U.K. Economy Rebounds But Services End Quarter on a Weak Note
Friday, 10 August 2018 15:54 WIB | ECONOMY |Ekonomi inggris

The U.K. economy bounced back from its turgid start to the year in the second quarter but the dominant services sector lost momentum toward the end of the period.

Gross domestic product increased 0.4 percent between April and June, in line with the median forecast in a Bloomberg survey, figures from the Office for National Statistics Friday showed. 

In June alone, output gained just 0.1 percent, its weakest performance since March. While manufacturing and construction posted reasonable gains, services output was entirely unchanged. 

With an annualized expansion of 1.5 percent in the second quarter, growth is back to the rate the Bank of England estimates to be the economy's speed limit. Still, the slowdown in June may give ammunition to those who say Governor Mark Carney and his colleagues acted too early when they raised the benchmark interest rate to the highest since 2009 last week.

A big question mark over the economy, and BOE action, remains Brexit, with a lack of clarity over the U.K.™s future relationship with the European Union putting investment decisions at risk. Investors are betting the BOE won't act again before Britain quits the EU in March.

The statistics office said good weather boosted retail sales and construction, suggesting the reasons behind the second quarter's relative strength may be just as transient as the snow and storms that caused a near standstill at the start of 2018.

Growth in the second quarter was driven by services, with the best quarter for the sector since the end of 2016 offsetting the worst manufacturing performance since 2012. Construction rebounded, recovering the weather-related losses it incurred in the first quarter. 

Consumer spending rose 0.3 percent and business investment increased 0.5 percent. Net trade acted as a drag on the economy as the deficit in goods and services widened. The value of exports fell 3.6 percent from the first quarter as shipments of cars and planes declined sharply, while imports rose 2 percent.

Source : Bloomberg

RELATED NEWS

U.S. Retail Sales Trail Forecasts as Restaurant Receipts Slump
Monday, 15 October 2018 19:45 WIB

Penjualan ritel AS naik kurang dari perkiraan pada bulan September, karena peningkatan berbasis luas dibayangi oleh penurunan pada penjualan restoran yang mungkin mencerminkan dampak badai Florence. Nilai keseluruhan penjualan naik 0,1 persen untuk bulan kedua, dibandingkan dengan perkiraan rata-ra...

U.S. Producer Prices Increase for First Time in Three Months
Wednesday, 10 October 2018 19:50 WIB

Harga produsen AS naik untuk pertama kalinya dalam tiga bulan terakhir di tengah lonjakan acuan ukur terhadap biaya tiket pesawat dan kereta api, sebuah laporan Departemen Tenaga Kerja menunjukkan Rabu di Washington. Indeks harga produsen naik 0,2% m/m (matching est.) Setelah mengalami penurunan 0,...

ISM manufacturing index in September falls slightly on concerns over tariffs, supply issues
Monday, 1 October 2018 21:24 WIB

Institute for Supply Management mengatakan Senin bahwa indeks manufaktur jatuh ke pembacaan 59,8% pada September dari 61,3%. Ekonom yang disurvei oleh MarketWatch memperkirakan pembacaan 60,7%. Setiap bacaan sekitar 50% menunjukkan kondisi yang membaik. Secara terpisah, IHS Markit melaporkan bahwa...

UK manufacturing PMI unexpectedly rebounds to 53.8 in September
Monday, 1 October 2018 15:50 WIB

Aktifitas sektor manufaktur pada perekonomian Inggris secara tak terduga mengalami peningkatan di bulan September, kenaikan yang mengejutkan pasar, data terbaru dari Markit menunjukkan pada hari Senin. Indeks Manajer Pembelian manufaktur (PMI) di Inggris tiba pada 53,8 poin pada bulan September, di...

UK: Q2 final GDP arrives at 1.2% y/y, misses estimates
Friday, 28 September 2018 15:48 WIB

Perkiraan PDB Inggris kedua menunjukkan bahwa angka PDB berada pada 0,4% q/q pada kuartal kedua tahun 2018, naik dari 0,1% pembacaan sebelumnya sementara datang sesuai dengan harapan. Sementara pada basis tahunan, tingkat pertumbuhan ekonomi Inggris tiba pada 1,2% di Q2, memenuhi prakiraan konsensu...

ANOTHER NEWS
Wall Street Opens Lower as Saudi Tensions Add to Concerns
Monday, 15 October 2018 20:52 WIB U.S. stocks dropped at open on Monday as rising tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs following the three indexes™ biggest weekly declines in over seven...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.