Tag: UK

Thaw in private sector pay rises

Thaw in private sector pay rises

UK pay settlement levels are stable, according to the latest analysis from employment research specialist, Incomes Data Services (IDS). The average settlement for the three months to the end of July stood at 2.5%, having remained constant since January, and with pay settlements in manufacturing continuing to lead the way, typically at 2.9%. In addition, [...]

August 26, 2011 | 0 Comments More
UK unemployment rate and claimant count up

UK unemployment rate and claimant count up

The Office for National Statistics (ONS) has today revealed UK unemployment rose in the three months to June. The ONS said unemployment rose by 38,000 in the three month period to 2.49 million. The latest figures take the unemployment rate from 7.7% to 7.9%. Economists had expected the rate to stay flat at 7.7% Meanwhile, [...]

August 17, 2011 | 0 Comments More
UK inflation jumps to 4.4% in July

UK inflation jumps to 4.4% in July

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.4% last month after easing to 4.2% in June. Analysts had expected the figure to rise slightly to 4.3%. Higher inflation continues to be led by rising food costs – which grew by 6.2% in July, while clothes [...]

August 16, 2011 | 0 Comments More
Bank of England lowers economic growth forecast

Bank of England lowers economic growth forecast

August 10, 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
UK service sector grows at stronger pace

UK service sector grows at stronger pace

Growth in the UK’s closely-watched service sector grew at the strongest pace in 4 months in July, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) surged to 55.4 last month from June’s reading of 53.9. The rise was unexpected after analysts had expected the index to fall [...]

August 3, 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
CBI revises UK growth prospects

CBI revises UK growth prospects

The Confederation of British Industry (CBI) has today revised its growth prospects for the UK Economy. The employer’s group is now forecasting growth of 1.3% this year, down from its May forecast of 1.7%. Meanwhile, it is still expecting growth of 2.2% in 2012 – unchanged from its previous forecast. The CBI has also suggested [...]

August 1, 2011 | 0 Comments More
UK consumer confidence dips further in July

UK consumer confidence dips further in July

A survey of 2,000 individuals, conducted between July 1 and 10, has revealed a fall in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence dived by 5 points to -30 in July – edging closer to the -31 seen in April. The index was also worse [...]

July 29, 2011 | 0 Comments More
UK public sector borrowing higher than forecasts in June

UK public sector borrowing higher than forecasts in June

The Office for National Statistics (ONS) has today revealed UK public sector borrowing rose last month. According to the ONS, public sector net borrowing rose to £14 billion last month compared with £13.6 billion June 2010. The figure was higher than analysts’ expectations and was attributed to a fall in income tax receipts. The figure [...]

July 21, 2011 | 0 Comments More
UK unemployment rate holds steady at 7.7%

UK unemployment rate holds steady at 7.7%

The Office for National Statistics (ONS) has today revealed UK unemployment fell further in the three months to May. The ONS said unemployment fell by 26,000 in the three month period to 2.45 million. The latest figures means the unemployment rate remained flat at 7.7%. However, the number of Britons claiming jobseeker’s allowance (JSA) surged [...]

July 13, 2011 | 0 Comments More
UK inflation eases to 4.2% in June

UK inflation eases to 4.2% in June

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) unexpected fell to annual rate of 4.2% last month from May’s 2½-year high of 4.5%. Analysts had expected the figure to remain at 4.5%. However, the figure remains more than double the target of 2% and has been above this level since December [...]

July 12, 2011 | 0 Comments More
Santander returns call centres to UK from India

Santander returns call centres to UK from India

Spanish banking giant Santander has announced it will return all of its call centres to the UK from India after complaints from its customers. It will create 500 jobs as part of the process and it is the latest in a series of customer service focus initiatives from the bank. Santander has a major UK [...]

July 8, 2011 | 0 Comments More
UK service sector growth sees slight rise in June

UK service sector growth sees slight rise in June

Growth in the UK’s closely-watched service sector rose slightly last month, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) edged higher to 53.9 in June from May’s three-month low of 53.8. The result confounded analysts’ expectations of a fall to 53.5. The index continues to remain above [...]

July 5, 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
Public sector workers protest against pension reforms

Public sector workers protest against pension reforms

A 24-hour strike is underway in the UK as public sector workers protest against pension reforms. The Public and Commercial Services (PCS), which is Britain’s largest civil service union, as well as three teaching unions, are protesting against changes to their pensions. The industrial action will result in Britain’s worst strike for decades and will [...]

June 30, 2011 | 0 Comments More
UK service sector output contracts in April

UK service sector output contracts in April

Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, [...]

June 29, 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
UK borrowing falls in May

UK borrowing falls in May

The Office for National Statistics (ONS) has today revealed UK public sector borrowing fell slightly last month. According to the ONS, public sector borrowing fell to £15.15 billion last month compared with £16.46 billion in May last year. The figure was lower than analysts’ expectations of £15.75 billion and was attributed to an increase in [...]

June 21, 2011 | 0 Comments More
ONS: UK retail sales fall in May

ONS: UK retail sales fall in May

Higher prices at the petrol pumps and economic uncertainty has led to a fall in UK retail sales for the month of May, according to the Office for National Statistics (ONS) today. The ONS said retail sales dived 1.4% last month, reversing the strong rise seen in April due to the late bank holidays, good [...]

June 16, 2011 | 0 Comments More