UK economy: Flat services sector could ease fears of more interest rate hikes although recession fears still loom April 5, 2023 The British services sector continued its recovery from recent woes as it expanded again in March, although more slowly than in February meaning recession still stalks the UK economy. The S&P Global/CIPS UK services PMI survey showed a reading of 52.9 last month, down from a score of 53.5 in February. Experts had forecast that [...]
Just a third of Brits say Starmer has done well on economic trust April 4, 2023 Just a third of Britons believe Sir Keir Starmer has done well at convincing people Labour can be trusted with the economy, a poll by YouGov has revealed. It comes as Labour leader Sir Keir comes to the end of his third year leading the opposition, which he marked by telling the Times newspaper he [...]
Bitcoin holding a steady course above $28k April 4, 2023 Bitcoin has been hovering above the $28,000 level over the last few days, barely moving from $28,150 over 24 hours.
FTSE 100 close: London’s premier index falls as strong performance for miners not enough to tip market into green April 4, 2023 The FTSE 100 closed lower on Tuesday as markets ran out of steam despite a strong performance from many of the index’s mining giants. The capital’s premier index closed 0.5 per cent lower at 7,634.52 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, ended [...]
Let’s face it: Profiteering is feeding the inflation beast, not just pay rises April 4, 2023 Inflation is a pernicious beast that is plainly bad for people and businesses. It can ease governments’ debt burdens by (artificially) boosting tax revenues, but that can lead to severe bouts of price rises that, often, lead to societal decay. So it’s easy to see why policymakers in the UK are sweating over the rate [...]
UK 2023 economic outlook brightens but ‘big gaps’ remain, Deutsche Bank says April 3, 2023 The UK’s economy will to flatline rather than contract in 2023, according to analysts from Deutsche Bank, as last week’s upgrade to GDP for the final quarter of 2022 will likely have a positive knock-on effect for the remainder of this year. The ONS revised its initial GDP reading for the fourth quarter of 2022 [...]
Rishi Sunak’s popularity soars in Tory league table with ‘big jump’ before local elections April 3, 2023 Prime minister Rishi Sunak has seen his popularity soar among the Tory grassroots, a poll has shown. The Conservative Home website’s survey of party membership shows Sunak’s approval ratings have risen from sixth from bottom to sixth from top, in the cabinet league table. In the end of February’s poll, the PM was at just [...]
Bitcoin treads water above $28k as traders anticipate Friday’s inflation numbers April 3, 2023 Bitcoin is changing hands for $28,330 this morning, largely flat on the day, and over seven days as traders await jobs news on Friday.
UK economy on tightrope between recession and growth as exports slip but inflationary pressure eases in March April 3, 2023 Manufacturing fell in March, although fears the UK economy is entering a recession may be premature as inflation eased and average supplier lead times improved. The seasonally adjusted S&P Global /CIPS UK Manufacturing Purchasing Managers’ Index fell to 47.9 in March, down from February’s seven-month high of 49.3 and an earlier flash estimate of 48.0. [...]
Green Day’s Good News: Here are the winners in the energy sector April 3, 2023 Green Day is over - with much of the energy industry disappointed. But there were some winners which City A.M. highlights.