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Britain's GDP

Sterling set for second weekly loss

Sterling set for second weekly loss

Published 12 Jun, 2021 05:04am
LONDON: The pound fell 0.5% on Friday and was on track for its second consecutive weekly loss versus the dollar ...
UK housing market will cool, but some heat will stay: BoE's Cunliffe

UK housing market will cool, but some heat will stay: BoE's Cunliffe

Published 20 May, 2021 07:36pm
  • House prices rose in the 12 months to March by more than 10% in annual terms - the sharpest increase since August 2007 - spurred by demand for bigger homes as more people work from home, as well as the government's support measures, data showed.
  • House prices rose 5.7% across advanced economies during 2020, according to the Federal Reserve Bank of Dallas, the sharpest growth since 2007.
Sterling recovers to hit one-week high vs dollar

Sterling recovers to hit one-week high vs dollar

Published 14 Apr, 2021 08:47pm
  • The pound on Tuesday hit a six-week low against the euro and extended losses against the dollar after the announcement of Andrew Haldane's resignation.
  • It was 0.1% higher to the euro at 86.77 pence, off a six-week low of 87.11 pence after the Haldane announcement.
Britain's wheat imports set season low in February

Britain's wheat imports set season low in February

Published 13 Apr, 2021 07:41pm
  • Wheat imports for the month totalled 94,956 tonnes, down from 106,531 tonnes in January and the lowest monthly total so far for the 2020/21 season, which runs from July to June.
  • A slowdown had been expected following the expiration of a transitional trade agreement between Britain and the European Union at the end of 2020.
Brexit hits Portugal-UK trade in February, global trade gap shrinks

Brexit hits Portugal-UK trade in February, global trade gap shrinks

Published 09 Apr, 2021 06:17pm
  • The value of goods brought in from Britain fell 56%, compared to a drop of just 10.3% in imports from 27 European Union countries.
  • The UK left the European Union's single market at the end of last year, raising barriers to trade. That final split followed more than four years of wrangling over its terms of exit from the EU.
Sterling strengthens, helped by UK vaccine rollout and better retail sales

Sterling strengthens, helped by UK vaccine rollout and better retail sales

Published 26 Mar, 2021 08:23pm
  • Sterling's gains versus the euro this year have been largely due to Britain's faster vaccine rollout, relative to Europe, analysts say, meaning that the EU-UK vaccine row could affect euro-sterling.
  • Brussels and London sought to cool tension on Wednesday, declaring they were working "to create a win-win situation and expand vaccine supply for all our citizens".
UK shopper numbers edge higher as end of restrictions nears

UK shopper numbers edge higher as end of restrictions nears

Published 22 Mar, 2021 06:36pm
  • It said shopper numbers, or footfall, climbed 4% on UK high streets, but fell 4.4% in retail parks and 2.3% in shopping centres. Footfall across Britain remained 40.8% lower than during the same week last year, Springboard said.
  • England entered a third national lockdown on Jan. 4 to stem a surge in COVID-19 cases that threatened to overwhelm the health system.
UK borrowing likely to undershoot estimate

UK borrowing likely to undershoot estimate

Published 19 Mar, 2021 07:41pm
  • With one month of the fiscal year remaining, borrowing has reached 278.8 billion pounds. That far exceeds the previous annual record set at the height of the financial crisis in 2009-10.
  • "But it looks set to undershoot our latest estimate for borrowing in 2020-21 (on a like-for-like basis with the published ONS data) of 327.4 billion pounds, thanks to even greater under-spending by government departments than our forecast assumes."
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