UK New Car Sales Bounce Back On Electric Vehicle Demand

UK House Price Growth Slows More Than Forecast

UK house prices growth slowed more than expected in January largely reflecting high mortgage rates, data published by the Nationwide Building Society showed on Friday. House prices gained only 0.1 percent in January. This follows a 0.7 percent increase in December and also came in weaker than economists' forecast of 0.3 percent.

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UK Mortgage Approvals Rise Unexpectedly

Mortgage approvals in the UK increased unexpectedly in December as home buyers rushed to avoid higher stamp duty from April, official data revealed Thursday. The number of mortgage approvals for house purchases increased to 66,500 in December from 66,000 in November, the Bank of England said. Approvals were expected to fall to 65,000.

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UK Budget Deficit Surges On Interest Payments

The UK budget deficit more than doubled in December largely due to interest payments, highlighting the challenges faced by Chancellor Rachel Reeves amid high borrowing costs and weaker economic growth. Public sector net borrowing increased GBP 10.1 billion from the last year to GBP 17.8 billion in December, the Office for National Statistics said Wednesday.

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UK Jobless Rate Rises, Wage Growth Remains High

The UK unemployment rate rose slightly in the third quarter and wage growth remained high but falling vacancies suggests a decrease in pay pressures, official data showed on Tuesday. The unemployment rate rose to 4.4 percent in the September to November period, as expected, from 4.3 percent in the three months to October, the Office for National Statistics revealed.

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UK House Prices Rise Most Since 2020: Rightmove

UK house prices increased the most since 2020 and new sellers coming to the market hit a record in January, data from the property website Rightmove showed on Monday. Average house prices increased 1.7 percent in January from a month ago, marking the largest jump in prices at the start of the year since 2020. This follows a 1.7 percent fall in December.

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UK Retail Sales Drop Unexpectedly On Weak Food Store Sales

UK retail sales declined unexpectedly in December despite the festive season as food sales logged its worst performance since 2013, data from the Office for National Statistics showed Friday. Retail sales volume decreased 0.3 percent on a monthly basis in December, in contrast to the revised 0.1 percent gain in November. The decline confounded expectations for an increase of 0.4 percent.

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UK Modest GDP Growth Disappoints

The UK economy grew only marginally in November underpinned by the services sector, after two consecutive contractions, official data showed, which has strengthened the scope for more monetary policy easing from the Bank of England as inflation also softened unexpectedly at the end of 2024. Gross domestic product edged up 0.1 percent on a monthly basis in November.

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Slowing Inflation Strengthens Calls For Bank Of England Rate Cuts

The unexpected softening of UK consumer price inflation at the end of 2024 added expectations for more interest rate reductions by the Bank of England this year. The consumer price index registered an annual increase of 2.5 percent in December, weaker than the 2.6 percent gain in November, the Office for National Statistics said on Wednesday. The rate was expected to remain unchanged at 2.6 perc

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