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Economy

 

UK households turn downbeat about finances as Brexit weighs - BoE survey

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LONDON More households in Britain expect a deterioration in their finances than an improvement for the first time in three years, with much of it linked to the Brexit vote in 2016, a survey published by the Bank of England showed.

Scottish economic growth seen persistently below UK growth rate in coming years 15 Dec 2017

EDINBURGH Scotland's economy will grow at a slower rate than that of the United Kingdom overall during the next five years, the Scottish Fiscal Commission forecast on Thursday.

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Scotland breaks from rest of UK with tax hike for higher earners 15 Dec 2017

EDINBURGH Scotland's government said on Thursday it will raise taxes on higher earners and increase public sector pay, using powers to levy higher income tax rates than the rest of Britain for the first time since it was given its own parliament 20 years ago.

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UK retailers enjoy bumper Black Friday sales 14 Dec 2017

LONDON British shoppers pounced on electrical goods and other Black Friday bargains last month, giving an unexpectedly big boost to retail sales, which contrasted with earlier signs of a subdued start to Christmas spending. | Video

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UK RICS house price balance slips to lowest since March 2013 14 Dec 2017

LONDON British house prices were flat for the first time in more than four years during the past three months, a closely watched industry survey showed on Thursday, as falling prices in London and nearby areas dragged down the national average.

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Bank of England - disorderly Brexit risk reduced by EU talks progress 14 Dec 2017

LONDON Last week's breakthrough in Brexit talks has reduced the risk of a disorderly British departure from the European Union and may boost economic confidence, the Bank of England said on Thursday after it left interest rates unchanged.

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UK employment falls for second month, pay edges up 13 Dec 2017

LONDON The number of people in work in Britain fell again, suggesting employers are turning more cautious as Brexit nears, and while pay growth quickened slightly, it remained lower than inflation, official data showed on Wednesday. | Video

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UK inflation hits highest in nearly six years, peak seen soon 12 Dec 2017

LONDON British inflation unexpectedly rose to its highest level in nearly six years in November, tightening the post-Brexit vote squeeze on households whose spending is the main driver of the country's economy. | Video

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UK grocery inflation hits highest level since 2013 - Kantar Worldpanel 12 Dec 2017

LONDON British grocery inflation hit its highest level since 2013 over the last quarter, led by price rises in products such as butter, fish and fresh pork, industry data showed on Tuesday.

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UK workers face renewed hit to spending power in 2018 - Korn Ferry 12 Dec 2017

LONDON Workers in Britain look set to suffer another hit to their spending power in 2018 while most of their peers in the world's other big rich economies will have small gains, human resources firm Korn Ferry said on Tuesday.

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