Feb Minutes of Meeting
Feb 20, 10:48 AM EST |
|
| The Bank of England lowered its interest rate to 5.25% to sustain the economic growth but worried on the ongoing credit markets turmoil. |
|
| The projections were conditioned on the assumption that bank rate followed the path implied by market yields, falling to around 4.5% by the end of 2008.The Committee’s central projection for GDP growth was for output to slow markedly through 2008 as tighter credit conditions and weaker real income growth bore down on domestic demand. |
|
|
Full Story... |
UK GDP Advances 0.6% in Q4
Feb 27, 9:38 AM EST |
|
| For the year 2007 as a whole GDP rose by 3.1% over 2006, up from 2.9% in the previous year. |
|
| GDP grew by 0.6% in the fourth quarter of 2007. This compares to 0.7% in the previous quarter. The level of GDP is now 2.9% higher than the fourth quarter of 2006. The slower growth in the latest quarter was driven mainly by weaker growth of services output. The output of the production industries rose by 0.1%. Output of utilities rose by 1.7% and mining and quarrying by 0.3%. |
|
|
Full Story... |
UK Retail Index Falls in February, Prices Rise
Feb 27, 7:37 AM EST |
|
| Orders placed with suppliers fell marginally, while stock levels edged up relative to expected demand but remained below their long-run average. |
|
| Hopes of stronger high street sales failed to materialise in February and instead sales growth came to a halt, while the prices of goods rose strongly, the CBI said today. A third 34% of respondents to the latest Distributive Trades Survey said year-on-year sales volumes rose in the first half of February, while 36% said they were down. |
|
|
Full Story... |
UK Retail Sales Rise 0.8% in January
Feb 21, 9:51 AM EST |
|
| Sales volume for household goods stores increased by 4.3%, the largest increase for this sector since August 2006. |
|
| Total sales volume increased by 0.8% between December and January. Sales volume for predominantly food stores increased by 0.7%. Sales volume for predominantly non-food stores increased by 0.4%. |
|
|
Full Story... |
Bank of England Sees Lower Inflation
Feb 13, 9:50 AM EST |
|
| Consumer spending growth appeared to soften and the climate for investment deteriorated. |
|
| The disruption to global financial and credit markets continued. Current and expected policy rates fell. Sterling depreciated substantially. In the United Kingdom, output growth moderated to around its long-term historical average rate. International prospects worsened, especially in the United States. Under the assumption that Bank Rate falls in line with market yields, the Committee''''s central projection is for output growth to slow markedly this year and then gradually start to recover. |
|
|
Full Story... |
UK Unemployment Decreases in January
Feb 13, 8:40 AM EST |
|
| The inactivity rate and the number of inactive people of working age have both fallen. |
|
| 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. |
|
|
Full Story... |
UK Consumer Price Index Gains 2.2% in January
Feb 12, 9:07 AM EST |
|
| Retail prices index inflation rose to 4.1% in January, up from 4% in December. |
|
| Figures from the Office for National Statistics today show that consumer prices index annual inflation – the Government’s target measure – was 2.2% in January, up from 2.1% in December. |
|
|
Full Story... |
UK Retail Sales Rise 2.6% in January
Feb 12, 8:48 AM EST |
|
| Consumer confidence has fallen further and people are particularly wary of committing to major purchases. |
|
| UK retail sales rose 2.6% on a like-for-like basis, compared with January 2007, when sales were up 3.1% compared with a weak January 2006.The three-month trend rate of growth rose to 1.5% from 0.8% in December for like-for-like sales, and to 3.7% from 2.8% for total sales, reflecting the continuing growth of retail space. |
|
|
Full Story... |
UK Trade Balance Contracts in December
Feb 11, 9:56 AM EST |
|
| The deficit on goods and services in 2007 as a whole is provisionally estimated at £51.0 billion. |
|
| The UK’s deficit on trade in goods and services is provisionally estimated to have narrowed marginally in December to £4.7 billion, from a deficit of £4.8 billion in November. In the fourth quarter, the deficit on Balance of trade trade in goods and services widened to £14.2 billion, from a £13.8 billion deficit in the previous quarter.The latest estimate of the trend suggests that the UK trade deficit is fairly flat in recent months. |
|
|
Full Story... |
UK Producer Price Index Rises in January
Feb 11, 9:30 AM EST |
|
| The output price index for home sales of manufactured products rose 5.7% in the year to January, compared with a rise of 5% in the year to December. |
|
| Unadjusted, the index rose 1.0 per cent between December and January, mainly reflecting rises in other manufactured product prices. The output price index excluding excise duties (PPIY) rose 5.9 per cent in the year to January. |
|
|
Full Story... |
|
|
1
