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06/09/2001
UK interest rate put on hold despite manufacturing recession
The Bank of England has left interest rates unchanged at five per cent despite new data revealing that the recession in the UK manufacturing sector has deepened.
The latest data shows that manufacturing output fell 0.9 per cent in July to stand 3.0 per cent lower than last year, the worst annual performance since January 1992.
Industrial production, which includes mining and energy production, also fell, chalking up its worst annual performance since September 1991.
There was also increasing evidence that this slowdown was now spreading to the service sector.
The decision to keep rates on hold was widely expected by analysts, with the FTSE index not showing any signs of a reaction by lunchtime
The Confederation of British Industry (CBI) was quick to criticise the decision, commenting that the bank had missed an opportunity to stop the slowdown spreading. (MB)
The latest data shows that manufacturing output fell 0.9 per cent in July to stand 3.0 per cent lower than last year, the worst annual performance since January 1992.
Industrial production, which includes mining and energy production, also fell, chalking up its worst annual performance since September 1991.
There was also increasing evidence that this slowdown was now spreading to the service sector.
The decision to keep rates on hold was widely expected by analysts, with the FTSE index not showing any signs of a reaction by lunchtime
The Confederation of British Industry (CBI) was quick to criticise the decision, commenting that the bank had missed an opportunity to stop the slowdown spreading. (MB)
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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.
03 December 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.
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.
06 December 2001
UK industrial output hits ten-year low
The latest figures on industrial output have revealed a ten-year low in the UK’s industrial performance. Manufacturing output between September and October fell another 0.3 per cent in a slump that has seen UK manufacturing fall by 0.8 per cent inside the last three months.
UK industrial output hits ten-year low
The latest figures on industrial output have revealed a ten-year low in the UK’s industrial performance. Manufacturing output between September and October fell another 0.3 per cent in a slump that has seen UK manufacturing fall by 0.8 per cent inside the last three months.
02 October 2001
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
11 December 2001
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
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