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14/04/2014
Economic Forecast Sees Wages Rising Above Inflation
An economic forecasting group has predicted that wages will rise by more than inflation for the first time in almost six years.
EY ITEM Club has said that the "long period of low inflation" could see average earnings rising faster that the cost of living within weeks.
"While risks remain, there’s no question that the UK’s economic recovery is on an increasingly firm footing," the groups spring forecast says.
Adding: "With GDP projected to grow 2.9% this year and 2.3% in 2015, and interest rates unlikely to rise until late 2015, the outlook is for a period of ‘steady as she goes’, characterised by sustained if unspectacular growth and underpinned by relatively low inflation."
The full spring forecast can be read here.
(MH/IT)
EY ITEM Club has said that the "long period of low inflation" could see average earnings rising faster that the cost of living within weeks.
"While risks remain, there’s no question that the UK’s economic recovery is on an increasingly firm footing," the groups spring forecast says.
Adding: "With GDP projected to grow 2.9% this year and 2.3% in 2015, and interest rates unlikely to rise until late 2015, the outlook is for a period of ‘steady as she goes’, characterised by sustained if unspectacular growth and underpinned by relatively low inflation."
The full spring forecast can be read here.
(MH/IT)
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11 August 2010
Bank Of England Forecast Hits Sterling
The Pound has weakened today after the Bank of England cut its forecasts for UK economic growth and long-term inflation in its quarterly Inflation Report. Sterling fell below $1.57 against the dollar for the first time in August, from around $1.5750 immediately before the report was released.
Bank Of England Forecast Hits Sterling
The Pound has weakened today after the Bank of England cut its forecasts for UK economic growth and long-term inflation in its quarterly Inflation Report. Sterling fell below $1.57 against the dollar for the first time in August, from around $1.5750 immediately before the report was released.
06 June 2011
'No Changes To Economic Policy', Says IMF
Confirming that no changes need to be implemented to UK economic policy, the International Monetary Fund (IMF) have explained that weak economic growth and rising inflation had been "unexpected", but described it as "largely temporary".
'No Changes To Economic Policy', Says IMF
Confirming that no changes need to be implemented to UK economic policy, the International Monetary Fund (IMF) have explained that weak economic growth and rising inflation had been "unexpected", but described it as "largely temporary".
25 November 2005
MoD faces overspends on projects
The Ministry of Defence is still facing overspends and delays on projects, a new report has revealed. A report on the top 20 defence equipments projects, by the National Audit Office, found that the forecast cost had actually decreased by £700 million, but that each project was delayed by an average of two and a half months.
MoD faces overspends on projects
The Ministry of Defence is still facing overspends and delays on projects, a new report has revealed. A report on the top 20 defence equipments projects, by the National Audit Office, found that the forecast cost had actually decreased by £700 million, but that each project was delayed by an average of two and a half months.
29 November 2010
UK To Lose Less Public Sector Jobs
The independent Office for Budget Responsibility (OBR) has announced that fewer public sector jobs will be lost than first expected. Over the next four years, the OBR now expects around 330,000 public sector workers to lose their jobs, a huge jump from the June report which originally forecast 490,000 job losses.
UK To Lose Less Public Sector Jobs
The independent Office for Budget Responsibility (OBR) has announced that fewer public sector jobs will be lost than first expected. Over the next four years, the OBR now expects around 330,000 public sector workers to lose their jobs, a huge jump from the June report which originally forecast 490,000 job losses.
17 January 2012
Inflation Down In December
The Chancellor has breathed a sigh of relief as it emerges the two main measures of the UK's inflation rate both fell in December last year. The Consumer Price Index now stands at 4.2% for December last year, down from 4.8% in November. Meanwhile, the Retail Price Index stands at 4.8% for the same period, down from 5.2% in November.
Inflation Down In December
The Chancellor has breathed a sigh of relief as it emerges the two main measures of the UK's inflation rate both fell in December last year. The Consumer Price Index now stands at 4.2% for December last year, down from 4.8% in November. Meanwhile, the Retail Price Index stands at 4.8% for the same period, down from 5.2% in November.
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Northern Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
