Tag: exit

RBS in talks to leave APS early

RBS in talks to leave APS early

There is speculation that the Royal Bank of Scotland (RBS) is in talks with the Treasury about its early exit from the Government’s Asset Protection Scheme (APS). The scheme, which insurers against losses arising from toxic assets, was established in 2009 to boost confidence in the system following the financial crisis in autumn 2008. It [...]

January 21, 2011 | 0 Comments More
Ireland finally emerges from recession

Ireland finally emerges from recession

Ireland has finally exited a prolonged recession after figures revealed the economy grew by 2.7% in the January to March period. It was believed that Ireland had exited recession in the third quarter of last year but an initial estimate of growth was later revised to show a contraction within the economy. As a result, [...]

June 30, 2010 | 0 Comments More
UK consumer confidence up in February

UK consumer confidence up in February

The latest survey from the Nationwide Building Society has revealed a rise in UK consumer confidence for the month of February. The building society’s consumer confidence index surged to 80 last month - the highest level since January 2008 and double the reading seen last February. According to the Nationwide, its survey reflects the fact [...]

March 3, 2010 | 0 Comments More
CBI reports sharp fall in January retail sales

CBI reports sharp fall in January retail sales

The CBI has today reported a sharp fall in retail sales for the month of January due, in part, to the severe wintry weather and the rise in VAT which has hit consumer demand. According to the lobby group’s monthly survey (between January 4 and 15), more than a quarter (28%) of retailers said sales [...]

January 27, 2010 | 0 Comments More
Pound falls on disappointing GDP figures

Pound falls on disappointing GDP figures

The pound fell this morning after quarter four GDP figures were weaker than expected. While official figures showed that the UK has finally emerged from recession in the fourth quarter, the economy only grew 0.1% - an expansion of 0.4% had been expected. The pound fell to $1.614 against the US dollar - a fall [...]

January 26, 2010 | 0 Comments More
The UK finally emerges from recession…..just

The UK finally emerges from recession…..just

Official figures today have revealed that the UK economy grew by 0.1% between the October and December period, suggesting that the economy has finally emerged from its worst recession since records began in 1955. Economists had expected that the economy would experience positive growth in the fourth quarter but growth of around 0.4% was expected. [...]

January 26, 2010 | 0 Comments More
Figures today to reveal UK’s exit from recession

Figures today to reveal UK’s exit from recession

The long-awaited quarter four GDP figures are to be released at 09:30 today with the hopes that the UK has finally emerged from its worst recession in several decades. The UK economy, which has now contracted for six consecutive quarters, has been lagging behind other major economies but it is hoped that the economy exited [...]

January 26, 2010 | 0 Comments More
UK manufacturers warn recovery will be slow

UK manufacturers warn recovery will be slow

Industry body, the EEF, has warned that UK manufacturers believe it will be 2011 before the industry returns to pre-recession levels. It was recently announced that manufacturing output remained flat for a second consecutive month in November. On an annual basis, manufacturing output declined by 5.4%, according to the Office for National Statistics (ONS). The [...]

January 14, 2010 | 0 Comments More
Think tank sees Q4 growth of 0.4%

Think tank sees Q4 growth of 0.4%

Leading economic think tank, the National Institute of Economic and Social Research (NIESR), believes the UK economy exited recession in the fourth quarter of 2009 and has experienced growth of 0.3%. The prediction echoes many other reports forecasting that the economy has finally emerged from its worst recession in decades. The UK economy, which has [...]

January 14, 2010 | 0 Comments More
UK industrial output beats expectations in November

UK industrial output beats expectations in November

The Office for National Statistics (ONS) has today revealed a rise in UK industrial production for the month of November. The official data showed that output rose by 0.4% in November compared with October and was slightly higher than analysts expectations of a 0.3% rise. The figures will boost hopes that the UK emerged from [...]

January 13, 2010 | 0 Comments More
UK interest rates unchanged at 0.5%

UK interest rates unchanged at 0.5%

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the record low of 0.5% - a level which has been in force since March 2009. Furthermore there are no changes to its quantitative easing (QE) programme. In November, the Bank announced that it would pump [...]

January 7, 2010 | 0 Comments More
Ireland emerges from recession

Ireland emerges from recession

Official figures have today revealed that Ireland’s economy grew by 0.3% in the third quarter compared with the previous quarter and has therefore exited recession. The economy has been one of the worst performers in the western world this year but has now emerged from what was one of Europe’s worst recessions. However, despite the [...]

December 17, 2009 | 0 Comments More
Euro zone interest rates on hold at 1%

Euro zone interest rates on hold at 1%

The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the seventh consecutive month, as widely expected. ECB president, Jean-Claude Trichet, told reporters at a news conference that the euro zone economy is expected to grow at a moderate pace in 2010. He also added [...]

December 3, 2009 | 0 Comments More
Japan continues recovery as exports pick up

Japan continues recovery as exports pick up

The Japanese economy cemented its recovery today after it emerged that exports totalled 5.3 trillion yen in October - a fall of 23.2% compared with the same month a year go. The Japanese economy, which is the world’s second largest, is heavily dependent on exports and suffered its worst recession in decades as it was [...]

November 25, 2009 | 0 Comments More
Deflation returns to world’s second largest economy

Deflation returns to world’s second largest economy

Naoto Kan, Japan’s deputy prime minister, has today acknowledged that deflation has returned to the world’s no.2 economy for the first time since 2006. The Cabinet Office said in a statement that “Japan is in a mild deflationary situation”. A short period of deflation (where prices fall rather than increase) could be a serious threat [...]

November 20, 2009 | 0 Comments More
US retail sales up 1.4% in October

US retail sales up 1.4% in October

Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%. The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ [...]

November 16, 2009 | 0 Comments More
Japanese economy grows for second consecutive quarter

Japanese economy grows for second consecutive quarter

Japan’s economy grew by 1.2% in the third quarter confirming that it has officially exited recession. The news comes just a few days after France and Germany’s economies also experienced positive growth in the third quarter, while it was confirmed on Friday that the euro zone had emerged from recession in the third quarter. The [...]

November 16, 2009 | 0 Comments More
UK lags behind as euro zone becomes latest economy to exit recession

UK lags behind as euro zone becomes latest economy to exit recession

Official figures have today revealed that the euro zone economy experienced positive growth of 0.4% in the third quarter, and therefore exiting from recession. The 16 nations that use the euro was boosted by strong growth in Germany, and joins other major economies, such as the US and Japan, which have also exited recession. However, [...]

November 13, 2009 | 0 Comments More
Has the world’s largest economy exited recession?

Has the world’s largest economy exited recession?

Figures due at 1230 GMT will reveal if the US economy has exited recession. The US entered the current recession in late 2007 and many analysts believe the world’s largest economy will have exited recession by experiencing positive growth of 3% in the third quarter (according to David Buik at BGC Partners). However, there are [...]

October 29, 2009 | 0 Comments More
ONS to reveal GDP figures for Q3 today

ONS to reveal GDP figures for Q3 today

At 0930 BST today, the Office for National Statistics (ONS) will release UK GDP figures for the third quarter. If the UK economy experiences positive growth in the July to September period, it will mean the economy has exited recession. If not, it will be the first time the UK has endured six consecutive quarters [...]

October 23, 2009 | 0 Comments More