The Munich-based Ifo think tank has today revealed confidence among German firms fell for the third consecutive month in September. The closely-watched Business Climate Index dipped to 107.5 this month from August’s reading of 108.7 – this represented the lowest level since June 2010. However, the fall was not as bad as the 106.5 economists [...]
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 [...]
Respected think tank, Ernst & Young ITEM Club, has lowered its growth forecast for the UK economy after warning that the UK is at a “critical juncture”. The ITEM Club now believes the UK economy will expand by 1.4% this year, down from an earlier estimate of 1.8%. Furthermore, it is predicting growth of 2.2% [...]
Respected think tank, Ernst & Young ITEM Club, has today said UK retailers are in for a tough time as household incomes become even further squeezed amid rising inflation and soaring energy bills. The think tank is forecasting consumer spending to rise by just 2% a year in the next decade as family finances are [...]
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 [...]
A report by the Institute for Public Policy Research (IPPR) has established that England could face a massive housing shortage by 2025. The think tank concludes that there is likely to be a shortfall of 750,000 homes by 2025 with the areas worst hit including London, the South East of England, the East, and Yorkshire [...]
Influential think tank, the National Institute for Economic and Social Research (NIESR) is expecting the Bank of England to lift interest rates three times this year. The London-based think tank made the comments after calling on Chancellor George Osborne to consider deferring the harsh spending cuts the Government has introduced. Ray Barrell of the NIESR [...]
Think tank, the Institute of Public Policy Research (IPPR), has warned that “unemployment will reach new highs for this economic downturn.” Its gloomy assessment comes as the Office for National Statistics (ONS) today revealed UK unemployment rose in the three months to November. The ONS said unemployment grew by 49,000 in the three month period [...]
Influential think tank, the Ernst & Young Item Club, is urging the Bank of England not to be pressurised into lifting UK interest rates as it could threaten the economic recovery. Interest rates have been at the historic low of 0.5% since March 2009 – when the economy was in the midst of recession. Despite [...]
Influential think tank, the Organisation for Economic Co-operation and Development (OECD) has today revised its growth for the UK economy, as a result of the Coalition Government’s austerity measures, designed to bring down the budget deficit. However, the revision comes as no surprise as experts have been predicting that the harsh spending cuts will undoubtedly [...]
Influential think tank, the National Institute for Economic and Social Research (NIESR), is urging the Bank of England to be cautious when considering its next move for the UK economy. Speculation is mounting that the Bank of England will pump a further £50 billion into the economy next month via its quantitative easing (QE) programme. [...]
Influential think tank, the Organisation for Economic Co-operation and Development (OECD) has today said the number of unemployed in the 33-member OECD countries hit 45.5 million in August. The Paris-based organisation said the jobless rate in August for the area was 8.5%, falling from 8.6% in July. A statement from the Organisation noted that the [...]
According to the New Economics Foundation (NEF), banks could be forced to seek more support from the taxpayer next year, due to a £25 billion funding gap. The NEF has published a report on Britain’s banks entitled “Where Did Our Money Go?” and the 88-page document suggests an urgent reform of the sector is required, [...]
Influential think tank, the Policy Exchange, has warned interest rates may be hiked to 8% by 2012, in order to combat stubbornly high inflation. Interest rates remain at the 300-year record low of 0.5% – where they have been since March 2009 – in order to boost the economy and bring it out of recession. [...]
Influential think tank, the National Institute for Economic and Social Research (NIESR), believes the economic recovery will be slower than the Government anticipates. The new coalition Government is optimistic in its prediction for economic growth and expects it to be 2.3% next year and 2.8% the year after. However, the Institute is forecasting that the [...]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.3% in the January to March period – unchanged from the previously estimated figure, but marginally higher than the first estimate of 0.2%. Analysts had expected GDP to remain unchanged in the first quarter but many economists believe that economic growth [...]
The Office for National Statistics (ONS) is tomorrow expected to leave its estimate of GDP in the January to March unchanged at 0.3%. Gross Domestic Product (GDP), a key measure of economic growth, is closely watched by economists as an indication of the health of the economy. The figures were due to be released last [...]
The National Institute of Economic and Social Research (NIESR) is forecasting that the UK economy expanded by 0.7% in the three months to the end of June. Official figures for the period will be released later this month but the think tank believes most of the growth occurred over April and May. Growth is expected [...]
Economic think tank, the Organisation for Economic Co-operation and Development (OECD), has today said unemployment remains a concern in rich economies. In particular, the OECD has expressed concern for the UK economy, after the Government axed investment for job programmes. It believes the unemployment rate will hover around the 8% mark for at least the [...]
A report by the Centre for Policy Studies think-tank has said the UK’s savings system needs to be reformed in order to encourage people to bank their money. According to the think tank, schemes need to be simplified if people are going to save as the current system is too complex with multiple tax regimes. [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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