Business News Asia
Nationwide Building Society, a major mortgage lender in the UK, has reported that UK house prices fell by 0.6% in January, which was more than expected. This marks a 4-month decline and puts the prices below their August 2022 peak.…
According to market research firm Kantar, UK consumer goods prices rose a record high of 16.7% in the four weeks ending January 22nd. This significant increase in prices is adding to the growing cost of living crisis for consumers. Kantar…
S&P Global reported that the preliminary Purchasing Managers’ Index (PMI) for UK manufacturing and services fell to 47.8 in January, its lowest level in 2 years, from 49.0 in December. The PMI remaining below 50, indicating that the UK business…
According to a report from the Office of National Statistics (ONS), inflation-hit British consumers unexpectedly cut their spending in December, quelling hopes that Christmas spending would boost the country’s retail sector. The ONS reported that British retail sales fell 1%…
GfK, a market research institute, has reported that British consumer confidence has fallen to a 50-year low in January, marking the first drop in three months, due to concerns about the economy and rising costs of living. The Consumer Confidence…
The UK inflation fell for the second straight month in December, raising hopes that the worst cost-of-living crisis of this era may have begun to subside somewhat. The Office for National Statistics (ONS) said the Consumer Price Index (CPI), Britain’s…
The Office for National Statistics (ONS) announced that the UK’s wages, including bonuses, rose 6.4% in September-November year on year. This marks the largest increase since records began in 2001, with the exception of the lockdown period and government support…
According to the Office for National Statistics (ONS), U.K. gross domestic product (GDP) rose 0.1% in November, exceeding economists’ expectations for a 0.2% decline in November from October. According to the data, the U.K. economy contracted by 0.3% in the…
Halifax, the U.K.’s largest mortgage lender, announced today (Jan. 6) that house prices in the U.K. fell 1.5% in December from the previous month. Year-over-year, House prices rose 2.0% in December.
The S&P Global/CIPS UK Services Purchasing Managers’ Index (PMI) rose to 49.9 in December, its highest reading since September (48.8 in November). The PMI index remains below the 50 mark, suggesting that UK services sector activity continued to contract in…
