Source: Markit Economics The United Kingdom’s service sector expanded for the third straight month in March, indicating a continued rebound after the slowdowns seen due to the COVID-19 Omicron variant. EWU is up 0.03% premarket. The seasonally adjusted S&P Global / CIPS UK Services PMI Business Activity Index jumped to 62.6 in March from 60.5 in the previous month.The … [Read more...] about UK Service Sector Growth Eases to 62.6
UK
UK Manufacturing Slips to 13-Month Low in March
Source: Markit Economics Manufacturing in the United Kingdom fell to its lowest level in 13 months in March, with all sub-components recording a decline during the month. EWU is up 0.39%. The seasonally adjusted UK Manufacturing Purchasing Managers’ Index stood at 55.2 in March, down from the three-month-high of 58.0 in February.New orders posted the slowest growth in the … [Read more...] about UK Manufacturing Slips to 13-Month Low in March
UK Current Account Deficit Narrows to £11.4 Billion in Q4, GDP Improves by 1.3%
Source: Office for National Statistics The UK current account deficit that excludes precious metals was 11.4 billion pounds in the fourth quarter of 2021, down from 26.1 billion in the previous quarter. FTSE 100 is down -0.20%, GBPUSD is up +0.05%. In the primary income account, the total current account balance was a surplus of 4.7 billion pounds or 0.8% of GDP, the … [Read more...] about UK Current Account Deficit Narrows to £11.4 Billion in Q4, GDP Improves by 1.3%
British House Prices Surge 14.3% in February, the Strongest Annual Pace in 17 Years
Source: Nationwide House prices have jumped 14.3% over the past year, with property inflation reaching its highest level since 2004. FTSE100 down -0.065%, GBPUSD down -0.07% The average home prices have risen by £33,000 in the last 12 months to a record of £265,312. House prices rose by 1.1% or £5,000 in March.Robert Gardner, chief economist at Nationwide, stated that … [Read more...] about British House Prices Surge 14.3% in February, the Strongest Annual Pace in 17 Years
Libor Grows Further to Hit 23-Month High of 1.006%
Source: Bloomberg The London Interbank Offered Rate for the greenback grew for the third straight session to breach 1% for the first time in nearly two years. DXY is down 0.82%. The Libor rate rose by roughly one basis point to 1.006%, hitting its highest level in 23 months since April 2020.The rate has already grown by some 50 basis points so far this month, as traders … [Read more...] about Libor Grows Further to Hit 23-Month High of 1.006%
