GBP Forex News

UK Private Sector Grows At Slowest Pace In 7 Months

UK Private Sector Grows At Slowest Pace In 7 Months

The UK private sector growth weakened to a seven-month low in June as the slowdown in the service sector growth offset the stronger performance in manufacturing, flash survey results published by S&P Global revealed on Friday. The flash composite output index dropped unexpectedly to 51.7 in June from 53.0 in May. The score was forecast to rise marginally to 53.1.
RTTNews | 2 days ago
UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate

UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate

The UK public sector net debt rose to its highest level since early 1960s, while public sector borrowing remained below the official estimate, the Office for National Statistics reported Friday. Public sector net debt excluding public sector banks was estimated at 99.8 percent of gross domestic product at the end of May. This was 3.7 percentage points more than at the end of May 2023.
RTTNews | 2 days ago
UK Retail Sales Rebound In May

UK Retail Sales Rebound In May

UK retail sales rebounded in May as sales across all sectors recovered after poor weather damped turnover in April, official data revealed on Friday. The retail sales volume grew 2.9 percent on a monthly basis, offsetting the 1.8 percent fall in April, the Office for National Statistics reported. The growth also exceeded economists' forecast of 1.5 percent.
RTTNews | 2 days ago
Bank Of England Holds Rate At 16-Year High Despite Slowing Inflation

Bank Of England Holds Rate At 16-Year High Despite Slowing Inflation

The Bank of England retained its key policy rate on Thursday at a 16-year high despite inflation easing to the 2 percent target as policymakers are still concerned about services inflation and wage growth. The Monetary Policy Committee, led by Governor Andrew Bailey, decided to hold the bank rate at 5.25 percent again in a split vote. The current bank rate is the highest since early 2008.
RTTNews | 3 days ago
UK Inflation Eases To 2% Target

UK Inflation Eases To 2% Target

UK consumer price inflation hit the 2 percent target in May, data from the Office for National Statistics showed on Wednesday. Consumer price inflation softened to 2.0 percent in May, as expected, from 2.3 percent in April. The central bank targets to keep inflation at 2 percent.
RTTNews | 4 days ago
UK Economy Flatlines As Election Looms

UK Economy Flatlines As Election Looms

The UK economy stagnated in April as services growth was offset by falls in production and construction output, which was largely caused by an unusually wet weather, and dealt a setback to Prime Minister Rishi Sunak ahead of the July 4 general election. Gross domestic product remained flat on month, as expected, after expanding 0.4 percent in March, the Office for National Statistics said Wednesd
RTTNews | 11 days ago
UK Jobless Rate Falls; Wage Growth Remains Strong

UK Jobless Rate Falls; Wage Growth Remains Strong

The UK unemployment rate fell to the lowest since the middle of 2021 but the wage growth remained strong in three months to April, adding weight to the view that the next Bank of England interest rate cut will be in August. The unemployment rate rose to 4.4 percent in the three months to April from 4.3 percent in three months to March, the Office for National Statistics reported.
RTTNews | 12 days ago
UK Job Placements Fall At Slowest Pace In More Than A Year: KPMG/REC Report

UK Job Placements Fall At Slowest Pace In More Than A Year: KPMG/REC Report

UK permanent staff appointments fell for the twentieth consecutive month in May but the pace of decrease was the softest since March 2023, a report compiled by S&P Global showed on Monday. Recruitment consultants cited delayed decision making and a lack of demand amongst companies as reasons for the fall in recruitment activity, the KPMG/REC Report on Jobs revealed.
RTTNews | 13 days ago
UK House Prices Log Marginal Fall May: Halifax

UK House Prices Log Marginal Fall May: Halifax

UK house market remained broadly stable with a marginal fall in house prices in May, data from the mortgage lender Halifax showed on Friday. House prices dropped unexpectedly by 0.1 percent month-on-month in May after remaining flat in April. Prices were expected to grow 0.2 percent.
RTTNews | 16 days ago
UK Construction Growth Fastest In Nearly Two Years

UK Construction Growth Fastest In Nearly Two Years

The UK construction sector logged its fastest growth in two years in May with activity and new orders increasing at sharper rates, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index rose unexpectedly to 54.7 in May from 53.0 in April. The reading was forecast to fall to 52.5.
RTTNews | 17 days ago