UK Service Sector Moves Closer To Stabilization

RTTNews | Před 857 dny

(RTTNews) - The UK service sector moved closer to stabilization from the contraction zone in December despite challenging business environment and the cost of living crisis, a closely watched survey showed Thursday.

The final S&P Global/Chartered Institute of Procurement and Supply services Purchasing Managers' Index improved to 49.9 from 48.8 in November. The flash reading was 50.0.

The score has been below the 50.0 no-change mark for the third month in a row. The survey has suggested that cost of living pressures and high inflation continued to depress consumption.

Domestic weakness depressed overall sales. By contrast, export business rose for the first time since August.

Although the upward pressures on prices continued, there were signs of slowing as the rate of inflation was the lowest in 15 months. Firms again suggested little option but to pass on increased costs wherever possible. Output prices increased at the slowest pace since the start of 2022.

There was no change in employment in December, thereby snapping a 21-month sequence of jobs growth. Although firms were more optimistic than in November, firms remained worried about the corrosive effects on consumption of high inflation.

The UK private sector contracted for the fifth consecutive month in December. With services registering a very fractional fall, the overall fall in private sector activity was only marginal.

The composite output index advanced to 49.0 from 48.2 a month ago. The reading was in line with the flash estimate.

Značky : GBP

Bank Of England Cuts Key Rate By 25 Bps Amid Trade Tariff Concerns

The Bank of England reduced its interest rate by a quarter-point on Thursday, as policymakers judged that higher trade tariffs warrant such action amid slowing inflation. In a three-way split, the Monetary Policy Committee, governed by Andrew Bailey, lowered the bank rate to 4.25 percent. This was the fourth such reduction since last August.

RTTNews | Před 3 dny

UK House Prices Rise For First Time In 3 Months

UK house prices rose moderately in April despite an end to the stamp duty holiday and worsening economic outlook, data published by mortgage lender Halifax revealed on Thursday. House prices climbed 0.3 percent on a monthly basis in April after falling for two straight months. On a yearly basis, growth in house prices accelerated to 3.2 percent from 2.9 percent in the previous month.

RTTNews | Před 3 dny

UK Construction Sector Continues To Shrink

The UK construction activity continued to contract in April as business uncertainty and concerns about economic outlook damped client demand, survey data from S&P Global showed on Wednesday. The construction Purchasing Managers' Index rose unexpectedly to 46.6 in April from 46.4 in March. This was the slowest decline in output levels for three months.

RTTNews | Před 4 dny

UK Car Sales Drop 10.4% In April As Higher Taxes Hurt - SMMT

New car registrations in the U.K. decreased in April mainly due to customers making purchases early to avoid higher taxes that came into effect at the start of the month, though electric car sales continued to increase, monthly data from the Society of Motor Manufacturers and Traders showed on Tuesday.

RTTNews | Před 5 dny

UK Mortgage Approvals Lowest In 8 Months

UK mortgage approvals decreased to the lowest level in eight months in March despite home buyers rushing to complete the transactions ahead of the rise in stamp duty, official data revealed on Thursday. Mortgage approvals decreased 800 to 64,309 in March, the Bank of England said. Approvals for house purchases, an indicator of future borrowing, decreased for the third straight month.

RTTNews | Před 10 dny

UK House Prices Fall More Than Expected

UK house price declined more than expected in April following the end of stamp duty holidays, data from the Nationwide Building Society showed Wednesday. House prices logged a monthly drop of 0.6 percent after remaining flat in March. The decline was worse than economists' forecast of 0.1 percent. On a yearly basis, house price growth eased to 3.4 percent from 3.9 percent in the previous month.

RTTNews | Před 11 dny

UK Retail Sales Rise; Consumer Sentiment Weakens

UK retail sales grew unexpectedly in March as good weather boosted demand for clothing and garden supplies, but U.S. President Donald Trump's tariff threats and concerns of higher inflation dampened consumer sentiment, data showed Friday. Retail sales grew 0.4 percent on a monthly basis, confounding expectations for a decline of 0.3 percent.

RTTNews | Před 16 dny

UK Auto Production Surges On Foreign Demand

UK auto production logged a double-digit growth in March but the expansion was not sufficient to offset the first quarter decline, the Society of Motor Manufacturers and Traders, or SMMT, said Friday. Production of cars and commercial vehicles advanced 17.1 percent year-on-year in March. Production for home market climbed 4.7 percent and that for foreign market surged 23.4 percent.

RTTNews | Před 16 dny

EURUSD	1.12578	GBPUSD	1.33126	AUDUSD	0.64134
USDJPY	145.282	USDCAD	1.39279	USDCHF	0.83115

Advertisement

UK Service Sector Moves Closer To Stabilization