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Apr 9, 2013

Factory rebound, energy use boost UK industry in February

LONDON (Reuters) – British industrial output rose much more than expected in February, driven by a rebound in manufacturing and higher demand for energy during the unusually cold month, official data showed on Tuesday.

The improvement in industry, which late last year was the main drag on the economy, allays fears of another economic contraction in the January-March period, which would tip Britain into its third recession in less than five years.

Mar 28, 2013

Services growth suggests Britain might just skirt recession

LONDON, March 28 (Reuters) – Britain’s dominant services
industry grew at its strongest pace in five months in January, a
small boost to chances the country might narrowly skirt a new
recession.

Output in the sector, which accounts for more than three
quarters of the British economy, rose 0.3 percent in January
from December, the Office for National Statistics said on
Thursday.

Mar 28, 2013

Recession risk persists, current account gap soars

LONDON (Reuters) – Britain looks headed for recession and its current account deficit last year was the worst since 1989, data showed on Wednesday, dimming government hopes of a growth boost from exports and investment.

The Office for National Statistics confirmed that gross domestic product dropped 0.3 percent in the October-December period compared with the previous quarter, dragged down by sharp falls in industrial production and exports.

Mar 27, 2013

Weak industry, exports push UK towards another recession

LONDON, March 27 (Reuters) – Sharp falls in industrial
production and exports shrank Britain’s overall output at the
end of 2012, data confirmed on Wednesday, pushing the economy to
the brink of a “triple-dip” recession.

The Office for National Statistics said that gross domestic
product dropped 0.3 percent on the quarter in the
October-December period. Compared with a year earlier, GDP grew
0.2 percent, slightly less than estimated earlier.

Mar 20, 2013

Bank of England remit reassures gilt market-debt chief

LONDON (Reuters) – Investors in British government bonds will welcome confirmation of the Bank of England’s inflation target in its new mandate released on Wednesday, the country’s chief debt issuer said.

“The inflation target of 2 percent has been clearly restated and I think that restating of the target is really what gives the market some confidence,” Debt Management Office chief executive Robert Stheeman told Reuters in an interview.

Mar 20, 2013

Bank of England split on QE, worried about sterling

LONDON (Reuters) – The Bank of England is no closer to providing more support for Britain’s stagnant economy with most members of its policy committee worried by the weakness of the pound, minutes of its March meeting showed on Wednesday.

Some analysts said the 6-3 vote against further bond purchases, unchanged from February, meant more action from the bank may depend on Chancellor George Osborne giving it more leeway to target growth in Wednesday’s budget speech.

Mar 20, 2013

Bank of England remains split 6-3 on asset purchases in March

LONDON (Reuters) – The Bank of England is no closer to providing more support for Britain’s stagnant economy with most members of its policy committee worried by the weakness of the pound, minutes of its March meeting showed on Wednesday.

Some analysts said the 6-3 vote against further bond purchases, unchanged from February, meant more action from the bank may depend on finance minister George Osborne giving it more leeway to target growth in Wednesday’s budget speech.

Mar 15, 2013

Bank of England’s Dale sees “danger” in looser policy

LONDON, March 15 (Reuters) – The Bank of England’s chief
economist warned against “dangerous talk” of tolerating higher
inflation, days before Britain’s finance minister is expected to
pave the way for the bank to take a more active approach to
boosting growth.

With the government pledging to persevere with its austerity
drive, attention has turned to whether Britain’s central bank
will be given greater scope to stimulate an economy on the verge
of another recession.

Mar 12, 2013

Fall in manufacturing fans UK triple-dip recession fears

LONDON, March 12 (Reuters) – British manufacturing output
fell in January at the fastest pace since June, reinforcing
fears that the economy has tipped into its third recession since
the 2008 financial crisis.

The decline in manufacturing, and downbeat GDP estimates
from a respected thinktank, will add to pressure on finance
minister George Osborne to come up with measures to revive
growth in his annual budget next week.

Mar 12, 2013

Fall in UK manufacturing fans triple-dip fears

LONDON (Reuters) – British manufacturing output fell in January at the fastest pace since June, reinforcing fears that the economy has tipped into its third recession since the 2008 financial crisis.

The unexpected decline in manufacturing will put further pressure on Chancellor George Osborne to come up with measures to revive growth in his budget statement next week.

    • About Olesya

      "Olesya Dmitracova joined Reuters as a graduate trainee. She has spent a year in the Reuters Moscow bureau covering general and political news in Russia and the CIS. Since 2007 she’s been based in London, first as an investment banking reporter and since 2009, covering humanitarian crises and corruption issues worldwide for AlertNet and TrustLaw websites run by the Thomson Reuters Foundation. Before joining Reuters, Olesya had worked for the BBC World Service and regional media in Britain."
      Joined Reuters:
      2005
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