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Economic News News

Economic news

Commodities: Shock US oil inventories send crude spiralling lower

Commodities: Shock US oil inventories send crude spiralling lower

Wed, 24 August 2016

(ShareCast News) - Crude-oil futures were firmly under the hammer late on Wednesday as successive US inventory data shocked the market, casting a depressing pall over UK and US equities markets. At ab... [more]

US existing home sales drop more than expected in July

US existing home sales drop more than expected in July

Wed, 24 August 2016

(ShareCast News) - Sales of existing US homes fell more than expected in July, according to data from the National Association of Realtors. Sales were down 3.2% to a seasonally-adjusted annual rate of... [more]

Rent increases by 2.4% in the past year, says ONS

Rent increases by 2.4% in the past year, says ONS

Wed, 24 August 2016

(ShareCast News) - Private rents across the UK increased by 2.4% in the past year and outpaced the growth in real wages, according to data from the Office for National Statistics (ONS). Rents grew b... [more]

Businesses retain staff despite drop in confidence post Brexit

Businesses retain staff despite drop in confidence post Brexit

Wed, 24 August 2016

(ShareCast News) - Businesses seem to have shrugged off Brexit uncertainty with 64% of firms retaining staff, according to a survey on Wednesday. The Recruitment and Employment Confederation (REC) Job... [more]

London mortgage lending falls as rest of UK market grows, CML data shows

London mortgage lending falls as rest of UK market grows, CML data shows

Wed, 24 August 2016

(ShareCast News) - Mortgage lending fell in London in the second quarter of the year amid a growing market in the rest of the UK regions, according to data from lenders. London mortgage borrowing of £... [more]

UK house purchase approvals fall to 18-month low, BBA says

Wed, 24 August 2016

(ShareCast News) - Mortgage approvals for house purchases in the UK fell to an 18-month low, according to the British Bankers Association (BBA), though maintained the level of borrowing remained buoya... [more]

Markit's flash US manufacturing PMI drops more than expected

Tue, 23 August 2016

(ShareCast News) - Activity in the US manufacturing sector deteriorated more than expected in August, according to data released on Tuesday. Markit's flash US manufacturing purchasing managers' index ... [more]

UK manufacturers' export orders hit two-year high in August, CBI says

Tue, 23 August 2016

(ShareCast News) - Sterling's fall in value drove UK manufacturers' export order books to multi-year highs, the results of a widely-followed survey revealed, even as they prepared to raise prices in a... [more]

Rating outlook for UK life insurers is stable, Fitch says

Tue, 23 August 2016

(ShareCast News) - The outlook for UK life insurers' long-term credit ratings was stable despite the impact of lower interest rates, a reflection of their strong capital positions, Fitch Ratings said.... [more]

Millions of low-income households in debt, say TUC, UNISON

Tue, 23 August 2016

(ShareCast News) - Unsecured debt has increased for UK households, in part due to wage stagnation, according to two trade unions. Over a million families with a household income below £30,000 are in e... [more]

Oil price recovery 'fragile', says Goldman Sachs

Tue, 23 August 2016

(ShareCast News) - The oil price recovery remains fragile, Goldman Sachs said in a note, as three remaining large sources of oil supply disruptions - Nigeria, Iraq and Libya - have all shown signs of ... [more]

Eurozone flash composite PMI unexpectedly nudges up in August

Tue, 23 August 2016

(ShareCast News) - Markit's flash eurozone composite purchasing managers' index unexpectedly nudged up to a seven-month high in August. The composite PMI printed at 53.3 compared to 53.2 the month bef... [more]

Gender pay gap has not changed in 20 years for higher educated women

Tue, 23 August 2016

(ShareCast News) - The hourly pay gap between higher-educated women and men has not closed in the last 20 years and it widens after women have children. Women earn on average 18% less than men, accord... [more]

Discounters continue to increase market share, Kantar says

Tue, 23 August 2016

(ShareCast News) - Improved weather spurred shoppers to open up their wallets, leading to the largest acceleration in consumer spend on groceries since early 2016, according to the results of the most... [more]

Government reportedly readying a multi-billion pound property fund

Mon, 22 August 2016

(ShareCast News) - The government is reportedly preparing a multi-billion pound fund to support property developers in a bid to stimulate the UK's economy after the Brexit result. The fund will be all... [more]

Respected fund manager Neil Woodford scraps staff bonuses

Mon, 22 August 2016

(ShareCast News) - Respected UK fund manager Neil Woodford has surprised the City by deciding to scrap bonuses for employees at his company. The star stock-picker and founder of Woodford Investment Ma... [more]

£9bn spent using contactless cards in first six months of 2016

Mon, 22 August 2016

(ShareCast News) - In the first half of the year spending from contactless cards soared to £9bn as the new technology reached new levels of popularity among restaurants, retailers and public transport... [more]

UK infrastructure spending dives post-Brexit vote

Mon, 22 August 2016

(ShareCast News) - Infrastructure spending in the UK fell sharply since the country voted to leave the European Union in June, putting pressure on the government to go ahead with large-scale construct... [more]

House prices to fall next year on Brexit uncertainty, Countrywide predicts

Mon, 22 August 2016

(ShareCast News) - UK house prices will fall by 1% next year as Brexit uncertainty weighs on the market, according to predictions by Countrywide. All regions across Britain will be affected, except Sc... [more]

FX round-up: Sterling dives on renewed Brexit jitters

Fri, 19 August 2016

(ShareCast News) - Sterling suffered a torrid time on most major crosses this afternoon as renewed Brexit jitters returned to the market and investors moved quickly to ditch the once-proud British cur... [more]

London close: Stocks taper as sterling, commodity prices lose traction

Fri, 19 August 2016

(ShareCast News) - UK stocks whimpered to a lower close on Friday as sterling lost traction on renewed Brexit fears and commodity prices headed south. The spectre of the Lisbon Treaty's Article 50 ros... [more]

City gives up hope of full access to single market

Fri, 19 August 2016

(ShareCast News) - Westminster is leaning towards a beefed-up trade deal with the European Union along the lines of that already enjoyed by Switzerland, according to the Financial Times. Key in that r... [more]

Former Labour staff urge Corbyn to respect party workers

Fri, 19 August 2016

(ShareCast News) - Former Labour staff have decried the way current party staff have been publicly attacked and urged Jeremy Corbyn to respect the party's workers, in a letter on Thursday. In a letter... [more]

Brexit leaves dent in UK public finances for July

Fri, 19 August 2016

(ShareCast News) - The government ran a smaller budget surplus in July than might otherwise have been the case due to the impact of the referendum vote, in turn possibly leaving less room for the Chan... [more]

German producer prices tick higher in July

Fri, 19 August 2016

(ShareCast News) - German producer prices ticked higher in July, according to data from Destatis The index of producer prices for industrial products was up 0.2% following a 0.4% increase in June and ... [more]