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News Tag: recovery

September 30, 2011

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 ...




September 21, 2011

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 9, 2011

Japanese economy continues to struggle

by Kay Mitchell
”Japanese
The Cabinet Office has today revealed the world’s third largest economy performed worse than originally thought in the April to June period. Gross Domestic Product (GDP) contracted by 2.1% on an annual basis in the three-month period, compared with an initial estimate of 1.3%. The fall was attributed to a cut back on spending by companies amid concerns about a slowing global economy and ...




September 8, 2011

UK interest rates remain on hold

by Kay Mitchell
”UK
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5%, as widely expected. Interest rates have now been at this low level since March 2009 – when the economy was in the midst of recession. Recent figures show the economy appears to be faltering so it ...




NIESR: UK economic recovery to remain sluggish

by Kay Mitchell
”NIESR:
Recovery of the UK economy is to remain sluggish, with GDP slowing to 0.2% in the June to August period, the National Institute of Economic and Social Research (NIESR) predicts. This compares with a 0.6% rate in the three months to July. The influential think tank believes if the weakness continues, the Bank of England is likely to consider re-introducing its quantitative ...




UK interest rates expected to remain on hold

by Kay Mitchell
”UK
The Bank of England’s Monetary Policy Committee (MPC) commenced its two-day rate-setting meeting yesterday and interest rates are expected to remain on hold at the record low of 0.5% – where they have been since March 2009. The bank is presented with a dilemma as it comes under pressure to raise interest rates to combat stubbornly high inflation – which ...




September 5, 2011

UK service sector activity suffers sharp drop in August

by Kay Mitchell
”UK
Growth in the UK’s closely-watched service sector slowed in August, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) slowed at the fastest pace in over a decade to 51.1 in August from July’s reading of 55.4. The fall represented the second largest on record and was much worse than the 54.0 ...




September 2, 2011

UK construction growth slows further in August

by Kay Mitchell
”UK
The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) has today revealed growth in the UK construction industry weakened in August. The PMI dipped to 52.6 in August from July’s reading of 53.5 – however, the figure was in line with expectations. Furthermore, the index remains above the crucial 50 mark, which separates growth from contraction. However, the ...




September 1, 2011

UK manufacturing activity hits 26-month low

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 at the fastest pace in more than two years in August. The closely-watched CIPS/Markit manufacturing PMI fell to 49.0 last month from an upwardly revised 49.4 in July. The latest figure means the index remains below the crucial 50 ...




August 18, 2011

Japanese exports fall more than expected

by Kay Mitchell
”Japanese
Official figures today revealed Japan’s exports fell more than expected last month resulting in the country’s second consecutive month of trade surplus. According to the Ministry of Finance, exports were 3.3% lower on an annual basis in July – the fifth consecutive monthly fall – and lower than forecasts of a 2.4% fall. The figures suggest the strong yen continues to hurt Japan's ...




August 17, 2011

All nine policymakers vote for rate freeze

by Kay Mitchell
”All
Minutes of the Bank of England’s August 3-4 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%. For several months, Martin Weale and Spencer Dale have been lone voices on the Committee by voting to hike rates to combat stubbornly high inflation. However, ...




August 15, 2011

Japanese economy performs better in Q2

by Kay Mitchell
”Japanese
Japan's economy performed better than in expected in the second quarter, suggesting the country is slowly recovering after the earthquake and tsunami, which struck in March. According to the Cabinet Office, the economy contracted by 0.3% in the April to June period – less than the 0.7% expected by analysts. On an annual basis, meanwhile, the economy shrank by 1.3% in the three-month ...




August 11, 2011

Chancellor warns of tough and long recovery ahead

by Kay Mitchell
”Chancellor
Speaking in the House of Commons today, Chancellor George Osborne has warned that the UK can expect a long and tough recovery. His speech came as he defended the Government’s tough spending cuts, which many have been critical about – even suggesting they could push the UK back into recession. However, the Chancellor believes that the "swift, decisive" spending cuts and ...




August 9, 2011

UK trade deficit widens in June

by Kay Mitchell
”UK
The Office for National Statistics (ONS) has today revealed the UK trade gap widened to £8.8 billion in June – the biggest deficit since December 2010 and higher than expectations of £8.1 billion. The figures come on the same day the ONS revealed UK factory output fell by 0.4% in June after rising by 1.8% in May. The reading surprised economists who had ...




August 2, 2011

US consumer spending down in June

by Kay Mitchell
”US
The Commerce Department has today reported an unexpected fall in consumer spending in the US for the month of June. Spending fell 0.2% on the month – the first fall in almost two years – suggesting the economic recovery is losing momentum. Furthermore, the figures confounded analysts’ expectations for a 0.1% increase. Consumer spending is closely monitored as it accounts for approximately 70% ...




IMF provides assessment for UK economy

by Kay Mitchell
”IMF
In its latest assessment of the UK economy, the International Monetary Fund (IMF) has said growth will be around 1.5% this year. The Washington-based Fund warned that stubbornly high inflation continues to be a threat to the economy and is forecasting inflation to remain well above the 4% mark in 2011 before falling to 2% by the end of 2012 – returning ...




August 1, 2011

UK manufacturing activity contracts in July

by Kay Mitchell
”UK
The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing contracted in July – the first time since the UK was in recession two years ago. The closely-watched CIPS/Markit manufacturing PMI fell to 49.1 last month from a revised 51.4 in June. The index is now below the crucial 50 mark, which separates contraction from ...





July 20, 2011

Bank minutes suggest low rates for some time to come

by Kay Mitchell
”Bank
Minutes of the Bank of England’s July 6-7 meeting have been released today and have revealed the Monetary Policy Committee (MPC) again voted 7-2 to lift interest rates and 8-1 to restart the Bank’s quantitative easing (QE) scheme. Adam Posen, again, called for an injection of £50 billion via the QE scheme to boost the economy. Martin Weale and ...




July 8, 2011

US unemployment rate edges up to 9.2%

by Kay Mitchell
”US
The Bureau of Labor Statistics has today revealed the unemployment rate in the US rose in June to 9.2% from 9.1% in May. According to the Bureau, the number of new jobs created in the world’s largest economy last month represented the lowest in 9 months. The economy created just 18,000 jobs in June – lower than forecasts of a 90,000 rise ...