Last week was full of surprises! Stock indices have shown significant growth…
British economy soars less than anticipated for the last three months of 2017
The UK economy ascended more slowly than previously anticipated for the three months of 2017, as official figures disclosed, raising questions as for the British economy's strength as the BoE is ready to have interest rates lifted.
Thursday's figures state that the UK economy lost steam in late 2017 notwithstanding the strength of the world’s economy.
Many British households are feeling the pinch from a huge leap in inflation after in 2016 they supported the idea of breaking up with the European Union.
Between October and December gross domestic product inched up by 0.4%, as the Office for National Statistics informed, which is below experts’ estimates of 0.5%.
Downwardly updated surge of 1.4% appeared to be the weakest outcome for more than five years in year on year terms.
A number of small updates to energy generation, mining as well as service turned to be enough to cause a moderate downward update to quarterly surge in general, as ONS statistician Darren Morgan informed
The UK economy managed to inch up by 1.7% the previous year. What’s more, in general it stepped down 0.1%, which is more than previously anticipated, demonstrating the weakest outcome since 2012.
Thursday's data disclosed that household spending rallied at an annual rate of 1.4% in the fourth quarter of the previous year, tacking on a bit from 1.3% in the third quarter.
As for business investment, it was intact on the quarter and inched up by 2.1% on the year.
Aside from that net exports ate up 0.5% from fourth-quarter surge.
Earlier this month the Bank of England informed that in February it actually expected the British economy to edge up by 1.8% in 2018, which is faster than its previous estimate of 1.6%, mainly due to the strength of the world’s economy.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
What will happen? ECB will report its Monetary Policy statement at 14:45 MT (GMT+3) on Thursday, October 28…
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
What will happen? Australian Bureau of Statistics will announce Core PCE Price Index at 03:30 MT (GMT+3) on Wednesday, October 27…