|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News




News Tag: Economy News

January 10, 2012

UK faces stagnation but may escape recession

by Jan Harris
UK faces stagnation but may escape recession
Britain's economy stagnated in the final quarter of 2011 and is "very likely" to contract in the first half of 2012 according to the British Chambers of Commerce (BCC). The euro zone debt crisis caused the economy to stagnate in 2011 and it has failed to improve this year, with the survey suggesting that one or two quarters of ...




December 8, 2011

Chancellor warns UK at risk if euro collapses

by Jan Harris
Chancellor warns UK at risk if euro collapses
As the leaders of the European Union's 27 member states prepare to meet over a possible new EU treaty, the UK’s chancellor George Osborne warned a House of Lords committee that a collapse of the euro would do 'enormous damage' to the UK economy. Mr Osborne also stressed that the damage would be long-term. Speaking to the House of ...




November 1, 2011

Australia cuts interest rates to boost growth

by Kay Mitchell
”Australia
The Reserve Bank of Australia (RBA) has today elected to cut interest rates by one quarter of a percentage point to 4.5% in a bid to bolster growth. The move, which was widely expected, comes as the global economy slows and unemployment rises (currently at 5.2%). It was the first time in two-and-a-half years that the RBA has cut rates. The Australian ...




UK manufacturing activity contracts in October

by Kay Mitchell
”UK
The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity contracted last month. The closely-watched CIPS/Markit manufacturing PMI sank to 47.4 in October from September’s reading of 50.8. Today’s survey means the index has fallen below the crucial 50 mark – which separates growth from expansion. Furthermore, the index is now at its lowest ...




October 29, 2011

US consumer spending up in September

by Kay Mitchell
”US
Official figures have revealed consumer spending in the US improved last month. According to the Commerce Department, consumer spending rose 0.6% to $68.7 billion (£42.7 billion) in September and follows a 0.2% rise in August. The figures will be a welcome boost for the economy which looked set to be heading towards a double dip recession just a few weeks ago. Consumer spending ...




September 30, 2011

German unemployment hits lowest level in 20 years

by Kay Mitchell
”German
Official data has revealed unemployment in Germany dropped to its lowest level in more than 20 years in September. The country’s unemployment rate fell from August’s rate of 7% to 6.6%. Unemployment now stands at 2.79 million – the first time since 1992 that the jobless total has been below 2.8 million. It was also much better than economists had expected. The country’s ...




Japan’s industrial output increases in August

by Kay Mitchell
”Japan’s
Japan’s industrial output recovered further last month after a record drop in March due to the earthquake and tsunami. Disruptions caused by the twin disasters resulted in carmakers being forced to halt production as a result of parts shortages. However, it looks as if the situation continues to improve after output rose by 0.8% last month compared with July, figures from the Finance ...




US economic growth revised upwards for Q2

by Kay Mitchell
”US
The Commerce Department has revealed the world’s largest economy grew by 1.3% on an annual basis in the April to June period – higher than an initial estimate of 1%. The figure was also slightly higher than analysts’ expectations of 1.2% and follows a 0.4% growth rate in the first quarter of the year. The upward revision was attributed to higher ...




September 28, 2011

US consumer confidence remains weak in September

by Kay Mitchell
”US
US consumer confidence remained weak in September, the Conference Board has reported. The closely-monitored Consumer Confidence Index from the Conference Board edged higher to 45.4 this month from August’s upwardly revised reading of 45.2. However, not only was the reading less than forecasts of a level of 46.6, it was the lowest since April 2009 when the economy was in the ...




September 23, 2011

Irish economy sees strong growth in Q2

by Kay Mitchell
”Irish
Figures today have revealed Ireland’s economy continued to see growth in the April to June period. According to the Central Statistics Office, the economy grew by a better than expected 1.6% in the three-month period and this follows a revised 1.9% growth rate in the first quarter. This represents the first time since 2006 that Ireland’s economy has grown for two ...




HMRC: House sales weak in August

by Kay Mitchell
”HMRC:
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in August in the UK. According to HMRC, 78,000 homes worth at least £40,000 or more were sold in the month – 6,000 less than the previous month and 3,000 lower than in August 2010. However, August is traditionally regarded as a quieter month due to the ...




September 21, 2011

Bank minutes suggest further round of QE

by Kay Mitchell
”Bank
Minutes of the Bank of England’s September 7-8 meeting have been released today and have revealed all nine members of the Monetary Policy Committee (MPC) voted to keep interest rates at the historic low of 0.5%. This was the second consecutive month that the Committee voted unanimously to keep rates at the record low after Martin Weale and Spencer Dale have ...




Japan’s exports recover in August

by Kay Mitchell
”Japan’s
Official figures today revealed Japan’s exports rose in August for the first time in six months – suggesting the world’s third largest economy is continuing its recovery from the devastating earthquake and tsunami which struck in March. According to the Ministry of Finance, exports were 2.8% higher last month on an annual basis but this was much less than the 8% rise expected ...




September 20, 2011

S&P downgrade Italy’s sovereign debt

by Kay Mitchell
”S&P
Credit ratings agency Standard & Poor’s (S&P) has today downgraded Italy’s sovereign debt by one notch to A from A+, and kept it on a negative outlook. The agency cited weak economic growth prospects, which may impact on the country’s ability to reduce its deficit. The Italian Senate recently passed a tough austerity budget, which proposes cuts of €48 billion (£42 billion) over the ...




September 16, 2011

India lifts interest rates further to combat inflation

by Kay Mitchell
”India
The Reserve Bank of India (RBI) has today raised key interest rates for the twelfth time since March 2010, in a bid to tame stubbornly high inflation in a thriving economy. The central bank lifted its main rate to 8.25% from 8% as inflation soars on the back of higher food and fuel prices and the measures were widely expected. ...




September 13, 2011

Rics: Housing market remains in the doldrums

by Kay Mitchell
”Rics:
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The Rics report said 23% of surveyors reported ...




CML: Mortgage lending edges higher in July

by Kay Mitchell
”CML:
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, director-general of the CML, said: “August saw ...




UK inflation edges higher in August

by Kay Mitchell
”UK
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% annual increase in the housing, water, electricity ...




September 12, 2011

ICB final report recommends ring-fencing

by Kay Mitchell
”ICB
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would "make it easier and less costly to resolve banks that get into trouble". The ICB, which was established in June 2010 to explore how taxpayers ...




September 9, 2011

US exports surge, Obama unveils jobs plan

by Kay Mitchell
”US
The Commerce Department has revealed US exports hit an all-time high in July, while imports fell. According to official figures, exports surged 3.8% to $178 billion (£111 billion) after two months of declines. The rise in exports was attributed to strong overseas sales of manufactured goods, particularly to countries in Central and South America. Meanwhile, imports fell 0.2% to $222.8 billion – attributed ...