UK Budget Deficit Soars to 38%
Jul 18, 3:34 AM ET |
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| The main statistics released show that in June 2008: the public sector current budget was in deficit by £7.6 billion. |
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| UK budget deficit at the end of June soared to 38.3% of GDP. The debt does not include loans to the BoE and Northern Rock. The sharp rise in debt is fueled by rising public expenses and rapidly slowing economic expansion. The government hopes to keep debt below 40% of the GDP and lower than 43 billion pounds, which increasingly looks difficult to achieve. |
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UK Unemployment Rises in June
Jul 16, 8:41 AM EDT |
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| The claimant count was 840,100 in June 2008, up 15,500 over the previous month but down 23,100 over the year. |
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| The unemployment rate was 5.2% for the three months to May 2008, unchanged over the previous quarter but down 0.2 over the year. The number of unemployed people increased by 12,000 over the quarter but fell by 47,000 over the year, to reach 1.62 million. |
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UK Consumer Prices up 3.8% in June
Jul 15, 10:17 AM EDT |
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| Consumer Prices Index annual inflation – the Government’s target measure – was 3.8% in June, up from 3.3% in May. |
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| RPIX inflation – the all items RPI excluding mortgage interest payments – was 4.8% in June, up from 4.4% in May. |
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Bank of England Leaves Rates Unchanged
Jul 10, 7:28 AM EDT |
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| The previous change in Bank Rate was a reduction of 0.25 percentage points to 5% on 10 April 2008. |
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| The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5%. |
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UK Trade Deficit Widens in May
Jul 09, 3:34 PM EDT |
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| The surplus on trade in services was £3.2 billion, compared with a surplus of £3.5 billion in April. |
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| The UK’s deficit on trade in goods and services was £4.2 billion in May, compared with the revised deficit of £4.1 billion in April ,originally published as a deficit of £4.3 billion. |
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UK Industrial Production Declines 0.5% in May
Jul 07, 8:54 AM EDT |
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| Manufacturing output in the latest three months was 0.1% lower than the same period a year ago. |
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| In the three months to May, the seasonally adjusted chained volume index for the output of the production industries fell by 0.5% compared with the previous three months. Between April and May output of the manufacturing industries fell by 0.5%. |
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UK House Prices Drop 0.9% in June
Jul 01, 9:01 AM EDT |
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| Prices in June are now 6.3% lower than this time last year and have fallen 7.3% from their peak last October. |
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| The pace of house price falls slowed significantly in June. House prices fell by 0.9% during the month, less than half of the rate of the 2.5% fall recorded in May. |
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