Eurozone back in inflation for first time in five months June 30, 2016 Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]
Brexit blues: Consumers say they’ll be saving in the coming months as analysts predict a spending squeeze for Brexit Britain June 29, 2016 Brexit is already starting to bite for consumers, with the some of the first insights into post-referendum attitudes showing that Brits are convinced their livelihoods will be hit and predictions that UK spending will be squeezed. Sixty-one per cent of consumers are worried about the future of the UK economy and think Brexit will negatively impact their [...]
The fashion industry has slumped into negative growth for the first time in six years June 29, 2016 The fashion industry is in negative growth for the first time in six years, as the high street struggles with retail failures and declining footfall. Figures from Kantar Worldpanel show a 0.1 per cent fall in the spend on fashion goods such as clothing, footwear and accessories in the year to 5 June. Read more: 2016 set [...]
Here’s how the supermarkets were doing just before the Brexit vote June 28, 2016 In the immediate run-up to the EU referendum, supermarket sales were strong, according to data released today, but in the three month period before the vote, sales slipped. The figures from Nielsen show that in the four weeks ending 18 June, UK supermarkets had their first increase in year-on-year takings since July 2015. Sales were up 0.4 [...]
Asda Income Tracker shows average UK household’s discretionary income rose to record level in May 2016 June 21, 2016 UK households had more money at their disposal in May than any other month over the last eight years, according to new data from Asda – but the supermarket warned that uncertainty around this week's EU referendum makes it hard to predict how income will fare in future. Discretionary income was up to £201 per week in [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Brexit and the pound: How hard will battered sterling hit our economy? June 21, 2016 The pound has strengthened as the latest polls show public feeling has swung towards a remain vote this Thursday. Sterling rose 2.3 per cent to $1.4693, the biggest one day gain in over seven years. The last time it rose this sharply was 12 September 2008, days before Lehman Brothers filed for bankruptcy. “Three polls over [...]
Inflation holds steady for another month but economists expect movement after 23 June – whatever the result June 14, 2016 Inflation remained stuck near record lows in May as cheaper clothes, food and entertainment offset the effects of rising fuel costs. Prices went up by 0.3 per cent over the year, as measured on the consumer prices index (CPI), according to figures released by the Office for National Statistics (ONS) this morning. That was unchanged from [...]
Before the bell: What you need to know before the US market open June 9, 2016 South Korea has unexpectedly cut its interest rates, while New Zealand's central bank remains on hold. In China consumer prices rose less than expected, muting economist hopes that the economy is stabilising earlier in the week. Here's what you need to know before the US markets open at 2:30pm London time. US futures are pointing downwards. The S&P is [...]
Brexit could cut sterling by 15 per cent and cost 800k jobs, says Treasury May 23, 2016 A vote to leave the European Union could see the UK's economy hit by a recession, a spike in inflation and a rise in unemployment, according to government figures. While business secretary Sajid Javid earlier warned that 500,000 jobs would be at risk, Treasury figures now estimate that in a "severe shock" scenario, unemployment would rise by around [...]