GBP Forex News
UK Retail Sales Stable In March
UK retail sales were unchanged on a month-on-month basis in March, defying expectations for a gain, preliminary data from the Office for National Statistics showed Friday. Retail sales including automotive fuel grew 0.1 percent in the previous month. Economists were looking for a 0.3 percent gain for March.
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5 days ago
UK Inflation Slows Less Than Forecast
UK consumer price inflation softened less than expected in March but hit the lowest in two-and-a-half years on food prices, adding uncertainty to the timing of the first interest rate cut from the Bank of England. Inflation weakened to 3.2 percent in March from 3.4 percent in February, the Office for National Statistics reported Wednesday.
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7 days ago
UK Unemployment Rate Rises; Wage Growth Slows
The increase in the UK unemployment rate and the marginal slowdown in wage growth in the three months to February suggest an easing of pressure in the labor market. The ILO jobless rate rose to 4.2 percent from 3.9 percent in three months to January, the Office for National Statistics reported Tuesday. The rate was seen at 4.0 percent.
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8 days ago
UK Economy Expands For Second Month
The UK economy expanded for the second straight month in February suggesting that it is set to move out of a technical recession, thanks to the rebound in manufacturing output. Real gross domestic product edged up 0.1 percent on a monthly basis in February, the Office for National Statistics said Friday. The growth for January was revised higher to 0.3 percent from 0.2 percent.
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12 days ago
UK House Prices Fall For First Time In 6 Months
UK house prices declined for the first time in six months in March, data published by the mortgage lender Halifax showed Friday. House prices dropped 1.0 percent on a monthly basis in March, in contrast to the 0.3 percent rise in February. This was the first decrease since September. Prices were expected to climb 0.3 percent.
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19 days ago
UK Mortgage Approvals Hit 17-Month High
UK mortgage approvals increased more than expected to a 17-month high in February as markets expect interest rate cuts this year. Mortgage approvals for house purchases rose to 60,400 in February from 56,100 in January, the Bank of England reported Tuesday. This was the highest since September 2022 and also exceeded the forecast of 57,000.
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22 days ago
UK House Prices Log Unexpected Fall - Nationwide
UK house prices declined unexpectedly in March as higher interest rates continue to damp affordability, data published by the Nationwide Building Society revealed Tuesday. The house price index posted a monthly fall of 0.2 percent in March, in contrast to the 0.7 percent rise in February and confounding the forecast of 0.3 percent gain.
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22 days ago
UK Confirms Q4 Recession
Confirming a mild recession in the UK, official data showed that the economy contracted as initially estimated in the fourth quarter. Gross domestic product fell by an unrevised 0.3 percent after a 0.1 percent drop in the third quarter, the Office for National Statistics said Thursday. The UK economy grew only 0.1 percent in 2023, much weaker than the 4.3 percent expansion seen in 2022.
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27 days ago
Pound Slides Amid BoE Rate Cut Speculation
The British pound weakened against most major currencies in the European session on Thursday, in the wake of dovish comments from BoE's Bailey about rate cuts.
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27 days ago
UK Retail Sales Stable Amid Wet Weather
UK retail sales steadied in February after rebounding at the start of the year, as poor weather lead to a reduction in footfall, data released by the Office for National Statistics showed on Friday. Retail sales were unchanged from January, when they expanded by a revised 3.6 percent in January. Sales were forecast to fall 0.4 percent.
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33 days ago
