UK posts largest trade deficit in 15 Months to December 2017

The UK’s deficit on trade in goods and services widened by £1.2 billion to £4.896 billion in December 2017 from an upwardly revised £3.652 billion in the previous month and way above market expectations of £2.4 billion. It was the largest trade deficit since September 2016. Imports of goods and services to the UK rose […]

UK unemployment hit record high as earnings increase 2.5%

UK employment surged to a record high of 32.2 million people in work between September and November 2017, according to figures from the Office for National Statistics (ONS). Unemployment fell to 1.44 million in the same period, barely changed from June to August, but 160,000 fewer than the previous year. Meanwhile, average weekly earnings for […]

U.K business confidence brittles as fears mount over economy, trade

Confidence among Britain’s businesses appears brittle as fears about trade and economic growth have escalated in a trio of surveys. Brexit has been identified as the biggest concern among those in control of company finances and is likely to lead to more subdued spending by businesses, according to a Deloitte survey. A total of 112 […]

UK service sector growth rises amid doubts

Britain’s service sector picked up in December, suggesting the economy is holding up well. The UK services PMI, produced by data firm Markit, has jumped to 54.2 for last month, from 53.8 in November. Any reading over 50 shows growth, and this is the second-highest score since last April. Companies reported that business activity growth […]

Prince Harry, Markle’s wedding offers UK economy a 500m pound boost

The projected wedding between Prince Harry and American actress Meghan Markle could provide a 500 million pound boost to Britain’s economy as tourists flock to the country and Britons celebrate, according to an estimate by a business valuation consultancy, Brand Finance. Brand Finance relying on UK national statistics office figures from the wedding of Harry’s elder brother […]

Business optimism on the rise in UK as hopes of growth re-emerge

Britain’s small and medium-sized businesses are turning cautiously optimistic on the economy’s prospects, according to a study from Lloyds Bank, in a sign the recent slowdown may have no lasting impact. The proportion of firms that are confident in the economic outlook outweighed those that are pessimistic by a margin of 28 percentage points, the […]

British public finances strengthen in November as tax revenues rise

Britain’s budget deficit edged down last month, official data showed on Thursday, boosted by robust income tax revenue and keeping Philip Hammond, finance minister broadly on track to meet his new fiscal targets. Britain’s economy has been slowing this year following June 2016’s vote to leave the European Union, but public finances are typically affected […]