UK Services Output Falls 0.1% in March
May 23, 11:15 AM EDT |
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| Distribution increased by 0.8% in the quarter to March. The most significant increase was in retail. |
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| Services output between February and March fell by 0.1%. The most significant decrease was in business services and finance. |
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UK GDP up 0.4% in Q1
May 23, 10:56 AM EDT |
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| Output of the production industries fell 0.2% compared with a rise of 0.2% in the previous quarter. |
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| Gross Domestic Product rose by 0.4% in the first quarter of 2008, unrevised from the previous estimate and down from 0.6% in the fourth quarter of 2007. The level of GDP in the first quarter of 2008 is now 2.5% higher than the first quarter of 2007. |
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BoE Minutes
May 21, 7:37 AM EDT |
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| CPI inflation had risen markedly in April to 3%. |
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| According to the preliminary release, GDP growth had been 0.4% in 2008 Q1 compared with 0.6% in the previous quarter. More recent data suggested that industrial production had fallen by 0.5% on the month in March – a weaker figure than that embodied in the preliminary GDP estimate. |
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Bank of England:Inflation Report
May 14, 9:32 AM EDT |
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| CPI inflation was 2.5% in March. |
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| Indicators of household spending were mixed, while the investment climate worsened. International prospects deteriorated, especially in the United States. Stresses in global financial and credit markets intensified in March but latterly there have been signs of improvement. Sterling depreciated further and in April the MPC cut Bank Rate by 0.25%. |
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UK Jobless Claims Rise
May 14, 8:16 AM EDT |
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| Manufacturing productivity rose by 3% in the three months to March 2008 compared with a year earlier. |
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| The unemployment rate was 5.2%, unchanged from the previous quarter. The number of unemployed people increased by 14,000 over the quarter. In the latest reference period; the working age employment rate was 74.9%, up 0.1 percentage point on the previous quarter. The number of people in employment increased by 117,000 over the quarter. |
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UK Annual CPI Inflation Rises to 3% in April
May 13, 8:13 AM EDT |
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| Retail Price Index inflation rose to 4.2% in April, up from 3.8% in March. |
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| Consumer Price Index annual inflation – the Government’s target measure – was up from 2.5% in March to 3% in April. The largest upward contribution to the change in the CPI annual rate came from housing and household services due to changes in the price of gas, electricity and heating oil. |
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UK Producer Price Index Rises 1% in April
May 12, 9:30 AM EDT |
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| Seasonally adjusted, the index rose 1% between March and April. |
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| The output price index for home sales of manufactured products rose 7.5% in the year to April, compared with the rise of 6.5% in the year to March. Unadjusted, the index rose 1.4% between March and April, mainly reflecting rises in other manufactured product prices. If passed on in full, the changes in excise duty on tobacco and alcohol announced in the Budget would have increased the index by 0.3% in April. The output price index excluding excise duties rose 7.7% in the year to April. |
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UK Trade Deficit Narrows in March
May 12, 9:04 AM EDT |
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| In the first quarter, the deficit on trade in goods and services widened to 13.4 billion, from a 13.1 billion deficit in the previous quarter. |
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| The UK’s deficit on trade in goods and services is provisionally estimated to have narrowed in March to £4.0 billion from a deficit of £4.3 billion in February. |
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BoE Leaves Rates Unchanged
May 08, 8:14 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 Industrial Production Falls 0.5% in March
May 07, 8:44 AM EDT |
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| Manufacturing output in the latest quarter rose by 0.3% compared with the previous quarter. |
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| In the first quarter of 2008, the seasonally adjusted chained volume index for the output of the production industries fell by 0.2% compared with the previous quarter. Between February and March output of the manufacturing industries fell by 0.5%. |
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