Tag: contraction

China manufacturing growth slows further

China manufacturing growth slows further

Manufacturing activity in China eased further last month, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) fell to 50.7 last month from June’s reading of 50.9. Secondly, the HSBC China Manufacturing PMI also suggested activity is slowing with the index falling [...]

August 1, 2011 | 0 Comments More
Markets await UK first quarter GDP figures

Markets await UK first quarter GDP figures

The Office for National Statistics (ONS) will today publish economic growth figures for the January to March period. The figures are much awaited by analysts after the economy suffered a shock contraction in the last three months of 2010 – attributed to bad weather at the end of the year. GDP is expected to expand [...]

April 27, 2011 | 0 Comments More
UK Q4 economic growth figures revised upwards

UK Q4 economic growth figures revised upwards

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.5% in the October to December period – slightly better than the second estimate of 0.6% but unchanged from the first estimate. Economists had expected the figures to remain unchanged. Today’s estimate is the third and final reading and the GDP [...]

March 29, 2011 | 0 Comments More
Japan core machinery orders surge in January

Japan core machinery orders surge in January

Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – rose 4.2% in January on a monthly basis - easily beating expectations of a 3.1% increase. The increase in orders represented the second consecutive monthly rise, according to the Cabinet Office, and follows December’s 1.7% rise and [...]

March 9, 2011 | 0 Comments More
Interest rate hike to be delayed after services data

Interest rate hike to be delayed after services data

According to economists, yesterday’s services sector figures could result in the delay of interest rate hikes. Growth in the UK’s closely-watched service sector slowed in February, figures revealed yesterday. The sector accounts for around 75% of Britain’s economic output. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 52.6 in [...]

March 4, 2011 | 0 Comments More
UK Q4 economic growth figures revised downwards

UK Q4 economic growth figures revised downwards

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.6% in the October to December period - slightly worse than the first estimate of 0.5%. Economists had expected the figures to remain unchanged. Today’s estimate is the second reading, a third and final estimate will be available next month. However, [...]

February 25, 2011 | 0 Comments More
Japan optimistic about future economic prospects

Japan optimistic about future economic prospects

The Bank of Japan (BOJ) has today said the economy is emerging from a slowdown and is optimistic about future prospects. The statement comes just a day after figures revealed Japan’s economy, which is now the world’s third largest, contracted by 0.3% in the final three months of 2010. While it was marginally less than [...]

February 15, 2011 | 0 Comments More
China officially becomes world’s second largest economy

China officially becomes world’s second largest economy

Official data today revealed a contraction in the Japanese economy for the final three months of 2010. The latest figures mean China has now officially become the world’s second largest economy - taking over from Japan, which slides into the third place. At the end of 2010, Japan’s economy was worth $5.474 trillion (£3.414 trillion), [...]

February 14, 2011 | 1 Comment More
Japanese economy contracts in Q4

Japanese economy contracts in Q4

Official data today revealed Japan’s economy, which is now the world’s third largest, contracted by 0.3% in the final three months of 2010. While it was marginally less than the 0.5% fall expected by analysts, it still represented the first contraction in five quarters. However, despite the contraction, analysts expect an export-driven recovery this year. [...]

February 14, 2011 | 0 Comments More
NIESR: UK economy recovered in January

NIESR: UK economy recovered in January

Influential think tank, the National Institute of Economic and Social Research (NIESR), has today suggested the UK economy recovered in January after adverse weather conditions led to a shock contraction in the final quarter of last year. Last month, the Office for National Statistics (ONS) revealed the UK economy contracted by 0.5% in the October [...]

February 10, 2011 | 0 Comments More
NIESR forecasting three rate rises this year

NIESR forecasting three rate rises this year

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 [...]

February 1, 2011 | 0 Comments More
Cameron continues to defend “necessary” spending cuts

Cameron continues to defend “necessary” spending cuts

At the World Economic Forum in Davos, Switzerland, British Prime Minister David Cameron is expected to say later today that the UK economy is making “progress”. His speech will come just days after official figures revealed the UK economy contracted by 0.5% in the October to December period. The figures shocked economists who had expected [...]

January 28, 2011 | 0 Comments More
Bank Governor issues wages and inflation warning

Bank Governor issues wages and inflation warning

Speaking in Newcastle last night, the Governor of the Bank of England, Mervyn King, said inflation could rise as high as 5% but will fall back to its target by 2012. Mr King previously dismissed fears that higher inflation would demand a significant rise in interest rates in the months ahead. The CPI inflation rate [...]

January 26, 2011 | 0 Comments More
Bank minutes reveal two policy members voted for rate rise

Bank minutes reveal two policy members voted for rate rise

Minutes of the Bank of England’s January meeting have been released today and have revealed that the Monetary Policy Committee (MPC) 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. [...]

January 26, 2011 | 0 Comments More
UK economy sees shock 0.5% contraction in Q4

UK economy sees shock 0.5% contraction in Q4

The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.5% in the October to December period. The figures shocked economists who had expected growth of between 0.2-0.5% following growth of 0.7% in the third quarter and 1.1% in the April to June period. Meanwhile, economic growth rose by 1.7% on [...]

January 25, 2011 | 0 Comments More
Eurostat revises Greece’s budget deficit

Eurostat revises Greece’s budget deficit

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 [...]

November 15, 2010 | 0 Comments More
Ireland’s economy contracts 1.2% in Q2

Ireland’s economy contracts 1.2% in Q2

Ireland’s Central Statistics Office (CSO) has today revealed the economy contracted by 1.2% in the April to June period - surprising economists who had forecast an expansion. Furthermore, the CSO revised first quarter growth figures down from 2.7% to 2.2%. Many analysts believed the economy to be on the road to recovery but today’s figures [...]

September 23, 2010 | 0 Comments More
German economy contracts record 5% in 2009

German economy contracts record 5% in 2009

The Federal Statistics Office has today revealed that the German economy, which is Europe’s largest, contracted by a record 5% in 2009 - the first time in six years the economy had shrunk and the deepest since World War II. The record contraction was due to a slump in demand in exports and investment. In [...]

January 13, 2010 | 0 Comments More
UK construction sector contracts for 21st consecutive month

UK construction sector contracts for 21st consecutive month

The Chartered Institute of Planning & Supply(CIPS)/Markit purchasing managers index revealed a marginal rise in UK construction activity to 47.0 in November, from 46.2 in October. Any figure below the 50 mark represents a contraction but November’s reading represents the highest since August as the rate of decline slows and new order volumes saw an [...]

December 2, 2009 | 0 Comments More
US markets fall on weak data, FTSE has best quarter

US markets fall on weak data, FTSE has best quarter

Today the world’s largest economy received a boost after the Commerce Department revealed that the US economy shrank at a far slower rate in the second quarter than previous estimates showed. According to the Commerce Department, the US economy contracted by 0.7% between the April and June period rather than the 1% previously reported and [...]

September 30, 2009 | 0 Comments More