UK Economics Correspondent, London
Andy's Feed
Aug 27, 2015

UK annual house price growth lowest since mid-2013 – Nationwide

LONDON, Aug 27 (Reuters) – British house prices rose this
month at the slowest annual pace in more than two years,
according to mortgage lender Nationwide, although it warned the
slowdown might not persist unless house-building picks up
significantly.

House prices rose 3.2 percent year-on-year in August, the
weakest annual rate since June 2013, compared with a 3.5 percent
rise in July.

Aug 22, 2015

Seven killed as jet crashes into cars at UK airshow

LONDON (Reuters) – A jet aircraft ploughed into several cars on a busy road near an airshow in southern England on Saturday, killing at least seven people, police said.

The vintage Hawker Hunter fighter jet crashed onto the A27 road, close to an airport in Shoreham where the airshow was taking place, near the south coast city of Brighton.

Aug 21, 2015

Surging tax take sends UK to first July budget surplus in 3 years

LONDON, Aug 21 (Reuters) – Britain’s public finances
recorded their first July surplus in three years, as the
country’s economic upturn spurred the strongest income tax
receipts for the month since records began in 1997.

Finance minister George Osborne welcomed Friday’s official
figures, which also showed July was the 12th successive month of
falling year-to-date public sector net borrowing, excluding
banks.

Aug 18, 2015

UK inflation inches up in July, core inflation hits five-month high

LONDON (Reuters) – British consumer prices rose in July and core inflation hit a five-month high, triggering market bets on the Bank of England moving slightly faster than previously expected once it starts raising interest rates.

The timing of the first hike remains unclear, however, comments from economists suggested.

Aug 17, 2015

BoE’s Forbes highlights policy paradox for UK rate-setters

LONDON, Aug 17 (Reuters) – Bank of England official Kristin
Forbes has become the latest rate-setter to highlight the bank’s
central dilemma: how to square a strong domestic economy, which
points to higher interest rates, with global disinflationary
forces.

Forbes sent the pound higher against the euro after she
warned Britain’s economic recovery could be damaged if the BoE
waits too long before raising interest rates.

Aug 12, 2015

UK wage growth may level off, muddying rates picture for BoE

LONDON (Reuters) – This year’s rebound in British wage growth risks petering out, potentially wrong-footing the Bank of England as it gets closer to raising interest rates, if omens from labour market data prove correct.

British wages have risen far more slowly in recent years than before the financial crisis, and a move back towards historical rates of increase is one of the main things the BoE is looking for before it starts to tighten policy.

Aug 12, 2015

Analysis – UK wage growth may level off, muddying rates picture for BoE

LONDON (Reuters) – This year’s rebound in British wage growth risks petering out, potentially wrong-footing the Bank of England as it gets closer to raising interest rates, if omens from labour market data prove correct.

British wages have risen far more slowly in recent years than before the financial crisis, and a move back towards historical rates of increase is one of the main things the BoE is looking for before it starts to tighten policy.

Aug 7, 2015

UK trade gap narrows in second-quarter but rebound seen fleeting

LONDON (Reuters) – Britain’s trade deficit with the rest of the world narrowed markedly in the second quarter and looks set to boost economic growth, although analysts warned that the improvement may not last.

Official figures on Friday showed the biggest surge in goods export volumes in more than nine years in the three months to the end of June, while Britain’s total goods and services deficit fell to its lowest level in four years.

Aug 7, 2015

UK trade gap narrows but rebound seen fleeting

LONDON (Reuters) – Britain’s trade deficit with the rest of the world narrowed markedly in the second quarter and looks set to boost economic growth, although analysts warned that the improvement may not last.

Official figures on Friday showed the biggest surge in goods export volumes in more than nine years in the three months to the end of June, while Britain’s total goods and services deficit fell to its lowest level in four years.

Aug 5, 2015

UK rate path steepens before BoE meet, helped by U.S. data and Fed

LONDON (Reuters) – Investors bet on a slightly quicker pace of Bank of England rate hikes on Wednesday, encouraged by signs the United States is on track for a rate hike in September, a day before a major BoE policy meeting.

Gilt yields opened sharply higher after comments overnight from top U.S. Federal Reserve official Dennis Lockhart, who said growth in the world’s biggest economy was on track for him to vote for higher interest rates in September.