BoE On High Alert Since SVB Collapse, Says Bailey

UK Nationwide House Price Rise More Than Forecast

UK house prices increased more than expected in February as buyers brought forward their transactions ahead of stamp duty change in April, the mortgage lender Nationwide Building Society said on Friday. House price grew at a pace of 0.4 percent on a monthly basis in February after a 0.1 percent gain in the previous month. Moreover, this was the sixth consecutive monthly increase and was faster t

RTTNews | 1 dia atrás

UK Car Production Declines Sharply: SMMT

UK car production logged a double-digit decline in January reflecting weakness in key markets combined with planned model changeovers, the Society of Motor Manufacturers and Traders, or SMMT, said Thursday. In January, vehicle production slid 17.7 percent from a year ago. Factories rolled out 71,104 cars and 6,908 commercial vehicles.

RTTNews | 2 dias atrás

UK Retail Sales Growth At 8-Month High

UK retail sales expanded at the fastest pace in eight months in January due to the rebound in food store sales volume, the Office for National Statistics said Friday. Retail sales volume increased 1.7 percent in January from December. The monthly growth confounded a revised fall of 0.6 percent in December.

RTTNews | 8 dias atrás

UK Inflation Hits 10-Month High On Airfares, Food Prices

UK consumer price inflation accelerated to a 10-month high in January on higher airfares and food prices, data from the Office for National Statistics showed on Wednesday. The consumer price index logged a 3.0 percent rise in January, following December's 2.5 percent increase. This was the fastest growth since March 2024. Prices were forecast to climb 2.8 percent.

RTTNews | 10 dias atrás

UK Jobless Rate Remains Stable, Wage Growth Accelerates

The UK unemployment rate remained unchanged, but wage growth picked up in the fourth quarter, supporting the Bank of England's cautious approach to further policy cuts. The jobless rate came in at 4.4 percent in the three months to December, the same as in the preceding period, the Office for National Statistics said on Tuesday. Economists had forecast the rate to rise to 4.5 percent.

RTTNews | 11 dias atrás

UK House Price Growth Softens As Stamp Duty Deadline Looms: Rightmove

House prices in the U.K. increased at a slower pace in February as sellers reduced their price expectations amid the looming stamp duty deadline and high competition, property website Rightmove said on Monday. The average asking price of property grew only 0.5 percent in February, slower than the 1.7 percent increase in January, survey results by Rightmove showed.

RTTNews | 11 dias atrás

UK Economy Unexpectedly Returns To Growth

The U.K. economy logged a surprise expansion in the fourth quarter of 2024, but the mild growth is unlikely to ease the pressure on the Chancellor who aims to turbocharge growth. Gross domestic product grew 0.1 percent from the third quarter, when there was nil growth, the Office for National Statistics reported Thursday.

RTTNews | 15 dias atrás

BoE's Mann Says Loosening Labor Market Will Restrain Price & Wage Growth

A further loosening of the UK labor market will restrain the growth in wages and prevent second-round effects from setting in, even if the near-term inflation expectations increase, Bank of England policymaker Catherine Mann said Tuesday. In a speech, Mann said the current and likely continued weak demand conditions will lead to a further loosening of the labor market.

RTTNews | 18 dias atrás

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