Tag: sterling

Inflation rises unexpectedly in March

Inflation rises unexpectedly in March

Higher food and clothing prices helped to push inflation up slightly to 3.5 per cent in March, from 3.4 per cent in February. The rise in inflation on the Consumer Prices Index (CPI) was unexpected and represents a break in a downward trend which started in September. It is a setback to the Bank of [...]

April 17, 2012 | 0 Comments More
UK Q1 economic growth figures remain unchanged

UK Q1 economic growth figures remain unchanged

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.5% in the January to March period – unchanged from the previous two estimates. In the meantime, annual growth was revised down to 1.6% from 1.8%. The growth, albeit slow, expanded primarily due to exports, with net trade contributing 1.4% points [...]

June 28, 2011 | 0 Comments More
London’s New Bond Street is Europe’s most expensive retail location

London’s New Bond Street is Europe’s most expensive retail location

A report by property firm Cushman & Wakefield has revealed New Bond Street in London is Europe’s most expensive retail location with rates soaring by 19.4% on year. Store rents grew to £536 per square foot per year, higher than those on Paris’ Avenue des Champs-Elysees. New Bond Street is home to exclusive brands such [...]

September 21, 2010 | 0 Comments More
Number of second homeowners soar to record levels

Number of second homeowners soar to record levels

Research by estate agent Knight Frank has found the number of second homeowners in England has soared to a record level of almost a quarter of a million. According to the estate agent, a change in holiday plans mean an increasing amount of buyers believe that a second home is “an investment, rather than a [...]

August 18, 2010 | 0 Comments More
Government borrowing exceeds £14bn in June

Government borrowing exceeds £14bn in June

The Office for National Statistics (ONS) has today revealed public sector borrowing totalled £14.5 billion in June. While the figure was slightly lower than the £14.7 billion seen in June last year, it surprised economists who expected the figure to be around £13.1 billion. Overall, Government debt stands at £926.9 billion – the equivalent to [...]

July 20, 2010 | 0 Comments More
Falling unemployment boosts sterling

Falling unemployment boosts sterling

The reported decline in UK unemployment figures last month gave sterling an extra boost, pushing the euro/sterling rate towards the €1.20 mark, exchange rate analysts observed. Unemployment fell to 7.8% in June, down from 8.0% in April. Exchange rate specialist Caxton FX said the rise in employment shows employers are willing to recruit, and represent [...]

July 15, 2010 | 0 Comments More
UK Q1 economic growth figures remain unchanged

UK Q1 economic growth figures remain unchanged

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.3% in the January to March period – unchanged from the previously estimated figure, but marginally higher than the first estimate of 0.2%. Analysts had expected GDP to remain unchanged in the first quarter but many economists believe that economic growth [...]

July 12, 2010 | 0 Comments More
Sterling sinks to 13-month dollar low

Sterling sinks to 13-month dollar low

Britain’s ongoing deficit worries continue to weigh heavily on the economy and this was evident after the pound fell to a 13-month low against the dollar today. Sterling fell as low as $1.4249 - its lowest level since March 2009, before recovering to $1.4435 - down 0.7% on the day. Today, at his first press [...]

May 17, 2010 | 0 Comments More
Bank of England unveils Quarterly Inflation Report

Bank of England unveils Quarterly Inflation Report

In its latest Inflation Report, the Bank of England is predicting that inflation would remain above the 2% target for the remainder of 2010. Last month, it was revealed the UK’s rate of inflation rose to 3.4% in March, up from 3% in February. The CPI inflation rate is a benchmark for the Bank of [...]

May 12, 2010 | 0 Comments More
Hung parliament looking increasingly likely

Hung parliament looking increasingly likely

There is further economic uncertainty today after a hung parliament looked increasingly likely in the early hours of Friday. The news sent the pound falling by 1.5 cents overnight, from above $1.51, to trade as low at $1.4596 at one point - a 12-month low. A hung parliament (in which no one political party has [...]

May 7, 2010 | 0 Comments More
UK trade deficit narrows in February

UK trade deficit narrows in February

The Office for National Statistics (ONS) has today revealed the UK’s trade gap narrowed in February, due to a recovery in exports. According to the ONS, goods exports surged 9.5% in February, following on from a wintry January which affected trade. The ONS said the February deficit on goods trade narrowed to £6.17 billion, down [...]

April 13, 2010 | 0 Comments More
UK unemployment continues to fall

UK unemployment continues to fall

The Office for National Statistics (ONS) has today revealed that UK unemployment fell slightly in the three months to January to 2.45 million. The latest figures take the unemployment rate to 7.8%, according to the ONS. In the meantime, the number of Britons claiming jobseeker’s allowance (JSA) also fell by 32,300 in February to 1.59 [...]

March 17, 2010 | 0 Comments More
Sterling dives to 10-month low amid election fears

Sterling dives to 10-month low amid election fears

The pound plummeted to a 10-month low today over fears of a possible hung parliament in the forthcoming election. Sterling lost 1.6% and dipped below $1.50 for the first time since May 2009 - it has already lost 7% against the dollar this year. The pound also lost ground against the euro and many other [...]

March 1, 2010 | 0 Comments More
ONS to publish second Q4 GDP estimate

ONS to publish second Q4 GDP estimate

Last month, the Office for National Statistics (ONS) revealed the UK crawled out of recession in the fourth quarter by seeing growth of just 0.1% in the final three months of 2009. However, the figures were only the first estimate and the second estimate is to be released this morning. Yesterday, the ONS reported a [...]

February 26, 2010 | 0 Comments More
UK inflation rate falls in September to 1.1%

UK inflation rate falls in September to 1.1%

The Consumer Prices Index (CPI), a key measure of inflation, has fallen from 1.6% to an annual 1.1% in August - the lowest level since September 2004, the Office for National Statistics (ONS) said today. While the decline in inflation was higher than analysts had expected, it was primarily due to lower food and energy [...]

October 13, 2009 | 0 Comments More
FTSE 100 reaches 2009 high

FTSE 100 reaches 2009 high

The FTSE 100 Index rose to 5231.16 today - a new record for the year to date. London’s FTSE responded to strong gains seen on the Dow Jones Industrial Average last Friday, which hit a 12-month high. Since its low point in March this year, the FTSE 100 Index has risen around 50% with companies [...]

October 12, 2009 | 0 Comments More
Dollar receives a boost after 1st day of G20 summit

Dollar receives a boost after 1st day of G20 summit

Sterling fell this morning to a near four-month low to $1.5917 against the US dollar before creeping back up to $1.5989. The level was the lowest seen since early June after G20 leaders said stimulus packages will remain until a recovery is sustainable. However, the pound is still currently higher than the low levels of [...]

September 25, 2009 | 0 Comments More
BRC reports fall in UK retail sales in August

BRC reports fall in UK retail sales in August

The British Retail Consortium (BRC) has today revealed a fall in retail sales for the month of August due to the rainfall which kept shoppers away from the High Street. UK like-for-like sales (which excludes new stores) fell 0.1% compared with August 2008, according to the BRC. Sales of clothing and footwear lost ground, while [...]

September 8, 2009 | 0 Comments More
NIESR warns of period of stagnation

NIESR warns of period of stagnation

Influential think tank, the National Institute of Economic and Social Research (NIESR) said today that Gross Domestic Product (GDP) grew 0.2% in the third quarter after a 0.3% fall in the April to June period. The NIESR specialises in estimating GDP prior to the release of figures from the Office for National Statistics. However, while [...]

Which? Money warns sterling is still “plodding”

Which? Money warns sterling is still “plodding”

The price of sterling is “creeping up” against foreign currency, but is yet to rise significantly, Which? Money has observed. Dan Moore, senior researcher at the consumer rights group, said the increase in British manufacturing output and the emergence of Germany, France, and Japan from recession have strengthened the pound. However, for the average holidaymaker, [...]

August 21, 2009 | 0 Comments More