Tag: recovery

Japanese exports fall more than expected

Japanese exports fall more than expected

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 [...]

August 18, 2011 | 0 Comments More
All nine policymakers vote for rate freeze

All nine policymakers vote for rate freeze

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 [...]

August 17, 2011 | 0 Comments More
Japanese economy performs better in Q2

Japanese economy performs better in Q2

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, [...]

August 15, 2011 | 0 Comments More
Chancellor warns of tough and long recovery ahead

Chancellor warns of tough and long recovery ahead

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 [...]

August 11, 2011 | 0 Comments More
UK trade deficit widens in June

UK trade deficit widens in June

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% [...]

August 9, 2011 | 0 Comments More
US consumer spending down in June

US consumer spending down in June

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 [...]

August 2, 2011 | 0 Comments More
IMF provides assessment for UK economy

IMF provides assessment for UK economy

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% [...]

August 2, 2011 | 0 Comments More
UK manufacturing activity contracts in July

UK manufacturing activity contracts in July

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 [...]

August 1, 2011 | 0 Comments More
Japan’s economy continues recovery from earthquake and tsunami

Japan’s economy continues recovery from earthquake and tsunami

July 29, 2011 | 0 Comments More
Bank minutes suggest low rates for some time to come

Bank minutes suggest low rates for some time to come

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 [...]

July 20, 2011 | 0 Comments More
US unemployment rate edges up to 9.2%

US unemployment rate edges up to 9.2%

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 – [...]

July 8, 2011 | 0 Comments More
Japan’s current account surplus down 52% in May

Japan’s current account surplus down 52% in May

July 8, 2011 | 0 Comments More
UK interest rates remain on hold

UK interest rates remain on hold

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 [...]

July 7, 2011 | 0 Comments More
UK interest rates to remain on hold today

UK interest rates to remain on hold today

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 [...]

July 7, 2011 | 0 Comments More
UK manufacturing activity hits 21-month low

UK manufacturing activity hits 21-month low

The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing grew at its slowest rate in almost two years in June. The closely-watched CIPS/Markit manufacturing PMI dived to a 21-month low of 51.3 last month from May’s reading of 52. June’s reading was slightly lower than the [...]

July 1, 2011 | 0 Comments More
Bank of England: Home repossessions to stay low

Bank of England: Home repossessions to stay low

According to Sir Mervyn King, the Governor of the Bank of England, a surge in home repossessions is unlikely as UK interest rates are set to remain low. Repossessions have fallen over recent times and many experts have previously argued that homeowners have been saved from repossession because of historically low interest rates, which has [...]

June 28, 2011 | 0 Comments More
UK Q1 economic growth figures remain unchanged

UK Q1 economic growth figures remain unchanged

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.5% in the January to March period – unchanged from the previous two estimates. In the meantime, annual growth was revised down to 1.6% from 1.8%. The growth, albeit slow, expanded primarily due to exports, with net trade contributing 1.4% points [...]

June 28, 2011 | 0 Comments More
Euro zone debt crisis could affect UK recovery

Euro zone debt crisis could affect UK recovery

Treasury Minister, Mark Hoban, has today said the ongoing “instability” in the euro zone could hold back the recovery of the UK economy. While banks in the UK only have a small exposure to Greek debt compared with France and Germany, it could still have a considerable impact on the economy. Mr Hoban was responding [...]

June 20, 2011 | 0 Comments More
BoE report suggests low interest rates in the short-term

BoE report suggests low interest rates in the short-term

In its influential Quarterly Bulletin, the Bank of England said interest rates can be held at the historic low of 0.5% in order to prevent growth from stalling. The statement comes despite inflation being more than double the target of 2% and many business groups are calling on the bank to lift rates to combat [...]

June 13, 2011 | 0 Comments More
UK industrial output falls more than expected in April

UK industrial output falls more than expected in April

The Office for National Statistics has today revealed UK industrial output fell 1.7% in April – confounding expectations of a 0.1% rise. The fall was attributed to the extra bank holiday for the Royal Wedding and the impact of Japan’s earthquake and tsunami, which disrupted the supply chain. The fall represented the biggest since August [...]

June 10, 2011 | 0 Comments More