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Wednesday 19th of January 2011

News Tag: economists

December 22, 2010

UK Q3 economic growth figures revised down

by Kay Murchie
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.7% in the July to September period – down from its previous estimate of 0.8%. On an annual basis, meanwhile, growth was also revised down to 2.7% from 2.8%. Both figures surprised economists who had expected quarterly and annual growth to remain unchanged. Today’s estimate is ...

December 7, 2010

BoE will not make a move on interest rates

by Kay Murchie
According to economists, the Bank of England is widely expected to keep interest rates on hold for the medium-term. The Monetary Policy Committee (MPC) will start its two-day meeting tomorrow and rates are expected to be kept at the historic low of 0.5% - where they have been since March 2009. In addition, analysts expect no movement on the quantitative ...

October 27, 2010

Interest rates expected to be lifted in short-term

by Kay Murchie
Economists have warned that interest rates could rise sooner than expected - and the warning came hot on the heels of a double dose of good news for the UK economy. Yesterday, the Office for National Statistics (ONS) revealed UK economic growth for the third quarter slowed to 0.8%, albeit double the rate analysts had forecast. Economists had expected economic growth ...

October 20, 2010

US housing starts rise, building permits down

by Kay Murchie
US housing starts rise, building permits down
The Commerce Department has revealed a rise in US housing starts for the month of September, but building permits fell, giving mixed signals for the property market. According to the Commerce Department, construction of new US homes rose 0.3% last month to a seasonally adjusted annual rate of 610,000 units – the highest level since April and ahead of expectations of ...

September 23, 2010

Ireland’s economy contracts 1.2% in Q2

by Kay Murchie
Ireland’s Central Statistics Office (CSO) has today revealed the economy contracted by 1.2% in the April to June period - surprising economists who had forecast an expansion. Furthermore, the CSO revised first quarter growth figures down from 2.7% to 2.2%. Many analysts believed the economy to be on the road to recovery but today’s figures will raise further concern for the former ...

September 16, 2010

India lifts interest rates to 5%

by Kay Murchie
The Reserve Bank of India (RBI) has today elected to lift interest rates from 4.5% to 5% - higher than the 4.75% that economists had expected. It is the fifth such rise since March as the country battles to tame inflation. India’s inflation rate, which is the highest among the Group of 20 leading nations, has remained stubbornly high over recent months, due ...

May 13, 2010

VAT to hit 20% under new coalition Government

by Kay Murchie
Leading economists have said VAT will rise to 20% by the end of 2011 under the new coalition Government. According to a BBC survey, 24 out of 29 economists used by the Treasury expect the sales tax to rise, in order to try to pay back the UK’s fiscal deficit. Prior to the election, all three party leaders said a VAT ...

March 4, 2009

Analysts expect 0.5% rate cut tomorrow

by David Masters
Analysts expect 0.5% rate cut tomorrow
The Bank of England's monetary policy committee (MPC) will cut interest rates tomorrow, according to a poll of industry economists. Of the 11 experts polled, nine predicted a rate cut, whilst two said current economic conditions make it too close to call. Economists polled included representatives from HSBC, Barclays, the Centre for Economics and Business Research, the Royal Institution of Chartered Surveyors, and ...

June 19, 2008

British retail sales soar in May

by Kay Murchie
Consumers have shrugged off the current economic climate and rushed out to the shops after a record level of retail spending was recorded last month. Figures from the Office for National Statistics showed that British retail sales soared in May, increasing at the fastest pace of growth since the series began in 1986. The news has stunned economists and has heightened fears ...

May 8, 2008

Interest rates on hold at 5%

by Kay Murchie
The Bank of England's Monetary Policy Committee (MPC) has met this morning and decided to keep UK interest rates on hold at 5%. Most City analysts had predicted that rates would remain unchanged but with a cut to 4.75% in June. Ian McCafferty, chief economic adviser to the CBI business group, said the latest data shows the economy is slowing, albeit ...