UK Economy - Results from #380

27 September 2022 Cost of Energy Price Cap Down to £85BN says Deutsche Bank

The UK government's energy price cap is the single most expensive outlay of Liz Truss' new administration, but its cost could come in a lot lower than markets had been anticipating as wholesale gas…

23 September 2022 UK Government's Fiscal Statement: Economist, Analyst and Other Views

The UK government appeared to exacerbate losses for markets in London on Friday following a budget-like announcement from Chancellor Kwasi Kwarteng that has drawn much comment from economists, anal…

21 September 2022 Interest Rate Hikes and the Housing Market: "Hurry if You’re Selling, Halt if You're Buying"

"Right now though, those already on the property ladder are generally better off staying put rather than moving or re-mortgaging."

21 September 2022 UK Business Energy Prices Capped, Businesses Welcome "Quick and Decisive Action"

The UK government has announced "unprecedented" support for UK businesses as it limits the cost of fuel bills in a move that will underpin economic growth but materially raise the country's debt bu…

16 September 2022 UK Retail Sales Slump Suggests UK Already in Recession says Analysts

A sharp decline in UK retail spending suggests the UK consumer is withdrawing in the face of surging prices, tipping the UK economy into recession.

14 September 2022 UK Inflation Drops

GBP was softer after it was reported headline UK CPI inflation was lower in August than in July, suggesting the peak in price rises might have now passed.

13 September 2022 Pound Cheered by Bullish Labour Statistics

UK jobs data was on balance supportive for the Pound, with the currency rising against the Euro, Dollar and most other major currencies in the wake of the release.

12 September 2022 Pound Sterling Softer after July GDP Disappoints

The British Pound was soft at the start of a new week following the release of domestic GDP data that showed July's economic rebound was softer than expected.

06 September 2022 Truss Energy Plan: UK About to Go "Super-European" says Berenberg

"Coming in with a bang," says Holger Schmieding, Head of European Economics at Berenberg, addressing reports that incoming UK Prime Minister Liz Truss could make a major intervention in UK energy m…

23 August 2022 UK Economy Grew in August, But Looks Set to Contract Soon According to PMIs

The UK economy expanded in August, according to a much-watched survey of activity.

19 August 2022 Retail Sales in Surprise Rise, but Consumer Confidence Plummets to 50-year Low

Despite surging inflation, UK retail sales surprised by growing in July, although a much-watched measure of consumer confidence plummeted to an all time low.

17 August 2022 Inflation Surge Sends Pound Sterling Higher vs. Euro and Dollar

GBP was higher after it was announced UK inflation hit 10.1% in July, leaving it more than five times higher than the Bank of England's target.

16 August 2022 "Strong" Jobs Report Keeps Pound Sterling Bid against Euro and Dollar

The British Pound remained supported against the Euro and Dollar following the release of new data from the ONS that showed UK wages faster than expected in June, as job vacancies remain elevated i…

12 August 2022 Small Businesses Sound the Alarm Over the UK Economy's Future

The UK economy contracted less than was expected last quarter but its foundations are weakening with financial distress growing as a constraint within the small business sector and lynchpin of the …

12 August 2022 Pound Supported against Euro, Dollar on Better than Expected GDP Data

GBP was supported near recent levels against both the EUR and USD on Friday following the release of some better than expected UK GDP data that suggests the economy approaches a tough winter period…

08 August 2022 Bank of England's Forecasts "Economic Nonsense" says Toscafund's Savouri

The Bank of England's forecasts of a long and enduring UK recession has been branded unrealistic by Savvas Savouri, Chief Economist and Partner at hedge fund Toscafund Asset Management.

27 July 2022 UK Unemployment to Rise and Inflation to Plunge in 2023, Triggering a Bank of England Reset say Economists

Workers are returning to the jobs market, headline inflation to plunge in 2023, Bank of England to end rate hike cycle sooner than expected.

22 July 2022 Pound to Stay Heavy as Retail Sales Confirm Consumers Facing Significant Pressures

The British Pound is set to remain under pressure as the UK economy faces significant headwinds, as confirmed by the latest retail sales figures.

20 July 2022 Surging Inflation Data Nails on 50bp Bank Rate Hike

GBP was seen trading firm on the day UK inflation data came in above expectations, confirming the Bank of England might have to go ahead with an outsized 50 basis point rate hike in August.

13 July 2022 Goldman Sachs Cuts Odds of UK Recession

The surprisingly strong UK GDP data announced midweek leads economists at Goldman Sachs to revise higher their growth forecasts and lower expectations for a recession taking hold.