The U.K. economy expanded less than previously estimated in the fourth quarter as consumers and businesses absorbed faster price increases. Gross domestic product rose 0.4 percent, compared with an initial estimate of 0.5 percent, the Office for National Statistics said on Thursday. In 2017, GDP growth was revised down to 1.7 percent from 1.8 percent, the weakest since 2012. Brexit continues to dominate the outlook for the economy, creating uncertainty for companies and consumers that™s holding back demand. The drop in the pound following the referendum is also driving prices...

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RECENT NEWS

Pay for workers in Britain picked up in the fourth quarter and productivity gained as fewer non-nationals were in the workforce.  Average weekly earnings excluding bonuses rose 2.5 percent from a year earlier, the most since December 2016, the Office for National Statistics said on Wednesday. The overall employment rate rose to 75.2, close to a record.  The figures may be welcomed by...

Construction on new homes in the U.S., known as housing starts, jumped almost 10% in January to an annual rate of 1.33 million. Thats the second highest level since the Great Recession and it easily exceeded the 1.24 million forecast of economists polled by MarketWAtch. Permits to build new homes also hit a 10 1/2-year high, rising 7.4% to an annual rate of 1.4 million. Source : Marketwatch

U.K. retail sales barely grew in January, more evidence consumers are reluctant to splash out amid a squeeze from rising prices.  Sales increased 0.1 percent from December, far below the 0.5 percent gain forecast by economists in a Bloomberg survey. From a year earlier, sales rose 1.6 percent, the weakest for a January in four years, the Office for National Statistics said on Friday. One...

Two gauges of manufacturing sentiment showed continued solid growth in February, according to data released Thursday, as both indicates rising price pressures. The Philadelphia Fed manufacturing index rose to a reading of 25.8 in February from 22.2 in January. Economists had expected a slight retreat to 21. The Empire State Index, meanwhile slowed to a reading of 13.1 in February from 17.7 in...

Initial U.S. jobless claims increased by 7,000 to 230,000 in the seven days ended Feb 10. That matched the MarketWatch forecast of economists. The more stable monthly average of claims rose by 3,500 to 228,500, the government said Thursday. Last week they touched a 45-year low. The number of people already collecting unemployment benefits climbed by 15,000 to 1.94 million. By comparison, 2.4...

U.S. wholesale prices rose in January on costs of energy and hospital services, underscoring signs of stronger inflation in the economy that have sent bond yields soaring this month, a Labor Department report showed Thursday. Producer-price index rose 0.4% m/m (matching est.) after no change the prior month. PPI rose 2.7% from a year earlier (est. 2.4%) after 2.6% gain in...

Australian employment edged higher in the first month of the year, led by part-time jobs, indicating the central bank is likely to keep interest rates on hold. Key Details Jobs rose 16,000 from December; economists forecast 15,000 gain  Unemployment rate fell to 5.5% from revised 5.6%; estimate 5.5% Full-time jobs dropped 49,800; part-time employment rose 65,900 Participation...

U.S. consumer prices rose by more than projected in January as apparel costs jumped the most in nearly three decades, adding to signs of an inflation pickup that have roiled financial markets this month. The consumer price index rose 0.5 percent from the previous month, above the median estimate of economists for a 0.3 percent increase, a Labor Department report showed...

ASIA
China Factory Gauge Weakened Amid Pollution, Leverage Campaigns
Wednesday, 31 January 2018 08:24 WIB China's official factory gauge missed estimates as officials push ahead with policies to rein in debt and reduce pollution. The manufacturing...
UNITED STATES
CPI rises 0.1% in December mostly on higher housing costs
Friday, 12 January 2018 20:57 WIB The consumer price index rose 0.1% in December, with four-fifths of the increase tied to the highest cost of housing. The increase matched the...
EUROPE
U.K. Factories in Best Growth Run Since 1997 Amid Global Upswing
Wednesday, 10 January 2018 16:49 WIB U.K. manufacturers posted a seventh consecutive month of expansion in November as sectors from food producers to makers of games and sports...
GLOBAL ECONOMY
Oil prices could sink to $20 a barrel, warns Goldman
Friday, 11 September 2015 18:14 WIB The global supply glut in the oil market is even bigger than expected and could push prices to as low as $20 a barrel, Goldman Sachs warned in a...

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