UK Economics Correspondent, London
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Jan 27, 2015

British growth slows, but 2014 still fastest in seven years

LONDON (Reuters) – Britain’s economic growth slowed more than expected in the final three months of last year, but with annual growth still at its fastest since 2007 the data gave ammunition to both sides of the political divide heading into May’s election.

Tuesday’s data showed some loss of momentum. Growth in the third quarter fell to 0.5 percent from 0.7 percent in the third, slower than the 0.6 percent growth most private-sector economists had expected in a Reuters poll.

Jan 13, 2015

UK’s Osborne urges ECB to do ‘whatever it takes’ to hit price target

LONDON (Reuters) – Britain urged the European Central Bank to take all necessary steps to fight off the risk of deflation, a week before ECB policymakers meet to discuss whether to embark on an unprecedented government bond buying program.

Finance minister George Osborne, in a speech to be delivered on Wednesday, distinguished between Britain — where inflation has just hit a 14-year low of 0.5 percent — and the euro zone where inflation has been lower for months.

Jan 13, 2015

British inflation tumbles to lowest level in over 14 years

LONDON (Reuters) – British consumer price inflation plunged to its lowest level since May 2000 last month and looks set to fall further, easing a squeeze on consumers and leaving the Bank of England under no pressure to raise interest rates soon.

Reflecting a slide in global oil prices, the rate of consumer price inflation halved to an annual 0.5 percent in December from 1.0 percent in November, the Office for National Statistics said on Tuesday.

Jan 7, 2015

UK car sales to level off after hitting 10-year high

LONDON, Jan 7 (Reuters) – Britons bought nearly 2.5 million
new cars last year, the most in a decade and almost 10 percent
more than in 2013, as economic optimism and cheap finance
cemented the country’s position as the brightest auto market in
Europe.

Sales should rise again this year, but much more slowly as
pent-up demand starts to ebb and motorists face the risk of
higher taxes after May’s national election, an industry body
said.

Jan 7, 2015

MP criticises overseers of Bank of England during crisis

LONDON (Reuters) – Officials charged with overseeing the Bank of England failed to hold the central bank to account during the 2007-09 financial crisis and may have made matters worse, a senior MP said on Wednesday.

The central bank published nearly 500 pages of minutes of meetings of its Court, a body which was meant to help set strategic direction and act as a check on its governor, who at the time of the crisis was Mervyn King.

Jan 7, 2015

Lawmaker criticises overseers of Bank of England during crisis

LONDON, Jan 7 (Reuters) – Officials charged with overseeing
the Bank of England failed to hold the central bank to account
during the 2007-09 financial crisis and may have made matters
worse, a senior British lawmaker said on Wednesday.

The central bank published nearly 500 pages of minutes of
meetings of its Court, a body which was meant to help set
strategic direction and act as a check on its governor, who at
the time of the crisis was Mervyn King.

Jan 6, 2015

UK services growth dips to 19-month low

LONDON (Reuters) – Britain’s economic recovery softened further as growth across services companies slowed sharply during December to its lowest level since mid-2013, a survey showed on Tuesday.

Sterling slipped to a 17-month low against the dollar after the Markit/CIPS UK Services Purchasing Managers’ Index (PMI), a closely-watched monthly survey, suffered its steepest decline in more than three years.

Jan 6, 2015

UK services growth dips to 19-month low – PMI

LONDON, Jan 6 (Reuters) – Britain’s economic recovery
softened further as growth across services companies slowed
sharply during December to its lowest level since mid-2013, a
survey showed on Tuesday.

Sterling slipped to a 17-month low against the dollar after
the Markit/CIPS UK Services Purchasing Managers’ Index (PMI), a
closely-watched monthly survey, suffered its steepest decline in
more than three years.

Jan 2, 2015

UK recovery more lopsided as manufacturing slips

LONDON (Reuters) – Hopes that Britain’s economic recovery will become less reliant on big-spending consumers ebbed further on Friday as data showed manufacturing growth weakened at the end of last year while lending to individuals soared.

Sterling hit a 16-month low after the Markit/CIPS UK Manufacturing Purchasing Managers’ Index, a closely-watched monthly business survey, hit a three-month low in December, missing all forecasts in a Reuters poll.

Jan 2, 2015

UK recovery more lopsided as manufacturing slips, consumer loans soar

LONDON (Reuters) – Hopes that Britain’s economic recovery will become less reliant on big-spending consumers ebbed further on Friday as data showed manufacturing growth weakened at the end of last year while lending to individuals soared.

Sterling hit a 16-month low after the Markit/CIPS UK Manufacturing Purchasing Managers’ Index, a closely-watched monthly business survey, hit a three-month low in December, missing all forecasts in a Reuters poll.

    • About David

      "David keeps a close watch on the UK economy, the Bank of England and the British government debt market. Previously he worked in Frankfurt, covering the European Central Bank and euro zone economy, and in Brussels where he reported on everything from EU summits to Belgian supermarkets."
      Languages:
      English, French, German
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