UK Economy - Results from #340

31 March 2023 Business Confidence in the UK Climbs to Ten-month High

Business confidence is at a ten-month high, according to the Lloyds Bank business barometer.

24 March 2023 UK PMIs: "Input Cost Inflation Falls to a Two-year Low"

The Bank of England's most recent interest rate hike could be the last as new survey data shows a sharp drop in inflation experienced at UK private sector businesses.

22 March 2023 Pound Rallies after UK CPI Inflation Jumps, Heaps Pressure on Bank of England to Raise Rates Further

The British Pound was higher in the wake of UK CPI inflation that beat expectations in February and raised the prospects of further Bank of England interest rate rises.

14 March 2023 Pound Sterling Holds Gains, Even as Wage Deceleration Gives Bank of England Cause to Pause

The British Pound held its recent gains against the Euro and U.S. Dollar following the release of data that showed the UK's labour market remained 'tight', ensuring the prospect of another rate hik…

10 March 2023 Pound Sterling: GDP Growth Beats Expectations, But Outlook against Euro and Dollar Remains Fragile

The British Pound remained on a fragile footing against the Euro and Dollar following the release of UK GDP data that showed the economy grew 0.3% in January.

09 March 2023 Chancellor Hunt will Have Billions to Play with Next Week

Chancellor Jeremy Hunt will have billions of extra pounds at his disposal when he announces the Spring Budget next week, which should afford him the chance to bring relief to certain households and…

09 March 2023 Labour Crunch to Keep Upside Pressure on UK Wages

ONS labour market snapshot reveals high vacancy rate and upside pressures on wages, suggesting the Bank of England cannot end its rate hiking cycle imminently.

03 March 2023 Economy's Rebound in February was Stronger than Expected According to S&P Global PMI

The UK's economic rebound in February was stronger than previously reported, according to the final PMI survey from S&P Global.

23 February 2023 Rise in UK Business Investment is the Biggest Piece of Good News You Might Have Missed

But the end of favourable tax incentives and a looming corporation tax rise means a recent recovery could prove fleeting.

21 February 2023 Pound Sterling Jumps against Euro, Dollar as UK Economy Rebounds into Growth Territory: PMI Data

The UK economy will comfortably avoid a recession if the latest S&P Global PMI survey findings are anything to go by.

21 February 2023 Unexpected Budget Surplus Driven by Bumper Self-Assessment Income Tax Receipts

The UK unexpectedly recorded a budget surplus in January, as markets had been expecting another deficit to be recorded on the national accounts.

20 February 2023 Household Gas Bills to Fall, Offering a Significant Boost to UK Economic Outlook

The UK economic outlook has improved significantly owing to the recent fall in wholesale gas prices, which analysts say will ease the pressures bearing down on households from July onwards.

17 February 2023 UK Retail Sales in Unexpected Rise in January

Retail sales unexpectedly rose in January as UK consumers continue to spend, with one analyst saying the economic picture is "looking a lot less grim".

15 February 2023 Sharp Falls in Inflation Dents Pound Sterling's Advance against Euro and Dollar

The Bank of England will have breathed a sigh of relief on receiving today's inflation numbers that showed some sharp falls in the rate of price increases in January.

14 February 2023 Pound Sterling Boosted by Strong UK Wage Growth Data

GBP was higher in the wake of data that revealed UK wages continue to grow at inflationary levels amidst ongoing 'tightness' in the UK labour market.

10 February 2023 Pound Sterling Holds Weekly Advance against Euro & Dollar but December GDP Slump Underlines Poor Outlook

The British Pound looked to defend a weekly advance against the Euro and Dollar as it was revealed the UK economy shrank by more than expected in December.

31 January 2023 Bank of England: 25bp Hike More Likely Following Sharp Drop in Lending Figures

If the purpose of raising interest rates is to slow lending in order to bring down inflation, then the Bank of England will be confident the actions it took in 2022 are doing the job.

27 January 2023 Hunt Delivers "A Lecture, Not a Plan"

Chancellor Jeremy Hunt has attempted to lay out an optimistic vision for the UK economy but industry reactions say his speech lacked the detail required to shift the dial on a pessimistic outlook.

24 January 2023 Pound Pressured as PMI Figures Herald the Start of a Delayed Recession

The British Pound fell after PMI data showed the UK economy slowed faster than expected in January in an outcome that contrasted unfavourably with surprisingly strong Eurozone figures.

20 January 2023 Pound Sterling "Fairly Valued" against Euro as UK Current Account Deficit Nears Sustainability: Barclays

UK current account back to equilibrium levels, leaving GBP fairly priced vs. EUR.