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Mar 11, 2013

Osborne faces limited budget options

LONDON (Reuters) – Chancellor George Osborne has limited options for pulling the economy out of its rut when he presents his fourth annual budget on March 20.

Faced with the risk of a third British recession since the 2008 financial crisis, Osborne is under growing pressure to act and he is expected to announce some measures to help investment in infrastructure, possibly offset by spending cuts elsewhere.

Mar 1, 2013

Britain heads for new recession

LONDON (Reuters) – The risk that Britain is entering its third recession in four years grew on Friday with figures showing that manufacturing shrank unexpectedly last month and mortgage approvals for home buyers dropped in January

Gross domestic product fell at the end of last year, bringing Britain within sight of another recession and the latest data suggested the central bank may need to do yet more to revive the economy.

Mar 1, 2013

Britain heads for new recession as factories slump and mortgage lending slides

LONDON (Reuters) – The risk that Britain is entering its third recession in four years grew on Friday with figures showing that manufacturing shrank unexpectedly last month and mortgage approvals for home buyers dropped in January

Gross domestic product fell at the end of last year, bringing Britain within sight of another recession and the latest data suggested the central bank may need to do yet more to revive the economy.

Feb 27, 2013

UK economy shrank in late 2012

LONDON (Reuters) – Britain’s economy contracted by 0.3 percent in the last quarter of 2012 as first thought, keeping alive the danger of a third recession since 2008, although yearly growth was revised up, data showed on Wednesday.

The weak economy and its detrimental impact on the government’s fiscal targets prompted rating agency Moody’s to strip Britain of one of its coveted triple-A credit ratings last week.

Feb 27, 2013

UK economy shrank in late 2012, recession in sight

LONDON (Reuters) – Britain’s economy contracted by 0.3 percent in the last quarter of 2012 as first thought, keeping alive the danger of a third recession since 2008, although yearly growth was revised up, data showed on Wednesday.

The weak economy and its detrimental impact on the government’s fiscal targets prompted rating agency Moody’s to strip Britain of one of its coveted triple-A credit ratings last week.

Feb 22, 2013

UK nears yuan swap deal as London eyes offshore leader status

LONDON (Reuters) – Britain said on Friday it hopes to set up a currency swap line with China soon to help finance trade, a move that will enhance London’s drive to become a leading offshore centre for yuan trade.

China, in an effort to internationalize the yuan and eventually make it a world reserve currency, has already agreed swap lines with more than 15 other countries, mostly emerging markets.

Feb 20, 2013

Record number in work in UK, claimant count plunges

LONDON (Reuters) – The number of people in work in Britain hit an all-time high late last year, highlighting the continued resilience of the labour market in the face of a stagnant economy.

The number of people in work rose to 29.730 million in the three months to December, the highest since records began in 1971, the Office for National Statistics said on Wednesday.

Feb 15, 2013

UK retail sales fall unexpectedly in January

LONDON (Reuters) – British retail sales unexpectedly fell in January as snowy weather hurt food stores and other retailers, reviving worries that the economy may be slipping into a third recession in four years.

Sales volumes including automotive fuel slipped 0.6 percent in both monthly and annual terms, the Office for National Statistics said on Friday, compared to economists’ expectations for solid growth in both numbers.

Feb 15, 2013

UK retail sales fall unexpectedly in snowy Jan

LONDON, Feb 15 (Reuters) – British retail sales unexpectedly
fell in January as snowy weather hurt food stores and other
retailers, reviving worries that the economy may be slipping
into a third recession in four years.

Sales volumes including automotive fuel slipped 0.6 percent
in both monthly and annual terms, the Office for National
Statistics said on Friday, compared to economists’ expectations
for solid growth in both numbers.

Feb 14, 2013

Bank of England sees slow recovery and high inflation

LONDON (Reuters) – Britain’s economic recovery will prove slow, high inflation will take longer to fall, and the central bank can do little on its own to improve matters, Bank of England governor Mervyn King said on Wednesday.

Presenting the central bank’s quarterly forecasts, King gave a gloomier outlook than just three months ago. Worsening inflation in particular points to a further fall in Britons’ real wages, which have just hit their lowest since 2003.

    • 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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