Economy

 

Rapid UK recovery starts to slow from previous red-hot pace

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LONDON - Britain still looks on track to outpace other advanced economies this year after rapid growth eased only slightly in the three months to September, but a euro zone slowdown could hamper the recovery in the run-up to next May's election.

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UK's rebounding economy sees slowing industrial orders, retail sales 23 Oct 2014

LONDON - Britain's brisk economic recovery is showing more signs of cooling after shoppers bought less, exporters took a hit from Europe's slump and banks approved the fewest mortgages in more than a year.

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UK consumer confidence tumbles in October on job insecurity 23 Oct 2014

LONDON - Consumer confidence in Britain took its biggest tumble in four years this month as workers in low-paid sectors worry about losing their jobs in an economic slowdown, a survey published on Thursday showed.

BoE's Broadbent says market outlook for 'neutral' rates broadly right 23 Oct 2014

LONDON - Market expectations for the levels of interest rates needed to stabilise Britain's economy seem reasonable, Bank of England Deputy Governor Ben Broadbent said on Thursday.

UK factory export orders drop at fastest pace since Jan 2013 23 Oct 2014

LONDON - British factory export orders fell in the three months to October at the fastest pace since January 2013, according to a survey from the Confederation of British Industry published on Thursday.

UK September mortgage approvals fall to lowest level since July 2013 23 Oct 2014

LONDON - Mortgage approvals in Britain fell in September to their lowest level since July last year, standing 9.9 percent lower than a year ago, industry data showed on Thursday.

BoE's Broadbent says underlying interest rates to eventually rise 23 Oct 2014

LONDON - The Bank of England is only likely to raise interest rates gradually, as headwinds to growth and long-term downward pressures on borrowing costs pass, the central bank's deputy governor said on Thursday.

Talent shortage drives pay up in UK financial services, tech sectors 23 Oct 2014

LONDON - A talent shortage in Britain's financial services and technology sectors has pushed salaries in the industry up by 2.6 percent in the last year, ahead of inflation and outpacing sluggish UK wage growth, research showed on Thursday.

Plant revamps push UK car production down 3 percent in September 23 Oct 2014

LONDON - British car production fell by nearly 3 percent year-on-year in September as plants prepared for new models, an industry body said on Thursday, but output in 2014 is still on course to hit its highest level in six years.

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Bank of England minutes add to signs rate hike on back burner 22 Oct 2014

LONDON - Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed.

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