Tag: bad weather

Scottish Q4 growth figures revised upwards

Scottish Q4 growth figures revised upwards

Scotland’s economy shrank less than thought in the October to December period, official figures revealed today. GDP was revised upwards to a contraction of 0.4% rather than an earlier estimate of 0.5%. The contraction was attributed to the bad weather during the quarter which impacted on many businesses. On an annual basis, meanwhile, the economy [...]

April 21, 2011 | 0 Comments More
NIESR estimates 0.7% growth for UK for Q1

NIESR estimates 0.7% growth for UK for Q1

Influential think tank, the National Institute of Economic and Social Research (NIESR), has today suggested the UK economy recovered in the first quarter of the year after bad weather conditions led to a shock contraction in the final quarter of last year. The economy contracted by 0.5% in the October to December period after the [...]

April 6, 2011 | 0 Comments More
UK Q4 economic growth figures revised upwards

UK Q4 economic growth figures revised upwards

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.5% in the October to December period – slightly better than the second estimate of 0.6% but unchanged from the first estimate. Economists had expected the figures to remain unchanged. Today’s estimate is the third and final reading and the GDP [...]

March 29, 2011 | 0 Comments More
UK Q4 GDP final reading due this week

UK Q4 GDP final reading due this week

The Office for National Statistics (ONS) will tomorrow publish its final reading of gross domestic product (GDP) for the fourth quarter of 2010. In January, the ONS revealed the UK economy contracted by 0.5% in the October to December period. Last month, the figure was revised down further to 0.6% with bad weather being attributed [...]

March 28, 2011 | 0 Comments More
UK Q4 economic growth figures revised downwards

UK Q4 economic growth figures revised downwards

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.6% in the October to December period - slightly worse than the first estimate of 0.5%. Economists had expected the figures to remain unchanged. Today’s estimate is the second reading, a third and final estimate will be available next month. However, [...]

February 25, 2011 | 0 Comments More
Ryanair reports rise in passenger numbers

Ryanair reports rise in passenger numbers

Irish budget airline Ryanair has today posted a loss of €10.3 million (£8.8 million) in the October to December period, due to the severe wintry weather in Europe last month, as well as the strike action by French air traffic controllers. However, the loss was lower than the €10.9 million reported in the year ago [...]

January 31, 2011 | 0 Comments More
UK economy sees shock 0.5% contraction in Q4

UK economy sees shock 0.5% contraction in Q4

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.5% in the October to December period. The figures shocked economists who had expected growth of between 0.2-0.5% following growth of 0.7% in the third quarter and 1.1% in the April to June period. Meanwhile, economic growth rose by 1.7% on [...]

January 25, 2011 | 0 Comments More
ONS: UK retail sales hit by big freeze in December

ONS: UK retail sales hit by big freeze in December

The Office for National Statistics (ONS) has today reported UK retail sales were hit by the severe wintry weather in December and rising prices. According to the ONS, retail sales during December were down by 0.8% from the previous month - much worse than expected. It was the worst annual performance for any December since [...]

January 21, 2011 | 0 Comments More
NAR reports surge in US homes sales in December

NAR reports surge in US homes sales in December

The National Association of Realtors (NAR) has today revealed sales of previously owned homes in the US rose more than expected in December. The industry body said sales grew 12.3% to a seasonally adjusted annual rate of 5.28 million units - beating forecasts of 4.85 million units. Economists had expected a lower reading due to [...]

January 20, 2011 | 0 Comments More
NAEA: Property sales slump in December

NAEA: Property sales slump in December

The National Association of Estate Agents (NAEA) has today revealed property transactions slumped to an 8-year low in December. The severe wintry weather and the traditional slow Christmas period led to sales falling to their lowest level since January 2003. According to the Association, the average estate agent branch sold four properties in December 2010. [...]

January 14, 2011 | 0 Comments More
M&S sees strong Christmas trading

M&S sees strong Christmas trading

The UK’s biggest retailers are currently reporting their Christmas trading figures, and it has been a mixed bag so far. Today, British retailing giant Marks and Spencer (M&S) said sales in the final quarter of 2010 were up despite the heavy snowfall which gripped much of the country last month. The 127-year-old retailer which sells [...]

January 11, 2011 | 0 Comments More
Waitrose to open more stores in 2011

Waitrose to open more stores in 2011

Luxury supermarket chain, Waitrose, will open 39 new stores this year in the UK, creating 3,000 new jobs. The chain, which is part of the renowned employee-owned department store, John Lewis, is quickly becoming one of the UK’s fastest growing supermarkets. Twenty seven of the new outlets will be in the new convenience store format, [...]

January 5, 2011 | 0 Comments More
UK construction activity in surprise contraction in December

UK construction activity in surprise contraction in December

The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity contracted unexpectedly in December. The Purchasing Managers’ Index slumped to 49.1 in December, from 51.8 in November - the first fall since February last year and surprised analysts. The latest figures mean the index is now [...]

January 5, 2011 | 0 Comments More
Bad weather could hurt UK economy

Bad weather could hurt UK economy

Economists have today warned that the big freeze could hit the UK economy, impacting negatively on growth. In particular, retailers have been badly affected this weekend by a lack of shoppers, who opted to stay home due to the snow and ice. This weekend should have been the busiest of the year for retailers but [...]

December 20, 2010 | 0 Comments More
UK retail sales stage recovery in February

UK retail sales stage recovery in February

The Office for National Statistics (ONS) today revealed a 1.9% rise in UK retail sales in February compared with January. Retail sales in January saw a significant fall due to the severe wintry weather which hit most parts of the country during the month. Consequently, today’s strong result was expected following suppressed sales in January [...]

March 25, 2010 | 0 Comments More
Fed leaves interest rates unchanged

Fed leaves interest rates unchanged

The Federal Reserve has today elected to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected. After the one day meeting, the Federal Open Market Committee (FOMC) voted 9-1 to keep rates unchanged. Interest rates in the world’s largest economy have been at the low level since [...]

March 16, 2010 | 0 Comments More
US housing starts and building permits fall in Feb

US housing starts and building permits fall in Feb

The Commerce Department has today revealed US housing starts fell during the month of February, while building permits were also down. Both declines were attributed to the severe wintry weather that gripped parts of the US during the month. According to the Commerce Department, construction of new US homes fell 5.9% during the month to [...]

March 16, 2010 | 0 Comments More
US consumers continue to tighten their belts

US consumers continue to tighten their belts

US retailers have been hit by the continuous tightening of purse strings due to rising unemployment. Furthermore, bad weather in June further dampened US retail sales, in particular summer clothes and seasonal items. According to the Goldman Sachs Retail Composite Index, overall the industry reported a fall of 6.7% in sales for the month of [...]

July 9, 2009 | 0 Comments More