UK CPI goes up by 2.7% in August
In August, UK consumer prices jumped by 2…
British retailers benefit from bumper Black Friday sales
In November, UK shoppers derived benefits from electrical goods as well as other Black Friday bargains, providing a suddenly big boost to retail sales that contrasted with earlier indications of a subdued start to Christmas spending.
Most of this year British customers have been affected by the highest inflation for six years, while wages weren’t keeping up.
However, in November data there was some sudden cheer for UK customers from the Office for National Statistics. The data disclosed that sales volumes turned to be 1.6% higher than in 2016, confounding all estimates in a Reuters survey of economists.
As for spending in cash terms, it edged up 4.7%.
In general, the market reaction was quite muted. Some market experts told the jump in retail sales might point to Christmas spending brought forward just to take advantage of Black Friday discounts.
Obviously, the figures might ensure some reassurance for the BoE that lifted interest rates for the first time in more than a decade the previous month.
Similar
Daily news: positive data for the GBP and NAFTA uncertainities
China's premier Li Keqiang made a speech at a World economic forum in Tianjin…
Japan exports tack on, as US-bound shipments rally amid trade war worries
In August, Japan's export surge speeded up from July backed by firmer shipments to America, which is a sign that the worsening trade clash between America and China has yet to impact Japanese trade…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
