UK retail sales rebounded in January as concerns about Omicron eased. Retail sales volumes increased by 1.9% compared to the previous month, according to the statistical service. Economists expected retail sales to grow by 2%. “After a sluggish December where the Omicron wave had a significant impact, retail sales recovered in January with the biggest […]
Tag: United Kingdom
Retail sales grow 9.1% annually in January, improving expectations
UK retail sales grew by 9.1% annually in January, above the 8.7% expected, and notably improving on the 1.7% drop seen in December. January’s is the biggest rise seen by the indicator since last June. The monthly retail sales increased 1.9%, improving the estimated 1% and -4% from the previous month. This is the largest […]
Annual inflation grows 5.5% in January, its highest level since 1992
The UK Consumer Price Index (CPI) has risen 5.5% in the year-on-year reading for January, exceeding the previous 5.4% expected by the market, according to the British Office for National Statistics (ONS). This is the highest level of inflation reached in the historical series beginning in January 1997, and the highest CPI registered since March […]
EUR/GBP bounces as Russia-Ukraine tensions ease, remains below 0.8400
EUR/GBP rebounded from support at 0.8350 area and is trading around 0.8375 amid Euro outperformance as geopolitical tensions ease. The EUR has recently underperformed on fears that a Russia-Ukraine war and associated sanctions could hurt the eurozone dependent on Russian gas imports. Strong wage growth in the UK is helping to keep gains capped below […]
Unemployment rate remains at 4.1% in December, wages rise more than expected
The number of jobless claims in the UK fell by 31,900 people during the month of January after falling by 43,300 in December. This is the eleventh consecutive month of falls in the indicator. The December ILO unemployment rate stood at 4.1% for the second month in a row, as expected, its lowest level since […]
Preliminary GDP for the fourth quarter grows 1% compared to the 1.1% forecast
The Gross Domestic Product (GDP) of the United Kingdom has grown by 1% in the preliminary reading for the fourth quarter, standing one tenth below the previous and expected 1.1%. This is its lowest level since the first quarter of the year. The Year-on-year GDP rises at a rate of 6.5%below the 6.8% of the […]
CBI warns UK risks low growth cycle without major investment
According to Tony Danker, director general of the Confederation of British Industry (CBI), he warned on Thursday that it is likely that “ministers are running the risk of trapping the UK in a low-growth, high-tax future“, according to the Financial Times. Featured Comments “The tax burden for UK companies was already “at the highest sustained […]
United Kingdom: B. Johnson increases health contributions by 1.25% to support healthcare
UK Prime Minister Boris Johnson and Chancellor Risi Sunak have said they will raise payroll taxes by 12 12 billion ($ 16 billion) in April, defying pressure from Conservative MPs, according to Bloomberg. Some Tory lawmakers have called for the 1.25 percentage point increase in national insurance contributions to be scrapped from April, given the […]
GDP exceeds estimates and rises 0.9% in November
UK GDP rises 0.9% MoM in November versus 0.4% expected. The monthly publication of UK GDP has shown that the economy expanded more than expected in November, rising 0.9% versus 0.4% expected. and compared to 0.1% in the prior month prior. On the other hand, the services index for November reached 1.3% month-on-month, compared to […]
Manufacturing production rises 1.1% in November
The UK industrial sector experienced a strong recovery in Novemberthe latest UK manufacturing and industrial production data released by the Office for National Statistics (ONS) showed on Friday. Manufacturing production reached 1.1% month-on-month in November compared to the 0.2% expected and 0.1% seen in October, while total industrial production rose 0.7%, compared to the expected […]
