Tag UK

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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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UK retail sales in July above expectations

The Office for National Statistics (ONS) reported that UK retail sales rose 0.3% month-on-month in July, which was above expectations. Economists expected UK retail sales to fall 0.2% month-on-month in July as consumers are hit by rising inflation.

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UK budget deficit was higher than expected in July

The Office for National Statistics (ONS) reported that the UK budget deficit was higher than expected. This underscores the challenge for the next British prime minister to provide support for consumers affected by rising energy costs. Public borrowing, excluding government…

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