Friday, 21 September 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
UK Economy Posts Fastest Growth in Almost a Year on Services
Monday, 10 September 2018 16:04 WIB | ECONOMY |

The UK economy grew at the fastest pace in almost a year between May and July, as construction output rebounded and a heatwave boosted retail sales and the powerhouse services sector.

Gross domestic product increased 0.6 percent from the three months through April, the most since August last year, the Office for National Statistics said Monday. That™s more than economists forecast and up from 0.4 percent in the second quarter.

The figures appear to vindicate the Bank of England™s decision to raise interest rates last month. Annualized growth in the latest period was 2.4 percent, well above the pace policy makers believe will fuel inflation. The pound edged higher following the figures.

BOE officials, expected to keep policy unchanged on Thursday, have indicated that further modest hikes will be needed to bring inflation back target.

The solid performance in the latest period came as a prolonged heatwave helped the economy rebound from a snow-blighted start to the year.

Construction output jumped 3.3 percent, while services, the largest part of the economy, rose 0.6 percent with retail sales benefiting from the warm weather and soccer World Cup, the ONS said. Manufacturing and industrial production, by contrast, contracted.

A similar pattern was on display for July alone, when economic growth accelerated to 0.3 percent -- more than forecast -- from 0.1 percent in June.

The big question mark over the economy remains Brexit, with economists warning that failure to reach a deal with the European Union could deliver a shock to investment and consumer spending.

Separate figures showed the trade deficit in goods narrowed to a five-month low of 9.97 billion pounds in July, aided by a 2.8 percent rise in exports. The shortfall including services fell to just 111 million pounds.

Source : Bloomberg

RELATED NEWS
U.K. August Retail Sales Unexpectedly Gain in Summer Heatwave...
Thursday, 20 September 2018 15:49 WIB

Penjualan ritel AS secara tidak terduga meningkat bulan lalu karena musim panas terpanas dalam catatan mendorong pembeli untuk keluar. Penjualan naik 0,3 persen dari Juli, dibandingkan dengan estimas...

U.K. Inflation Unexpectedly Accelerates on Theater Prices, Fares...
Wednesday, 19 September 2018 15:53 WIB

Inflasi U.K tanpa diduga meningkat pada bulan Agustus, didorong oleh biaya pertunjukan teater, permainan komputer, tarif transportasi, dan pakaian. Pertumbuhan harga konsumen tahunan naik menjadi 2,7...

Retail Sales Grow By Smallest Amount In Six Months...
Friday, 14 September 2018 19:51 WIB

Pengecer AS membukukan penjualan terlemahnya pada bulan Agustus dalam enam bulan terakhir dan hanya peningkatan pembelian di SPBU yang mencegah penurunan langsung, tetapi mendapatkan dorongan kecil da...

U.S. Core Inflation Unexpectedly Cools on Apparel, Medical Costs...
Thursday, 13 September 2018 19:48 WIB

Pengukur inflasi AS yang mendasari secara tiba-tiba melambat pada bulan Agustus karena harga pakaian mengalami penurunan terbesarnya dalam sekitar tujuh dekade terakhir dan biaya perawatan medis menur...

Producer Prices in U.S. Decline for First Time in 18 Months...
Wednesday, 12 September 2018 19:41 WIB

Harga produsen AS secara tiba-tiba menurun pada bulan Agustus, penurunan pertama dalam 18 bulan terakhir, pada penurunan biaya untuk sektor layanan dan makanan, menurut laporan dari Departemen Tenaga ...

POPULAR NEWS
Gold Extends Run Above $1,200; Palladium Gains

Gold futures gained Wednesday, leaving the...

Gold futures mark highest settlement this month to date

Gold saw prices edge higher, building on a rise...

China To Retaliate US with Tariffs on $60 billion of American Products

China says it has no choice but to retaliate to...

LATEST NEWS
Hong Kong stocks open sharply higher

Hong Kong stocks got off to a booming start on Friday, tracking a record performance on Wall Street and extending this week's rally on hopes China and the US will eventually resolve their trade dispute. The Hang Seng Index rose 0.85 percent, or...

Dollar struggles near two-month lows, yen sags on receding risk aversion

The dollar struggled near two-month lows, while the yen also sagged on Friday on reduced safe haven demand amid a switch in investors™ view that the Sino-U.S. trade conflict would be less damaging to global growth than initially feared. The...

Oil Set for Weekly Gain as Saudis Signal Ease With Higher Prices

Brent crude is poised for a second weekly gain even as U.S. President Donald Trump renewed pressure on OPEC to boost output after Saudi Arabia signaled its comfort with higher prices. Brent for November settlement traded at $78.73 a barrel on...