The European Commission has announced its plans to delay tariffs on certain electric vehicles exported between the European Union (EU) and the U.K. This move is aligned with the interests of carmakers in both regions. The proposed measure, which would have imposed a 10% tariff on electric vehicles with a significant number of parts made outside of the EU or the U.K., was … [Read more...] about European Commission Delays Tariffs on Electric Vehicles
UK
UK Unemployment Rate Slightly Rises, Wage Growth Ahead of Inflation
The jobless rate in the United Kingdom increased slightly during the three months leading up to July. However, wage growth remained steady and is now surpassing inflation, which could potentially alleviate some of the pressure on the Bank of England in its efforts to monitor the cooling labor market. According to data released by the Office for National Statistics on Tuesday, … [Read more...] about UK Unemployment Rate Slightly Rises, Wage Growth Ahead of Inflation
UK Construction Output Hits the Lowest Level Since Jan. in April
Source: S&P Global The Purchasing Managers’ Index, gauging the level of construction in the UK, dropped to 58.2 in April from 59.1 the previous month. The index marked the slowest output growth since January. FTSE 100 is down -0.81%, GBPUSD is down -0.01%. The fastest-growing construction segment was the commercial work, with an index of 60., while the civil … [Read more...] about UK Construction Output Hits the Lowest Level Since Jan. in April
UK House Prices Climb for 10th Straight Month
Source: Halifax House prices in the United Kingdom posted a steep increase in April, marking the 10th straight month of growth. IUKP is down 2.76%, while XHB is flat premarket. House prices in the UK posted a monthly change of 1.1%, following the 1.5% in March and 1.4% in April 2021.Prices recorded an annual change of 10.8%, versus the 11.1% in the previous month and 8.3% … [Read more...] about UK House Prices Climb for 10th Straight Month
UK Services Growth Falls to Lowest for 2022
Source: Markit Economics Services in the United Kingdom continued to grow in April, albeit at the slowest pace seen so far this year. EWU is down 2.22%, while EZU is down 2.41%. The S&P Global/CIPS UK Services PMI Business Activity Index stood at 58.9 in April, down from 62.6 in March.The latest reading is the weakest expansion recorded in the United Kingdom since … [Read more...] about UK Services Growth Falls to Lowest for 2022
