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Saturday 26th of February 2011

News Tag: quarter three

December 22, 2010

Bank minutes reveal another three-way split in December

by Kay Murchie
’Bank
Minutes of the Bank of England’s December meeting have been released today and have revealed that the Monetary Policy Committee (MPC) were split three ways – for the third consecutive month. Adam Posen, again, called for an injection of £50 billion via the Bank’s quantitative easing (QE) programme to boost the economy. Furthermore, for the seventh consecutive month, policymaker Andrew Sentance ...



UK Q3 economic growth figures revised down

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.7% in the July to September period – down from its previous estimate of 0.8%. On an annual basis, meanwhile, growth was also revised down to 2.7% from 2.8%. Both figures surprised economists who had expected quarterly and annual growth to remain unchanged. Today’s estimate is ...



December 7, 2010

Tesco reports rise in Q3 sales

by Kay Murchie
”Tesco
Supermarket giant Tesco has today reported an increase in sales for the 13-week period to November 27. Like-for-like UK sales excluding fuel grew 1.5% in the three month period, while overseas growth rose by 4.1%. However, growth surged in the US, with a 9.8% rise on a like-for-like basis. The supermarket, which is the UK’s largest retailer, runs over than 5,000 stores in more ...



November 24, 2010

UK Q3 economic growth figures remain unchanged

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.8% in the July to September period – unrevised from its initial estimate last month. Today’s estimate is the second reading, a third and final estimate will be available next month. The ONS also confirmed that the economy grew by 2.8% on an annual basis. According to the ONS, ...



November 23, 2010

US Q3 economic growth figures revised upwards

by Kay Murchie
”US
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 consumer spending and business investment. However, despite the ...



November 12, 2010

Euro zone Q3 growth slows

by Kay Murchie
”Euro
The European Union's statistics office, Eurostat, has today revealed growth in the 16 countries that use the euro slowed in the third quarter. According to Eurostat, the euro zone grew 0.4% in the July to September period, compared with 1% in the second quarter. On an annual basis, growth was recorded at 1.9%. It follows a similar trend to that of other economies, which have ...



Italian growth slows in Q3

by Kay Murchie
Italian growth slows in Q3
Official figures today showed Italian economic growth slowed in the July to September period. Italy’s statistics office, Istat, said the economy expanded by 0.2% in the third quarter, slowing from the 0.5% growth recorded in the second quarter. The growth rate was half the 0.4% expected by analysts. On an annual basis, meanwhile, the economy grew by 1% - again missing expectations of a ...



Germany and France see slowdown in Q3

by Kay Murchie
”Germany
Germany, which is Europe’s largest economy, saw a slowdown in quarter three economic growth after a record second quarter. German statistics office, Destatis, said the economy grew 0.7% in the July to September period - compared with the record expansion of 2.3% in the April to June quarter - which represented the fastest since German reunification in 1990. The 0.7% figure was ...



November 11, 2010

CML reports further fall in repossessions

by Kay Murchie
CML reports further fall in repossessions
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions - the fourth consecutive quarter in which they have fallen. According to the Council, lenders seized 8,900 properties in the July to September period - representing a fall of 5% compared with the second quarter. Experts argued, though, that many homeowners have been saved from repossession, due to ...



October 27, 2010

Deutsche Bank reveals Q3 loss

by Kay Murchie
Deutsche Bank reveals Q3 loss
Germany’s largest lender, Deutsche Bank, today announced a loss for the third quarter, owing to its take over of retail bank, Postbank. The bank reported a net loss of €1.2 billion (£1.05 billion), compared with a €1.39 billion profit in the same period last year. However, the figures still beat forecast of a €1.48 billion loss for the current-year period. Excluding Postbank, net profit ...



October 25, 2010

Q3 GDP figures to be published tomorrow

by Kay Murchie
”Q3
The initial reading of third quarter economic growth will be published tomorrow by the Office for National Statistics (ONS). Economists expect growth to slow to 0.4% in the July to September period – down from 1.2% in the second quarter. However, tomorrow’s estimate is the first of three and could be revised upwards or downwards in the coming months since at this ...



October 19, 2010

Bank of America unveils Q3 losses

by Kay Murchie
Bank of America unveils Q3 losses
Bank of America, which the US’ largest bank, has today unveiled a net loss of $7.3 billion, or 77 cents per share, compared with a loss of $2.2 billion, or 26 cents per share, a year earlier. The banking giant said it had a one-off impairment charge of $10.4 billion for the July to September period. Meanwhile, net interest income declined for ...



August 9, 2010

France GDP set to slow in third quarter

by Kay Murchie
”France
The Bank of France has predicted the French economy will grow by 0.3% in the July to September quarter, following growth of 0.4% in the second quarter. The recovery of the euro zone’s second largest economy is therefore likely to lose a little momentum, partly due to a slowdown in industry production at the start of the third quarter. INSEE, ...



December 22, 2009

UK economic growth figures revised upwards

by Kay Murchie
”UK
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 last year. Today’s figures are the last ...



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 23, 2009

All OECD economies see growth in Q3

by Kay Murchie
”All
The economies of the 30 members of the Organisation for Economic Co-operation and Development (OECD) posted growth of 0.8% in third quarter - the first time economic output among the OECD economies grew since the January to March period last year. OECD members account for 61.3% of global Gross Domestic Product (GDP). The Organisation has now upwardly revised its growth forecast ...



October 23, 2009

UK economy fails to emerge from recession in Q3

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today unveiled some disappointing news after it has emerged that the UK economy shrank by 0.4% in the July to September period, meaning the country is still in recession. However, it must be noted that today’s figures could still be revised up or down at a later date, since the 0.4% figure ...



October 22, 2009

Chinese Q3 GDP growth soars

by Kay Murchie
”Chinese
Official figures show that Chinese GDP growth surged to 8.9% in the July to September period, up from 7.9% in the April to June period. The strong result was due to all sectors performing strongly and was the fastest GDP growth since quarter three last year. Many analysts have described China's recovery as “impressive”. In the nine months to September, the Chinese economy expanded ...



October 21, 2009

Cadbury sees strong third quarter

by Kay Murchie
”Cadbury
The maker of Dairy Milk chocolate, Cadbury, has exceeded analysts expectations in the third quarter after reporting a 7% rise compared with the same period a year ago. Analysts had been expected growth of around 4% and the news sent shares up 0.9% to 808p in the British confectionery giant. Cadbury chief executive, Todd Stitzer, said: "We have great momentum in our business ...



October 16, 2009

Bank of America unveils $1bn Q3 loss

by Kay Murchie
Bank of America unveils $1bn Q3 loss
Bank of America has today unveiled a $1 billion (£612 million) net loss for the third quarter - worse than the market had expected. The figure compares with a net profit of $3.2 billion in the second quarter and $1.2 billion in the same period a year earlier. The banking giant is the fourth major US bank to report its quarter ...



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