UK Economics Correspondent, London
Andy's Feed
Mar 31, 2015

UK growth revised higher at end of 2014, boosted by exports

LONDON (Reuters) – Britain’s economy expanded at a faster pace than previously thought at the end of last year, helped by strong growth in exports, a boost for Prime Minister David Cameron before a national election on May 7.

Finance minister George Osborne also seized on data on Tuesday that showed household incomes rising at the fastest annual pace in more than four years.

Mar 26, 2015

UK retail sales improve in Feb, boding well for economy

LONDON, March 26 (Reuters) – British retail sales rose at
the fastest pace in three months in February, beating
expectations and suggesting Britain’s consumer-led economic
recovery remains strong ahead of national elections in May.

Retail sales rose 0.7 percent last month, their best growth
since November and up from 0.1 percent in January, the Office
for National Statistics said on Thursday. Economists polled by
Reuters had expected growth of 0.4 percent.

Mar 24, 2015

Scotland’s Salmond targets Westminster seat for next nationalist push

INSCH, Scotland (Reuters) – Scotland may have said ‘No’ to independence last year, but Alex Salmond, who has campaigned for 30 years to break away from the United Kingdom, believes a tie-breaker British election next month could offer a chance to put the question again.

Since Scots voted 55-45 percent to preserve the United Kingdom in last September’s referendum, the country has seen a surge in nationalism. At the same time Britain’s two biggest political parties Labour and the Conservatives are neck and neck, watching a wider disaffection splinter their support.

Mar 24, 2015

Britain sees no inflation in Feb for first time on record

LONDON (Reuters) – British inflation vanished last month, hitting zero for the first time on record, official figures showed on Tuesday.

The annual rate of consumer price inflation dropped to zero percent, from 0.3 percent in January, the Office for National Statistics said, keeping a rate rise by the Bank of England firmly off the table for now.

Mar 20, 2015

UK public finances improve in February, leaving Osborne on course for target

LONDON (Reuters) – Chancellor George Osborne could beat his government borrowing target for this year after public finances improved sharply last month, bolstering his pitch to voters ahead of a national election in May.

The Office for National Statistics said public sector net borrowing, which excludes state-controlled banks, totalled 6.9 billion pounds in February, down 34 percent from a year earlier.

Mar 20, 2015

UK public finances improve, leaving Osborne on course for target

LONDON (Reuters) – Chancellor George Osborne could beat his government borrowing target for this year after public finances improved sharply last month, bolstering his pitch to voters ahead of a national election in May.

The Office for National Statistics said public sector net borrowing, which excludes state-controlled banks, totalled 6.9 billion pounds in February, down 34 percent from a year earlier.

Mar 20, 2015

Think tank sees “remarkable” change of tack by Osborne

LONDON (Reuters) – Chancellor George Osborne has shown a “remarkable” change of approach on public finances, a leading think tank said on Thursday, a day after Osborne scaled back his austerity plans for the end of the decade.

Paul Johnson, head of the Institute for Fiscal Studies, said the eye-catching fiscal number in a pre-election budget announced by Osborne on Wednesday was a big cut to the size of a budget surplus in the 2019/20 financial year.

Mar 19, 2015

UK think tank sees ‘remarkable’ change of tack by Osborne

LONDON (Reuters) – British Chancellor George Osborne has shown a “remarkable” change of approach on public finances, a leading think tank said on Thursday, a day after Osborne scaled back his austerity plans for the end of the decade.

Paul Johnson, head of the Institute for Fiscal Studies, said the eye-catching fiscal number in a pre-election budget announced by Osborne on Wednesday was a big cut to the size of a budget surplus in the 2019/20 financial year.

Mar 12, 2015

Sterling strength could keep UK inflation low: BoE’s Carney

LONDON (Reuters) – Bank of England Governor Mark Carney signaled on Thursday he was in no rush to raise interest rates, saying the impact of sterling’s rise and low global inflation could last for some time.

Carney said the Bank expected to make limited and gradual increases in rates over the next three years as inflation returned to target within two years, even though it fell to 0.3 percent in January.

Mar 12, 2015

Sterling strength could keep UK inflation low – Carney

LONDON (Reuters) – Bank of England Governor Mark Carney signalled on Thursday he was in no rush to raise interest rates, saying the impact of sterling’s rise and low global inflation could last for some time.

Carney said the Bank expected to make limited and gradual increases in rates over the next three years as inflation returned to target within two years, even though it fell to 0.3 percent in January.