Sterling hit its lowest level on record last night October 12, 2016 The pound fell to its lowest ever level during yesterday afternoon's brutal sell-off as the currency remains under intense pressure. Sterling, which has been suffering at the hands of nervy traders keeping both eyes on every utterance from Prime Minister Theresa May, hit its weakest mark on the Bank of England's "effective exchange rate index" [...]
Consumer confidence hits pre-referendum levels, but could inflation knock the UK economy off course? September 29, 2016 Brits are feeling just as optimistic about the state of the UK economy as they were before the referendum, a leading indicator has revealed. GfK’s consumer confidence barometer, out today, has bounced back to levels last seen in May and June, before the UK’s historic vote to leave the EU sent the index crashing at [...]
US economy set to feast out on super-size food exports September 29, 2016 The US economy is set to come roaring back to life in the second half of the year on the back of a bumper summer food harvest. Figures out this afternoon showed the world's largest economy grew by 1.4 per cent on an annualised basis in the second quarter of the year – a slight upwards [...]
Consumer spending eases back after summer splurge September 27, 2016 UK shoppers cut back in September following a summer splurge, though it has not dented the confidence of retailers, a new survey has found. The CBI’s distributive trades survey found 38 per cent of shops said sales volumes were down on September last year, while 30 per cent reported growth. The score of minus eight [...]
Supermarket sales continue to edge upwards in the months following the Brexit vote September 20, 2016 Supermarket sales continued to edge upwards this month, increasing by 0.3 per cent for the three months ending 11 September. The growth was against a backdrop of price deflation of 1.1 per cent. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: “While overall sales growth has been slow, consumers have been keen [...]
UK inflation flattened out in August September 13, 2016 Inflation remained flat at 0.6 per cent in August, still way below the Bank of England's two per cent target, official figures have shown. Figures from the Office for National Statistics (ONS) showed the consumer price index (CPI) missed expectations of a 0.7 per cent rise. “Fuel costs falling more slowly than a year ago as well [...]
The chancellor’s fiscal reset is a golden opportunity to slash living costs through tax cuts and planning reform September 5, 2016 Philip Hammond recently said that he may use the Autumn Statement to “reset” fiscal policy. That is a welcome sentiment because it suggests the chancellor sees before him a golden opportunity to transform the tax system. With Parliament returning, we are likely to see the government start to formulate and publicise more detailed economic policy [...]
Supermarket sales creep upwards as grocers benefit from the summer sun August 23, 2016 Grocery sales edged up this summer as sunny weather encouraged shoppers to spend. According to data from Kantar Worldpanel, supermarket sales increased by 0.3 per cent in the 12 weeks to 14 August – the fastest growth in the grocery market since March this year. There is no evidence yet to suggest the Brexit vote [...]
Inflation hits eight-month high in Eurozone August 18, 2016 Prices are rising at their fastest rate in eight months across the Eurozone. Inflation came in at 0.2 per cent for the month of July, up from 0.1 per cent in June and in line with previous estimates. Although only modest, the figures crystallise the single currency bloc's exit from deflation after four consecutive months earlier [...]
Adjusting inflationary increases in pension scheme payments could be the key to solving FTSE 100 deficits, says report August 17, 2016 Two-thirds of FTSE 100 pension deficits could be wiped out if the inflationary increases attached to schemes were changed. The estimated pension deficits of the UK's blue-chip companies stood at £46bn at the end of July 2016 according to a report compiled by Lane, Clark & Peacock (LCP). Scheme pay-outs are typically increased by inflation each year, [...]