Source: Bank of England Net mortgage lending slipped below £5.0 billion in February but remained above the average recorded in the 12 months before the COVID-19 pandemic. EWU is up 0.86% premarket. Net borrowing of mortgage debt stood at £4.7 billion in February, down from £5.9 billion recorded in the previous month.The latest reading compares with the £4.3-billion … [Read more...] about UK Mortgage Debt Net Borrowing Slips to £4.7 Billion
UK
UK Retail Sales Plunge 0.3% on Cost of Living Crisis
Source: Office for National Statistics Britain’s retail sales fell unexpectedly in February despite the easing of COVID-19 restrictions as the cost of the living crisis started to hurt households. FTSE 100 up +0.36%, GBPUSD up +0.02% Online shopping fell back towards pre-pandemic levels as winter storms kept people away from the high street, and spending at food and drink … [Read more...] about UK Retail Sales Plunge 0.3% on Cost of Living Crisis
UK Private Sector Production Drops in March
Source: Markit Economics The United Kingdom’s business output slipped in March, as prices charged grew by a record high while optimism fell to the lowest level in 17 months. EWU is up 0.48%. The Flash UK PMI Composite Output Index stood at 59.7, lower than February’s eight-month high of 59.9.The services indicator climbed to a nine-month high of 61.0 from 60.5 the … [Read more...] about UK Private Sector Production Drops in March
UK Inflation Soars to 29-Year High, Producer Inflation to 13-Year High in February
Source: Office for National Statistics Consumer prices in the United Kingdom grew by a 29-year high, and producer prices by a 13-year high in February. EWU is down 0.47% premarket. Consumer prices rose by 6.2%, faster than the 5.5% in January and the 0.4% recorded in the same month last year.The latest reading is the fastest annual inflation since March 1992 when it stood … [Read more...] about UK Inflation Soars to 29-Year High, Producer Inflation to 13-Year High in February
UK Net Borrowing Stands at Historic High £13.1 Billion in February
Source: Office for National Statistics Public sector net borrowing in the United Kingdom remained at a historic high in February, marking the second-highest print for the month since data collection started in 1993. EWU is up 1.11% premarket. Net borrowing excluding public sector banks stood at £13.1 billion in February, £2.4 billion lower than the same month in 2021 but … [Read more...] about UK Net Borrowing Stands at Historic High £13.1 Billion in February
