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Wednesday 28th of July 2010
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News Tag: outlook

July 26, 2010

S.Korea economy expands 1.5% in Q2

by Kay Murchie
”S.Korea
Figures today revealed South Korea's economy grew by 1.5% in the second quarter compared with the first quarter - much faster than economists had expected. On an annual basis, the economy expanded by 7.2% and, according to the central bank, growth has returned to the pre-crisis level. According to economists, the level of growth could lead the Bank of Korea to increase ...



July 22, 2010

UK retail sales up 0.7% in June

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today announced a rise in UK retail sales for the month of June - exceeding market forecasts. According to the ONS, the value of UK retail sales grew 0.7% in June compared with May, boosted by sales of electrical goods, such as televisions for the World Cup. Excluding petrol sales, sales rose 1% on the ...



July 7, 2010

Q1 sales growth slows at M&S

by Kay Murchie
”Q1
British retailing giant, Marks and Spencer (M&S;), has today announced UK same-store sales grew in its first quarter (13 weeks to 3 July), while food sales rose 1.5% and general merchandise was 6% higher. While the figures represented the third quarter of sales growth in a row, it was slower than the 5.1% increase in the previous quarter. The 126-year-old retailer which sells ...



May 28, 2010

British consumer confidence takes another dive

by Kay Murchie
”British
It seems British people are concerned about the economic outlook after the GfK consumer confidence index dipped two points in May to -18 from -16 in April. The reading is the lowest level since January but higher than the -27 reported in May 2009. The news will come as a blow to the new coalition Government, according to Nick Moon, managing director of ...



May 25, 2010

M&S announces 4.6% rise in pre-tax profits

by Kay Murchie
”M&S
British retailing giant, Marks and Spencer (M&S;), has today announced pre-tax profits totalled £632.5 million for the 12 months to 27 March - a rise of 4.6% on the same period a year ago. UK like-for-like sales, which strip out the impact of new store openings, grew 0.9% over the 12-month period. Sales of general merchandise, which includes clothes, increased ...



March 4, 2010

Car sales up 26.4% in February

by Kay Murchie
”Car
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales were up by 26.4% in February compared with the same month in 2009, boosted by the Government’s scrappage scheme. The £400 million initiative, which was launched last May to boost the ailing car industry, pays drivers of cars at least 10 years old £2,000 off the price of ...



February 15, 2010

CIPD expects unemployment to rise

by Kay Murchie
...



February 1, 2010

Russia’s economy contracts 7.9% in 2009

by Kay Murchie
...



January 11, 2010

Survey reveals pessimism in financial services sector

by Kay Murchie
”Survey
A quarterly survey of the UK’s financial services sector by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) has revealed that firms remain cautious in their outlook. According to Ian McCafferty, chief economic adviser at the CBI: “The bounce in UK financial services activity over the past six months is not expected to last as we enter 2010. “Firms see their ...



December 17, 2009

Ireland emerges from recession

by Kay Murchie
”Ireland
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 positive growth in the third quarter, economists have warned ...



November 30, 2009

UK service firms see weak performance in Q3

by Kay Murchie
”UK
A survey by the Confederation of British Industry (CBI) has today revealed a poor performance among services companies in the July to September period. The group said a net 13% balance of service firms said profits had increased annually for the quarter, less than the 19% expected. Business services firms such as accountancy and law practices had expected sales to improve ...



November 11, 2009

Bank issues latest quarterly inflation report

by Kay Murchie
Bank issues latest quarterly inflation report
The Bank of England’s latest quarterly inflation report, published today, has revealed a much better outlook for the UK economy than its previous report in August. The Bank increased its forecast for economic growth over the next two years predicting that gross domestic product (GDP) should rise above 4% early 2011 before slowing to 3% by the end of 2012. In its ...



October 29, 2009

Shell posts 73% fall in third quarter profits

by Kay Murchie
”Shell
Royal Dutch Shell has today posted a 73% fall in profits for the July to September period. The Anglo-Dutch oil giant warned that the outlook remains "very uncertain" and according to The Times, is to eliminate 5,000 positions, around 10% of its workforce. The group said its cost-cutting exercise means that 5,000 staff would leave the group as part of the ...



September 22, 2009

Survey reveals SMEs concerned about economy

by Kay Murchie
”Survey
More than half of small & medium-sized business owners (57%) believe that the recession will continue until at least next spring. The findings are a result of a survey conducted by Amplify - the communications company. Amplify conducted the survey during the summer and also found that business owners would have done things differently if they had to endure another recession ...



September 3, 2009

Fed minutes reveal upbeat outlook for US economy

by Kay Murchie
Fed minutes reveal upbeat outlook for US economy
Minutes from the latest Federal Reserve meeting have revealed that policymakers are optimistic that the US downturn is coming to an end. However, the minutes did say that the economy is “likely to recover only slowly during the second half of this year and all saw it as still vulnerable to adverse shocks." Furthermore, policymakers expressed their uncertainty as to how ...



August 11, 2009

Japan holds key interest rate and adopts cautious approach

by Kay Murchie
”Japan
Japan's central bank has again kept its key interest rate at 0.1% and has adopted a cautious outlook for the economy. Interest rates in the world’s second largest economy have been on hold since December, when the Bank reduced rates from 0.3%. The bank said conditions had stopped deteriorating but warned that unemployment is expected to rise and ...



July 22, 2009

NIESR provides pessimistic outlook for UK economy

by Kay Murchie
”NIESR
The National Institute of Economic and Social Research (NIESR) is joining many other leading think tanks by forecasting a slow recovery in the UK. The research body is expecting total UK Gross Domestic Product (GDP) to fall 4.3% this year before experiencing modest growth of 1% next year and 1.8% the year after. The forecasts are far more pessimistic than those issued ...



July 21, 2009

BRC warns of rising vacant High Street stores

by Kay Murchie
”BRC
The British Retail Consortium (BRC) is forecasting a bleak outlook for High Street shops after figures show that around 12% of town centre shops are currently empty. The organisation said stores need to be unique with individual character being the key in order to survive the downturn. A report by the BRC found that some town centres are recording empty ...



June 22, 2009

CEBR study reveals gloomy outlook for business services sector

by Kay Murchie
”CEBR
There is bad news today with regard to UK jobs after the Centre for Economics and Business Research (CEBR) warned that 334,000 jobs will be axed across the business services sector by 2011. The study suggests that the credit crunch and recession will result in more than half of the jobs that were created in the sector during the ...



May 22, 2009

Japan revises economic outlook upwards

by Kay Murchie
”Japan
The Bank of Japan has announced renewed optimism and said that the worst of the recession might be over and has revised its economic outlook upwards. The outlook comes after the bank announced it had retained interest rates at the 0.1% level. Interest rates were cut by 20 basis points in December last year and have been on hold ever since. The export-dependent economy, which ...



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