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03/12/2001
UK service sector confidence continues to fall
The latest quarterly survey of the UK service sector by the Confederation of British Industry (CBI) and Deloitte & Touche has found business volumes, confidence, profitability and prices are all falling.
While the slowdown in the UK service sector is getting worse and more interest rate cuts may be needed according to a new report, many experts are arguing that the Bank of England's Monetary Policy Committee (MPC) should consider cutting the UK interest rate further.
However, the Bank of England has already cut rates seven times this year, bringing the UK base rate down to 4 per cent, as it tries to steer the UK's economy away from a recession many analysts have been predicting has been on the cards.
The survey found the volume of business dropping sharply across all service areas. Consumer services had slipped 39 per cent down to stand at minus 59 per cent, compared to minus 20 per cent. While in business and professional services the balance was down 17 per cent, to minus14 per cent, compared to plus 3 per cent in the survey last quarter.
Prices, profits and confidence also fell over the three-month period and the sector is set for a tough three-months ahead. (MB)
While the slowdown in the UK service sector is getting worse and more interest rate cuts may be needed according to a new report, many experts are arguing that the Bank of England's Monetary Policy Committee (MPC) should consider cutting the UK interest rate further.
However, the Bank of England has already cut rates seven times this year, bringing the UK base rate down to 4 per cent, as it tries to steer the UK's economy away from a recession many analysts have been predicting has been on the cards.
The survey found the volume of business dropping sharply across all service areas. Consumer services had slipped 39 per cent down to stand at minus 59 per cent, compared to minus 20 per cent. While in business and professional services the balance was down 17 per cent, to minus14 per cent, compared to plus 3 per cent in the survey last quarter.
Prices, profits and confidence also fell over the three-month period and the sector is set for a tough three-months ahead. (MB)
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01 October 2001
UK house prices soar by 2.8 per cent
UK house prices rose 2.8 per cent in September, the highest monthly increase in eight years, according to a report by the building society Nationwide. The figures revealed in the report reveal that the price of the average UK home was 15 per cent higher last month than in September 2000.
UK house prices soar by 2.8 per cent
UK house prices rose 2.8 per cent in September, the highest monthly increase in eight years, according to a report by the building society Nationwide. The figures revealed in the report reveal that the price of the average UK home was 15 per cent higher last month than in September 2000.
18 June 2002
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
17 April 2002
Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
15 March 2002
London still most expensive city for office space
London remains the world's most expensive city to rent office space, with average annual occupancy costs of around £1,072 per square metre. International property consultants Healey & Baker looked at 45 countries around the world, analysing the total costs of occupying office space in 100 locations.
London still most expensive city for office space
London remains the world's most expensive city to rent office space, with average annual occupancy costs of around £1,072 per square metre. International property consultants Healey & Baker looked at 45 countries around the world, analysing the total costs of occupying office space in 100 locations.
11 October 2001
Motorola cuts a further 7,000 jobs
Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
Motorola cuts a further 7,000 jobs
Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
