UK Labor Market Cools In May

UK Mortgage Approvals At 25-Month High

UK mortgage approvals increased to the highest level in more than two years in September suggesting renewed confidence in the housing market, official data revealed Tuesday. Mortgage approvals for house purchases, an indicator of future borrowing, rose by 700 to 65,600 in September, the Bank of England reported. This was the highest since August 2022.

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UK Consumers Held Back Spending Ahead Of Autumn Budget - CBI Survey

British retailers saw sales volumes decline in October as consumers hesitated to spend due to the uncertainty surrounding the new chancellor Rachel Reeves' budget later this week, results of a survey by the Confederation of British Industry showed on Monday.

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UK Business Confidence Sinks To 4-month Low Ahead Of Budget

Confidence among U.K. employers fell to its lowest in four months in October as they adopted a cautious stance ahead of the first budget presentation by the new chancellor Rachel Reeves later this week, results of a survey showed Monday. The Lloyds Business Barometer fell three points to 44 percent, the lowest score since June, the survey that covered 1,200 companies between October 1 - 15 showed.

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UK Pay Growth Stalled In September, Likely To Slow Next Year: Survey

Growth in the employee earnings in the U.K. stalled in the September quarter and the rate of increase is expected to fall next year as employers weigh the cost, the performance of their companies and possibly lower inflationary pressures. Median pay award forecast for the next 12 months was 3 percent.

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UK Budget Deficit Widens More Than Estimated

The UK budget deficit widened more than officially estimated in September and also hit the highest level for the month since 2021, the Office for National Statistics reported Tuesday. Public sector net borrowing increased to GBP 16.6 billion in September from GBP 14.5 billion in the previous year. This was the third highest September borrowing since monthly records began in January 1993.

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UK House Price Growth Weakens: Rightmove

UK house prices increased at a below seasonal average pace in October due to the rise in buyer choice and increasing seller competition, property website Rightmove said Monday. House prices grew 0.3 percent month-on-month in October, which was much lower than the average seasonal 1.3 percent increase at this time of year. Prices had increased 0.8 percent in September.

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UK Retail Sales Rise Unexpectedly

UK retail sales logged an unexpected growth in September on higher sales of technology products, the Office for National Statistics said Friday. Retail sales grew 0.3 percent on month in September, confounding expectations for a 0.3 percent fall. This marked the third consecutive increase. Sales had increased 1.0 percent in August and 0.8 percent in July.

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UK Inflation Falls Below 2% Target

UK inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting. Consumer price inflation weakened more-than-expected to 1.7 percent in September from 2.2 percent in August, the Office for National Statistics reported Wednesday.

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