Manufacturing activity grows at fastest pace in 16 years January 4, 2011 Manufacturing activity grew at its fastest pace in over 16 years in December and firms’ costs rose at a record pace, suggesting at least one sector of the economy may be ready for higher interest rates before the end of 2011. The Markit/CIPS manufacturing Purchasing Managers’ Index (PMI) rose to 58.3 in December, its highest [...]
US consumer spending up but jobless claims remain high December 23, 2010 US CONSUMERS spent more in November for a fifth consecutive month while incomes also rose slightly more than expected, according to the latest government data. Spending rose 0.4 per cent after increasing by an upwardly revised 0.7 per cent in October, the Commerce Department said, reinforcing views of a solid economic growth pace in the [...]
What the other papers say this morning December 22, 2010 FINANCIAL TIMES PATTEN TOPS LIST TO CHAIR BBC TRUST Six people are on the shortlist to be the next chairman of the BBC Trust, according to two insiders who have seen the document. Lord Patten, former Conservative party chairman and the last governor of Hong Kong, is clear favourite. But Sir Howard Davies, director of [...]
Relapse for consumer confidence in the Eurozone, as trade deficit grows December 20, 2010 HOPES for a retailing resurgence across the Eurozone took a hit yesterday, with news that consumer confidence has dropped more sharply than expected. In November the confidence index rose to a 35-month high, yet appears set to drop in December, according to the European Commission’s “flash” reading. The full reading for the month will be [...]
Inflation expectations at two year high December 16, 2010 Britons expect a higher rate of inflation over the coming year than at any time since August 2008, suggesting concern about a looming sales tax rise and rising food prices, a Bank of England survey showed on Thursday. The Bank’s November inflation attitudes survey showed that the public expect inflation of 3.9 per cent over [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2010 FINANCIAL TIMES SIENNA MILLER CLAIMS REIGNITE HACKING ROW Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE [...]
Factory boost for America’s slow recovery December 15, 2010 BROAD based rises in consumer prices and manufacturing were warmly received in the US yesterday, following the Federal Reserve’s final meeting of the year on Tuesday. Positive industrial production figures offer hope for the American economy as it stutters towards recovery. Overall production rose 0.4 per cent in November, despite a huge drop in automobile [...]
Inflation hits highest level in six months December 14, 2010 ABOVE target inflation rose further in November, jumping higher than economists expected, official data showed yesterday. The news cast further doubt over the Bank of England’s loose policy and monetary stimulus. “Another round of quantitative easing was always a long shot and this will reduce the odds still further,” said economist Andrew Goodwin of the [...]
Boost for US retailers as strong holiday sales offer hope for American recovery December 14, 2010 THE Fed’s second phase of quantitative easing (QE2) came under attack yesterday, after jumps in retail sales, business morale and inflation. Retail sales for November increased by 0.8 per cent, and figures for the previous month were revised upwards to show a 1.7 per cent rise. “Today’s figures suggest that QE2, announced on 3 November, [...]
Inflation rises to six-month high December 14, 2010 Consumer price inflation rose unexpectedly to a six-month high of 3.3 per cent in November, driven by rises in the cost of food and clothing, according to the Office for National Statistics. The figures will disappoint Bank of England policymakers who are concerned that rising commodity prices may aggravate the impact of a rise in [...]