Economics Correspondent
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Jul 8, 2013

Trio of surveys point to strengthening UK economy

LONDON (Reuters) – Optimism about Britain’s recovery outlook grew on Tuesday as a trio of surveys flagged rising house prices, improved business confidence and steady growth in retail sales.

The Royal Institution of Chartered Surveyors’ house price balance jumped to +21 in June from +5 in May – the best reading since January 2010 and the biggest improvement in a single month since 2009.

Jul 3, 2013

Robust UK data dims case for more monetary stimulus

LONDON, July 3 (Reuters) – Britain’s service sector put in a
stellar performance in June, suggesting the economy is
recovering faster than expected and dimming talk that new Bank
of England Governor Mark Carney may want to push quickly for
more monetary stimulus.

Adding to the brighter economic news that has dominated
Carney’s first week in office were separate surveys showing
subdued inflation and rising demand for credit.

Jul 2, 2013

Bank of England policymakers to press on with bank leverage rule

LONDON (Reuters) – Bank of England policymakers said on Tuesday they would press ahead quickly with a new curb on banks’ risk exposure based on their leverage, despite industry lobbying against the plan.

Paul Tucker, the central bank’s deputy governor for financial stability, told British lawmakers that the new rule should be introduced now.

Jul 2, 2013

BoE policymakers to press on with bank leverage rule

LONDON (Reuters) – Bank of England policymakers said on Tuesday they would press ahead quickly with a new curb on banks’ risk exposure based on their leverage, despite industry lobbying against the plan.

Paul Tucker, the central bank’s deputy governor for financial stability, told British lawmakers that the new rule should be introduced now.

Jun 12, 2013

UK job market perks up in latest sign of recovery

LONDON (Reuters) – Fewer Britons claimed unemployment benefit in May than at any time in the last two years although wages clawed back only a bit of ground lost to inflation, data showed on Wednesday.

In the latest sign the British economy is shrugging off two years of stagnation, the number of people claiming jobless benefit dropped by 8,600 last month, its seventh consecutive fall. A Reuters poll had forecast a decline of 5,000.

Jun 11, 2013

Britain’s recovery strengthens, house prices rise

LONDON (Reuters) – British house prices are rising at their fastest pace in three years and the country’s lagging industrial sector is now contributing to the economy’s recovery, data showed on Tuesday.

After a surprisingly strong services survey last week, the figures suggest incoming Bank of England chief Mark Carney will inherit an economy already on the way to what he has termed “escape velocity”.

Jun 3, 2013

British manufacturing registers two-month expansion

By David Milliken and Christina Fincher

LONDON, June 3 (Reuters – A strong rise in new orders helped British manufacturing grow at its fastest pace in over a year last month, a survey showed on Monday, and revised data for April meant UK factories have now had a two-month expansion.

Weak lending data from the Bank of England, however, highlighted the ongoing challenges facing the economy.

May 22, 2013

Plunge in UK retail sales points to fragile economy

LONDON, May 22 (Reuters) – British retail sales dropped at
their sharpest pace in a year last month, a reminder of weakness
in the country’s economy after some recent signs of recovery.

Sales of food plunged 4.1 percent from March, the worst
showing in almost two years.

May 21, 2013

Inflation falls in April, giving more leeway for stimulus

LONDON (Reuters) – Inflation fell twice as fast as expected last month, giving incoming Bank of England governor Mark Carney more leeway to support the economy with more stimulus should the recovery weaken.

Inflation eased to 2.4 percent from 2.8 percent in March, with almost half of that drop coming from weaker petrol and diesel costs. The pound fell and British government bonds rose after the figures.

May 21, 2013

British inflation falls in April, giving more leeway for stimulus

LONDON, May 21 (Reuters) – British inflation fell twice as
fast as expected last month, giving incoming Bank of England
governor Mark Carney more leeway to support the economy with
more stimulus should the recovery weaken.

Inflation eased to 2.4 percent from 2.8 percent in March,
with almost half of that drop coming from weaker petrol and
diesel costs. The pound fell and British government bonds rose
after the figures.

    • About Christina

      "Christina Fincher is an economics correspondent based in London. She joined Reuters 12 years ago and has spent much of that time covering financial markets -- foreign exchange, fixed income and credit. Prior to that she worked as a translator for FT Information, where she worked with both French and Italian."
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