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UK Economy Unexpectedly Shrinks In October
The UK economy experienced an unexpected contraction in October, as uncertainty ahead of the Autumn budget dampened spending and investment, official data revealed on Friday. Gross domestic product fell 0.1 percent month-on-month in October, the same pace of drop as seen in September, the Office for National Statistics reported. GDP was forecast to grow 0.1 percent.
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Před 2 dny
UK Halifax House Prices Remain Flat In November
UK house prices stagnated in November ahead of the Autumn budget announcement, data from the mortgage lender Halifax revealed Friday. House prices registered a nil growth in November after a 0.5 percent rise in October. Prices were forecast to climb 0.2 percent. Nonetheless, average property prices hit another new record high of GBP 299,892.
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Před 9 dny
UK Construction Sector Downturn Deepens
The UK construction sector contracted at the fastest pace since May 2020 as output decreased amid challenging market conditions, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index dropped to 39.4 in November from 44.1 in October. This was the lowest score since May 2020.
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Před 10 dny
UK Nationwide House Prices Rise More Than Forecast
UK house prices logged a faster-than-expected growth in November despite budget uncertainty, data from the Nationwide Building Society showed Tuesday. House prices grew 1.8 percent on a yearly basis in November, slower than the 2.4 percent increase seen in October. Nonetheless, the annual growth was faster than the forecast of 1.4 percent.
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Před 12 dny
UK Mortgage Approvals Fall In October
UK mortgage approvals decreased in October as demand for mortgages to buy houses weakened ahead of the budget announcement, data from the Bank of England showed Monday. Net mortgage approvals for house purchases, an indicator of future borrowing, fell by 600 to 65,000 in October. However, this was well above economists' forecast of 64,000.
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Před 13 dny
UK Private Sector Growth Softens
The UK private sector activity reported a softer expansion in November, largely due to a loss of momentum in the service sector, flash survey results from S&P Global revealed on Friday. The composite output index fell more-than-expected to 50.5 in November from 52.2 in October. The expected level was 51.8.
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Před 23 dny
UK Retail Sales Fall For First Time In 5 Months; Consumer Sentiment Weakens
UK retail sales declined for the first time in five months in October as consumers delayed their spending in the lead up to Black Friday, the Office for National Statistics said on Friday. British consumer confidence deteriorated in November ahead of the upcoming autumn budget, a private survey revealed.
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Před 23 dny
UK Inflation Eases To 3.6%; Raises Rate Cut Hopes
UK consumer price inflation eased in October, ahead of the Autumn budget announcement, official data revealed Wednesday. The moderation has eased pressure on households and raised hopes of interest rate cut in December. The consumer price index logged an annual growth of 3.6 percent in October, slower than the 3.8 percent rise in September.
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Před 25 dny
UK Economy Logs Marginal Growth
The UK economy logged only a marginal growth in third quarter as the cyber attack on Jaguar Land Rover hit production, official data revealed on Thursday. Gross domestic product grew 0.1 percent sequentially, following the prior quarter's 0.3 percent expansion, the Office for National Statistics reported Thursday. Output was expected to advance 0.2 percent.
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Před 31 dny
UK Unemployment Rate Highest Since 2021
The UK unemployment rate increased to the highest since early 2021 in the third quarter, raising chances of an interest rate cut, official data revealed on Tuesday. The ILO jobless rate rose to 5.0 percent in the third quarter from 4.8 percent in the three months to August, the Office for National Statistics said. The rate was above economists' forecast of 4.9 percent.
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Před 33 dny
