UK Service Sector Moves Closer To Stabilization

RTTNews | 998天前

(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.

标签: GBP

UK Mortgage Approvals Decline; Consumer Credit Remains Unchanged

UK mortgage approvals declined in August ahead of the autumn budget and consumer credit remained flat, official data showed Monday. The number of mortgage approvals, which is an indicator of future borrowing, fell by 500 to 64,700 in August, the Bank of England reported. This was also below the expected level of 65,000.

RTTNews | 9小时47分钟前

UK Budget Shortfall Overshoots Estimate

UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget. Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.

RTTNews | 10天前

Bank Of England Holds Key Rate; Slows Quantitative Tightening

The Bank of England left its interest rate unchanged and softened its pace of quantitative tightening on Thursday, as policymakers were wary about risks to inflation in the U.K. The BoE Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to maintain the bank rate at 4.00 percent.

RTTNews | 11天前

UK Inflation Unchanged At 3.8%

U.K. consumer price inflation remained sticky in August on higher food prices, official data showed Wednesday, ahead of the policy announcement by the Bank of England on Thursday. The consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July, the Office for National Statistics reported. Inflation matched economists' expectations and stood well ab

RTTNews | 12天前

UK Economy Flatlines In July

The UK economy stagnated in July, posing further challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampens activity. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday.

RTTNews | 17天前

UK House Prices Rise For Third Month: Halifax

UK house prices increased for the third straight month to hit the highest on record in August, data from the mortgage lender Halifax showed Friday. House prices grew 0.3 percent in August from a month ago. However, this was slightly weaker than the 0.4 percent increase in July. Prices increased for the third straight month and logged a faster-than- expected rise of 0.2 percent.

RTTNews | 24天前

UK Construction Sector Continues To Shrink

The UK construction sector contracted for the eighth consecutive month in August due to marked reductions in the housing and civil engineering works, survey data published by S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 45.5 in August, up from 44.3 in July. However, the score remained well below the 50.0 mark indicating sharp fall in construction output.

RTTNews | 25天前

UK Mortgage Approvals Rise To 6-Month High

UK mortgage approvals increased to the highest in six months in July but secured lending decreased to a two month low, official data showed Monday. Mortgage approvals for house purchases, an indicator of future borrowing, rose by 800 to 65,400 in July, the Bank of England said. This was the highest total since January, when approvals hit 65,775. Approvals were forecast to drop to 64,000.

RTTNews | 28天前

EURUSD	1.17252	GBPUSD	1.34265	AUDUSD	0.65748
USDJPY	148.585	USDCAD	1.39183	USDCHF	0.79729