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Montevideo, August 16th 2017 - 17:24 UTC

Tag: UK economy

  • Thursday, July 27th 2017 - 10:29 UTC

    UK expands 0.3% in second quarter, but it is a “notable slowdown” from last year

    Chancellor Philip Hammond said the UK economy had now grown consistently for four-and-a-half years. “We can be proud of that, but we are not complacent”

    United Kingdom economic growth edged slightly higher in the three months to June, as a stronger service sector offset weaker manufacturing and construction. The Office for National Statistics (ONS) said the economy expanded by 0.3% in the quarter, up from 0.2% in the previous three months, but added there had been a “notable slowdown” from last year.

  • Wednesday, July 19th 2017 - 09:18 UTC

    Deeper slowdown for UK economy ahead, anticipate business research centers

    Consumer spending has been a key driver of UK economy, but household spending has come under growing  pressure from higher inflation and sluggish wage growth.

    The UK economy is on course for an even deeper slowdown as consumer spending and business investment take a hit from uncertainty surrounding the Brexit negotiations, new research has found. Britain’s GDP is expected to drop from 1.8% growth last year to 1.5% in 2017 and to 1.4% in 2018, according to PwC’s UK Economic Outlook.

  • Wednesday, July 5th 2017 - 07:30 UTC

    Britain's growth prospects downgraded because of “newly created uncertainty”

    The 2018 forecast reflects ”newly created political uncertainty”, lower business investment because of Brexit and weaker consumer spending.

    Economists have downgraded Britain’s growth prospects in the wake of political uncertainty following the general election and as a prolonged Brexit drag on business investment looms. New forecasts by the Centre for Economics and Business Research (Cebr) show that the UK economy will grow by just 1.3% in 2017, a substantial downward revision from an earlier forecast of 1.7%.

  • Friday, May 26th 2017 - 08:02 UTC

    UK economy losing momentum as Brexit impact begins to be felt

    Although employment remains at a record high, the UK economy has lost a lot of its momentum of last year as the impact of Brexit has started to be felt.

    Britain's economy slowed more sharply than first thought in early 2017 as consumers felt the hit from the rise in inflation that followed the Brexit vote and exporters struggled to benefit from the weak pound. Thursday's downbeat official data - which contrasts with signs of acceleration in many other economies - comes two weeks before Britons vote in a national election.

  • Thursday, April 20th 2017 - 03:00 UTC

    How effectively has the strong UK economy delivered? May and Corbyn debate

    Mrs May told MPs: “There are three things a country needs, a strong economy, strong defence and strong, stable leadership”

    How strong is the UK economy? The issue was debated between Theresa May and opposition leader Jeremy Corbyn during Prime Minister's Questions in the House of Commons shortly before the Wednesday vote confirming the June 8 election.

  • Tuesday, April 11th 2017 - 15:30 UTC

    UK on the verge of an export and spending boom, anticipates the EY Item Club

    “UK economy has been adjusting to life outside the EU since the referendum. Recent data suggest that the pound’s depreciation has boosted manufacturing”

    Britain is on the verge of an export and spending boom as economists rule out the likelihood of a slowdown this year. Strong global growth combined with the weak pound is expected to send overseas sales soaring, giving businesses the confidence to ramp up investment.

  • Thursday, April 6th 2017 - 14:59 UTC

    UK services sector grows stronger than expected during March

    The services sector, which accounts for three-quarters of the UK economy, said business activity and new work grew at the strongest rate so far this year.

    Activity in the UK's dominant services sector rose at a faster-than-expected pace in March. The Markit/CIPS purchasing managers' index (PMI) for services rose to 55, compared with economists' expectations of a slight increase to 53.5. The services sector, which accounts for three-quarters of the UK economy, said business activity and new work grew at the strongest rate so far this year.

  • Friday, March 17th 2017 - 07:15 UTC

    Bank of England cautiously leaves interest rates at the record low of 0.25%

    Carney has emphasized his rate-setting board's willingness to ignore a certain level of above-target inflation prompted by the sharp plunge in sterling of around 18%

    The Bank of England (BOE) held interest rates at the record low level of 0.25% and maintained asset purchases at £435 billion on Thursday. The decision, which was made by an 8-1 majority, had been almost unanimously anticipated by central bank watchers with many expecting the BOE to choose caution until more clarity emerges on the Brexit process and the U.K. economy's capacity to manage outside of the European Union.

  • Saturday, January 28th 2017 - 12:00 UTC

    Consumer spending helps UK economy surprise and grows faster than expected in 2016

    The figure indicates that the feared economic slowdown following the Brexit vote has not materialized.

    Strong consumer spending helped the UK's economy to grow faster than expected at the end of last year. The economy grew by 0.6% in the October-to-December period, the same rate as in the previous two quarters, according to an initial estimate from the Office for National Statistics.

  • Friday, August 5th 2016 - 12:07 UTC

    UK admits economy contraction and announces a bold package of stimulus measures

    Bank of England also announced a program of cheap lending to banks to make sure they are financially able to in turn lend to people and businesses at low rates.

    The Bank of England has unveiled a series of stimulus measures in the wake of Brexit, including its first interest rate cut since the global financial crisis (2009), as it tries to jumpstart an economy shocked by Britain’s vote to leave the European Union.