 0.29 per cent to the consumer price index (CPI) in the fiscal year 2011-12, and 0.37 per cent to the retail price index (RPI), the Office for National [...]
House prices turn upwards in London yet continue to slump in rest of the UK March 30, 2011 LONDON is the first UK region to register a rise in house prices for eight months, the Hometrack monthly national housing survey announced today. While prices across the UK fell by 0.1 per cent in March, in the capital they rose by 0.2 per cent. The upturn was driven by a 25 per cent increase [...]
Labour market recovery boosts optimism on US March 30, 2011 AN ADP report yesterday showed that private employers added 201,000 jobs in March – slightly below consensus expectations for an increase of 208,000 jobs. Small and medium firm payroll growth remained strong in March, adding 102,000 and 82,000 jobs, while large firms added 17,000 jobs. “This indicates continued momentum in the pace of labour market [...]
MP: Financial crisis was due to weak competition March 30, 2011 BARRIERS to entry must be cut in order to promote competition in the banking sector, former City worker Andrea Leadsom MP will say today. A lack of real competition was a key cause of the financial crisis, as market concentration hindered the free entry and exit of banks, Leadsom argues in a report for the [...]
IMF: Japan quake will knock GDP March 30, 2011 Japan’s annual growth forecast was cut from 1.6 per cent to 1.4 per cent by the International Monetary Fund (IMF) yesterday, following the devastating earthquake. The IMF also lowered the outlook for the US, reducing its 2011 forecast to 2.8 per cent, from three per cent. Indian growth prospects were also reduced from 8.4 per [...]
Gambling restrictions criticised March 30, 2011 The UK is losing out on billions of pounds of investment through its “irrational” clampdown on the gambling industry. Harsh gambling regulations are also resulting in pub closures, and, according to the Institute of Economic Affairs, do nothing to reduce gambling addiction.
Drop in German business morale March 30, 2011 German business confidence declined for the first time in nine months in March, the German think tank Ifo said yesterday – although the markets were boosted by the drop being less than expected. While Ifo’s expectations index fell to 106.5 from 107.9 in February, credit constraints are not a problem for German industry, remaining low, [...]
Eurozone sentiment suffers a fall March 30, 2011 Eurozone economic sentiment dropped 0.6 points to 107.3 in March, a European Union survey showed yesterday. Among the seven largest member states, Poland (-3.1 points), Spain (-3 points) and Germany (-0.7 points) experienced drops. The Netherlands (+3.1 points) and the UK (+2.7 points) both recorded increases.
Inflation creeps up in Belgium March 30, 2011 Belgian inflation rose from 3.4 per cent last month to 3.5 per cent this month, official data showed yesterday.
