Tag UK

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UK store prices reach new highs

According to the British Retail Confederation (BRC), prices in U.K. stores and supermarkets soared again in the 12 months to September, reaching an all-time high. According to BRC, prices in stores and supermarkets rose by 5.7%, following a 5.1% increase…

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UK consumer confidence reaches record low

A survey by market research institute GfK showed that the UK consumer confidence index fell by five points to -49 in September, the lowest level since data collection began in 1974. The confidence index was weighed down by inflation and…

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UK PMI figures for September point to a contraction

S&P Global/CIPS reported that the UK economy slumped further in September as it struggles with rising costs and faltering demand. The Purchasing Managers’ Index (PMI) fell from 49.6 in August to 48.4 in September, the lowest level since January last…

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UK retail sales fell more sharply than expected in August

The Office for National Statistics (ONS) announced that UK retail sales fell 1.6% in August from the previous month. This is worse than expected and the sharpest decline since December 2021. Economists expect UK retail sales to fall 0.5% month-on-month…

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UK house prices rise at the fastest rate in 19 years

According to the Office for National Statistics (ONS), house prices in the United Kingdom rose by 15.5% year on year in July. This was the sharpest increase since May 2003 and reflects how house prices were affected by the removal…

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Inflation in the UK slows slightly

The consumer price index (CPI) in the United Kingdom weakened slightly in August, but is still at a high level. The CPI slowed slightly to 9.9% in August from 10.1% in July. The CPI rose 0.5% from July to August,…

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U.K. GDP grows by 0.2% in July

According to the Office for National Statistics (ONS), the gross domestic product (GDP) of the United Kingdom increased by 0.2% in July compared to the previous month. ONS said of the decline in generating capacity that such signs may indicate…

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UK Composite PMI drops in August

S&P Global reported Wednesday that the U.K. composite purchasing managers’ index (PMI) fell to 49.6 in August 2022, below the preliminary reading of 50.9, a clear sign of recession. The PMI index below 50 indicates that the manufacturing and service…

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