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May 23, 2013

Micro-breweries give cheer to British beer drinkers

BRENTWOOD, England (Reuters) – Britain’s love affair with quirkily named real ales and their demand for locally produced goods has led to a growing trend in micro-breweries that cater to the more discerning palate.

More than 1,000 brewers now operate across the country compared to just over 800 in late 2011, some working out of little more than a large garage but competing for drinkers with giants such as SABMiller and Greene King in a 16.5 billion pound ($24.82 billion) industry.

May 15, 2013
via MacroScope

Mervyn King’s economic ray of light may be too bright

In his valedictory Quarterly Inflation Report, Bank of England Governor Mervyn King shone a ray of light on the British economy, saying it should grow 0.5 percent in the current quarter.

But according to the latest Reuters poll of more than 30 economists, published on Tuesday, that might be too optimistic.

May 15, 2013

Chance of more BoE asset buys falling as outlook brightens – Reuters poll

LONDON (Reuters) – Britain’s economy will fare slightly better than previously thought this year, reducing the chance of more asset purchases by the Bank of England, a Reuters poll found on Tuesday.

The poll of 61 economists, taken in the past week, predicted growth of 0.8 percent this year, a marginal improvement on the 0.7 percent forecast in an April poll and quashing fears of an unprecedented triple-dip recession.

May 8, 2013

Sterling to pare recent gains as economy struggles: Reuters poll

LONDON (Reuters) – Sterling will pare recent gains in coming weeks and has little chance of returning to January’s 16-month dollar high given the Bank of England is likely to print more money to support the moribund economy, a Reuters poll found.

Britain avoided a triple-dip recession in the first three months of the year but continued weak data has failed to dispel expectations for more policy easing from the central bank.

May 6, 2013

Euro zone business downturn points to deeper recession in Q2 – PMI

LONDON (Reuters) – The euro zone’s business downturn dragged on in April, suggesting the region may be falling deeper into recession this quarter, business surveys showed on Monday.

The purchasing managers indexes (PMIs) also showed that Germany is now suffering a contraction in business activity that has long dogged France, Italy and Spain.

May 6, 2013

Euro zone business downturn points to deeper recession in second-quarter: PMI

LONDON (Reuters) – The euro zone’s business downturn dragged on in April, suggesting the region may be falling deeper into recession this quarter, business surveys showed on Monday.

The purchasing managers indexes (PMIs) also showed that Germany is now suffering a contraction in business activity that has long dogged France, Italy and Spain.

May 2, 2013

Struggling factories underline fragility of world growth

LONDON/BEIJING (Reuters) – Manufacturing across the world stumbled last month, underlining the fragility of the global economy and building the case for more action from leading central banks.

Gloomy purchasing managers indexes – surveys of factory activity that correlate strongly with economic activity – added to a string of other economic data that has already soured optimism that a budding pickup in the world economy will flower.

May 2, 2013

Euro zone factory downturn deepens as Germany struggles: PMI

LONDON (Reuters) – The rot spreading through euro zone manufacturers persisted through April, a business survey showed, bolstering expectations for an interest rate cut by the European Central Bank later on Thursday.

Of further concern for policymakers, factory activity in Germany, Europe’s largest economy and the world’s second-biggest exporter after China, fell for the second month and at a faster pace than in March.

Apr 22, 2013

Euro zone laggards face long wait for recovery: Reuters poll

LONDON (Reuters) – The struggling economies of Greece, Portugal and Spain will probably not grow again until next year and former Celtic tiger Ireland is likely to purr rather than roar, a Reuters poll suggested on Monday.

The poll of around 40 economists, taken in the past week, showed tough austerity measures are still hampering the four euro zone economies. With unemployment expected to rise further, there is little hope for substantial near-term growth.

Apr 11, 2013

Britain seen just missing triple-dip recession – Reuters poll

LONDON (Reuters) – Britain’s beleaguered economy will narrowly miss a triple-dip recession but with growth this year likely to be tepid at best, it will need more support from the Bank of England, a Reuters poll found on Thursday.

The poll of over 60 economists, taken in the past week, found only two predicting the country slid into its third recession in less than five years last quarter, with the median showing negligible growth of 0.1 percent.