UK Economics Correspondent, London
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May 20, 2015

UK inflation negative for first time since 1960; BoE says temporary

LONDON (Reuters) – Britain’s annual rate of consumer price inflation fell below zero for the first time in more than half a century, official figures showed on Tuesday, though Bank of England Governor Mark Carney said the dip was likely to be brief.

British finance minister George Osborne also said the drop did not amount to “damaging deflation”, referring to a spiral of falling prices that hurt the economy.

May 19, 2015

UK inflation negative for first time since 1960, seen temporary

LONDON (Reuters) – Britain’s annual rate of consumer price inflation fell below zero for the first time since the 1960s, official figures showed on Tuesday, though economists said the dip into deflationary territory was likely to be brief.

British finance minister George Osborne also uickly said the drop did not amount to “damaging deflation,” referring to a scenario in which falling prices become entrenched and hurt the economy.

May 19, 2015

UK inflation negative for first time since 1960

LONDON (Reuters) – Britain’s annual rate of consumer price inflation fell below zero for the first time since the 1960s, official figures showed on Tuesday, though economists said the dip into deflationary territory was likely to be brief.

British finance minister George Osborne also uickly said the drop did not amount to “damaging deflation,” referring to a scenario in which falling prices become entrenched and hurt the economy.

May 8, 2015
via MacroScope

From 1992 … Why the UK pollsters got it wrong

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Pollsters failed dismally to predict the strength of support for Prime Minister David Cameron’s Conservatives in this week’s national election — just as happened in 1992 when John Major scored an unexpectedly decisive victory. Here’s Reuters’ take on why the polling industry got it so wrong, 23 years ago.

Why the pollsters got it wrong

By Maggie Fox

10 April 1992

LONDON, April 10, Reuter – Pollsters, egg dripping from their faces on Friday after failing to predict the Conservative Party’s election victory, blamed a last-minute change of heart by voters for the surprise.

May 8, 2015

Scottish nationalists crush opponents, setting stage for new indepedence bid

GLASGOW/ABERDEEN (Reuters) – Scottish nationalists rampaged to victory north of the border in Britain’s national election, obliterating their opponents and setting the stage for a new battle over independence.

In an epic performance, the Scottish National Party (SNP) ousted the leader of the Labour party in Scotland, defeated a senior Labour figure in Paisley, and took former Prime Minister Gordon Brown’s onetime stronghold in Kirkcaldy.

May 1, 2015

British manufacturing cools before closely fought election

LONDON, May 1 (Reuters) – British manufacturing growth
slowed sharply in April, a survey showed on Friday, underlining
the uneven nature of an economic recovery that is at the heart
of a national election just six days away.

Separate data showed consumer lending rising sharply,
suggesting that the recovery is being driven by spending.

Apr 29, 2015

UK house price growth hits 10-month high in April

LONDON (Reuters) – British house prices rose in April at the fastest monthly pace since last June, a survey from mortgage lender Nationwide showed on Wednesday, in another sign the housing market might be starting to regain momentum.

Nationwide said house prices rose 1.0 percent in April, topping all forecasts in a Reuters poll of economists and compared with growth of 0.1 percent in March.

Apr 29, 2015

UK house price growth hits 10-month high in April -Nationwide

LONDON, April 29 (Reuters) – British house prices rose in
April at the fastest monthly pace since last June, a survey from
mortgage lender Nationwide showed on Wednesday, in another sign
the housing market might be starting to regain momentum.

Nationwide said house prices rose 1.0 percent in April,
topping all forecasts in a Reuters poll of economists and
compared with growth of 0.1 percent in March.

Apr 28, 2015

Sterling dips after UK growth data falls short

LONDON (Reuters) – Sterling fell from seven-week highs against the dollar on Tuesday after data showed the UK economy grew slower than expected in the first quarter.

The slide in quarterly gross domestic product growth to 0.3 percent — half that of the last three months of last year and below forecasts of 0.5 percent — quelled any expectations for a rise in interest rates this year.

Apr 21, 2015

Insight – New risks as young Londoners priced out of housing market

LONDON (Reuters) – Last weekend, London couple Vicki Clayton and James Renhard left behind cramped bedrooms that smelt of smoke, housemates who stole their food and a landlord who kept his deposit, and moved into a rented flat of their own.

Buying a home is not an option.

“I don’t know where the extra money to put away for a deposit is going to come from,” said Renhard, 34, a law graduate who works as a website editor. “Aside from a mystery benefactor or a lottery win.”