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 [...]
Scotland’s economy shrank less than thought in the October to December period, official figures revealed today. GDP was revised upwards to a contraction of 0.4% rather than an earlier estimate of 0.5%. The contraction was attributed to the bad weather during the quarter which impacted on many businesses. On an annual basis, meanwhile, the economy [...]
The Commerce Department has today revealed the US economy grew by an annualised 3.1% in the October to December period – higher than the previous estimate of 2.8%. It was also slightly better than analysts forecast of a 3% growth rate. The upward revision in GDP was attributed to higher consumer spending – which grew [...]
The Commerce Department has today revealed the US economy grew by an annualised 2.6% in the July to September period – slightly higher than the second estimate of 2.5% but much faster than the first estimate of 2%. However, the growth rate was less than the 3% most analysts had expected. Today’s estimate is the [...]
Official figures have today revealed the Japanese economy grew faster than estimated in the third quarter due to stronger corporate spending. The world’s third largest economy grew by 1.1% in the July to September period, up from the first estimate of 0.9%. On an annual basis, the economy expanded by 4.5% from an earlier estimate [...]
The Commerce Department has today revealed the US economy grew by 2.5% in the July to September period – much faster than the 2% previously estimated and higher than economists had forecast. Today’s estimate is the second reading, a third and final estimate will be available next month. GDP was revised upwards due to higher [...]
The European Union’s statistics office, Eurostat, has today said Greece’s budget deficit reached a revised 15.4% of annual economic output last year – higher than the 13.6% reported in April. The revised figure, which is almost two percentage points more than originally forecast, now makes it the largest deficit in the euro zone – even [...]
The Commerce Department has today revealed the US economy grew by an annualised 1.7% in the April to June period – slightly higher than the previous estimate of 1.6%. This figure is the third and final estimate for the second quarter and the upward revision was due to a higher rate of consumer spending, which [...]
Destatis, Germany’s statistics office, has today revealed Europe’s largest economy experienced growth of 0.2% in the first three months of 2010. The results beat expectations after analysts had expected the economy to stagnate, as it did in the last three months of 2009. However, Destatis said fourth quarter GDP was revised upwards to 0.2% taking [...]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.4% in the October to December period – slightly higher than the 0.1% and the 0.3% previously estimated. Today’s figures represent the third and final figures for growth in the fourth quarter and the ONS is scheduled release its first estimate [...]
The Labor Department has today revealed the US unemployment rate remained unchanged at 9.7% in February and lower than the 10% rate reported in December. According to the Labor Department, employers cut 36,000 jobs last month – fewer than the 50,000 analysts had been expecting and compares to a revised 26,000 job cuts in January. [...]
According to the Commerce Department, US consumer spending rose faster than expected in January by 0.5% – the fourth consecutive monthly rise. The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was better than expectations of 0.4%. Meanwhile, the data said personal incomes crept up [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity grew faster than expected in February – sustaining the previous month’s 15-year high rate of growth. The positive figures will boost hopes that the economic recovery is gathering pace after last week’s fourth quarter GDP figures were revised upwards. Last week, the [...]
A survey from the Confederation of British Industry (CBI) has provided some optimism for the UK economy but the business group warns of a drawn-out recovery. According to the CBI, its survey found business volumes stabilising across the services sector over the last three months. Meanwhile, the survey found that consumer services, which include hotels [...]
The Commerce Department today revealed that the world’s no.1 economy grew at a faster rate in the fourth quarter than previous estimates showed. According to official figures, the US economy grew by an annual 5.9% between the October and December period, rather than the 5.7% previously estimated. For the whole of 2009, GDP declined at [...]
The quarterly Confederation of British Industry (CBI) report has revealed shoppers returned the High Street in their droves in February after UK retailers reported their strongest growth in sales volumes for two years in early February. The CBI also believes further growth will be experienced in March as consumers begin to loosen their purse strings. [...]
The Office for National Statistics (ONS) has today revealed that the UK economy grew by 0.3% in the October to December period – slightly higher than the 0.1% estimated last month. The figures will come as a relief to many who had feared the worst with growth being revised downwards. However, the revised figures still [...]
The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.2% in the July to September period – rather than the 0.3% previously reported and the 0.4% estimated in October. Analysts had forecast a contraction of 0.1%. On an annual basis, the UK economy has shrunk by 5.1% over the [...]
The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.3% in the July to September period – rather than the 0.4% previously estimated. However, today’s figures still mean it is the first time the UK has endured six consecutive quarters without growth – the first time since the ONS [...]
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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