Economy News


Britain's economy maintaining momentum as BoE holds steady - Reuters poll


LONDON - Britain's economy kept up its strong rate of growth at the start of 2014 and is expected to slow only marginally as the Bank of England leaves its main interest rate at rock bottom for another year, a Reuters poll found.

UK firms increase ad budgets as recovery optimism grows 7:16am BST

LONDON - The number of British companies increasing their marketing spend grew at its strongest pace in 14 years in the first quarter, signalling optimism that Britain's recovery from recession is gaining momentum, an industry survey showed on Thursday.


Unemployment plunges to five-year low, pay grows 16 Apr 2014

LONDON - Britain’s unemployment rate unexpectedly dropped in the three months to February, reviving speculation the Bank of England will start raising interest rates earlier than it has signalled.

Scottish GDP growth hampered by refinery strike in late 2013 16 Apr 2014

LONDON - A strike at Scotland's only oil refinery contributed to a sharp slowdown in economic growth at the end of 2013 at a time when the rest of the British economy was booming, data showed on Wednesday.

Persimmon says housing demand picking up across Britain 16 Apr 2014

LONDON - British housebuilder Persimmon said demand for new houses continued to strengthen, helped by government intervention to help first-time buyers.

Lower inflation boosts UK households' morale - Markit 16 Apr 2014

LONDON - British households feel under the least financial pressure in more than five years, due to lower inflation and the prospect of higher wages, a monthly survey showed on Wednesday.


UK inflation hits new four-year low, house prices continue rise 15 Apr 2014

LONDON - British inflation fell to its lowest in over four years in March, easing pressure on living standards and raising the prospect that prices may now be rising by less than wages for the first time in years.

BoE's Broadbent says sees signs business investment picking up 15 Apr 2014

LONDON - Bank of England policymaker Ben Broadbent said on Tuesday he is seeing signs that British businesses are investing more as the economy recovers.


Bad weather hits UK construction output in February 11 Apr 2014

LONDON - British construction output shrank in February, as floods and heavy rains in many parts of the country delayed work..


British house prices boom, Bank of England holds fire 10 Apr 2014

LONDON - House prices and sales took off again in Britain last month, reflecting the economy's surprisingly fast recovery, but the Bank of England stuck to its course and left interest rates unchanged at record lows.

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