Economic News
US existing home sales dip in January, but NAR sees cycle low
Existing home sales in the States dipped at the start of 2019, plumbing their lowest level since November 2015, although some economists believed that a cycle low might now be in place.
Food prices could soar 40% in 'no-deal' Brexit, UK, Irish retailers warn
UK and Irish retailers on Thursday warned that food products such as beef or cheddar cheese could be subject to 40% tariffs or more if the UK were to apply World Trade Organization rates on trade after a no-deal Brexit.
UK public finances see record surplus in January
Britain's public accounts enjoyed a record surplus at the start of 2019, which economists said would likely allow the Chancellor to provide another modest fiscal boost to the economy.
Philly Fed index surprises to the downside in February
A key gauge of US factory sector activity surprised sharply to the downside in February, although some economists believed the sudden bout of weakness would be short-lived, attributing it to the partial federal government shutdown at the turn of the year and concerns, since allayed, of a repeat.
Composite euro area output PMI edges past forecasts in February
Economic activity in the euro area picked-up a tad in February, in particular thanks to a more buoyant services sector in Germany, but growth overall was muted, economists said, with manufacturing entering its first downturn in almost six years, according to the results of the most closely-tracked surveys.
Austerity leaves UK economy £100bn smaller - thinktank
The UK government’s austerity policies have left the country’s economy £100bn smaller since 2010, a thinktank said on Thursday.