UK GDP Slows in Line with Estimates
Apr 25, 10:57 AM EDT |
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| Manufacturing output increased by 0.5%. |
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| The preliminary estimate shows that the chained volume measure of gross domestic product increased by 0.4 per cent in the first quarter of 2008 compared with the previous quarter. This is the same growth as for gross value added. |
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UK Retail Sales Fall 0.4% in March
Apr 24, 10:01 AM EDT |
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| Between February and March the volume of sales fell by 0.4%, reflecting falls in all sectors except household goods stores. |
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| In the three months to March the seasonally adjusted index for volume of retail sales rose by 2% over the previous three months. The volume of sales in predominantly food stores in the latest three months rose by 1.7% over the previous three months. In predominantly nonfood stores sales were up 1.8%. |
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Bank of England Cuts Interest Rates to 5%
Apr 23, 9:14 AM EDT |
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| Manufacturing output had risen by 0.4% in February and industrial production as a whole by 0.3%. |
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| The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 25 basis points to 5%. Six members of the Committee voted in favour of the proposition, and three voted against. |
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UK Unemployment Declines in March
Apr 16, 8:11 AM EDT |
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| The number of unemployed people fell by 39,000 over the quarter. |
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| The number of unemployed people, the unemployment rate and the claimant count have all fallen. The inactivity rate and the number of inactive people of working age have both fallen. The number of vacancies has increased. Growth in average earnings excluding bonuses has increased but earnings growth including bonuses has fallen. |
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UK Annual CPI Inflation Unchanged at 2.5%
Apr 15, 8:13 AM EDT |
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| RPIX inflation – the all items RPI excluding mortgage interest payments – was 3.5% in March, down from 3.7% in February. |
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| CPI annual inflation – the Government’s target measure – was 2.5% in March, unchanged from February, figures from the Office for National Statistics showed today. The largest downward contribution to change in the CPI annual rate came from furniture, household equipment and maintenance where the price of furniture and furnishings rose by less than a year ago. |
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UK Trade Deficit Narrows in February
Apr 10, 9:50 AM EDT |
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| Exports to EU countries rose by 7% and exports to non-EU countries rose by 3%. |
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| The UK’s deficit on trade in goods and services is provisionally estimated to have narrowed in February to £4.4 billion from a deficit of £5.0 billion in January. In the three months ended February, the deficit on trade in goods and services narrowed to £13.6 billion, from a £13.7 billion deficit in the previous three months. |
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Bank of England Slashes Rates by 0.25%
Apr 10, 8:27 AM EDT |
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| CPI inflation rose to 2.5% in February. |
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| The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5%. The Committee expects inflation to rise further this year, reflecting the continuing impact of higher energy and food prices, as well as the recent depreciation of sterling on import costs. |
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UK Industrial Production up 0.3% in February
Apr 09, 9:29 AM EDT |
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| Between January and February, mining and quarrying output decreased by 1.2% with falls in oil and gas production. |
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| In the three months to February, the seasonally adjusted chained volume index for the output of the production industries remained unchanged compared with the previous three months. Between January and February output of the manufacturing industries rose by 0.4%, note that monthly growth rates are volatile. |
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