Howard Archer News
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Euro-area inflation accelerated in May, led by the Netherlands, adding to signs the currency bloc’s economy is beginning to emerge from a record-long recession.
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Euro-area industrial output unexpectedly increased in April, led by France, adding to signs the currency bloc’s economy is beginning to emerge from a record-long recession.
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Britain’s trade deficit narrowed more than economists forecast in April as imports declined faster than exports.
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U.K. mortgage approvals were little changed in April, highlighting the challenge policy makers face as they try to stoke lending.
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The Bank of England will keep its target for asset purchases unchanged next week after industry reports that are forecast to point to an improving economic recovery, according to surveys of economists.
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Britain’s economy resumed growth in the first quarter as companies built up stocks and consumer spending increased, offsetting a drop in exports.
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The euro-area economy shrank more than economists forecast in the three months through March, extending a recession to a record sixth quarter and increasing pressure on the currency bloc’s leaders to spur growth.
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Euro-area exports increased for a third month in March as the currency bloc’s four largest economies all shipped more goods, adding to signs the region is beginning to emerge from a record-long recession.
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Britain’s budget deficit narrowed more than economists forecast in March as capital spending fell, providing a boost for Chancellor of the Exchequer George Osborne as he faces new questions over his economic management.
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Europe’s economy would be hurt by a sustained disruption to air travel caused by last week’s Icelandic volcanic eruption, said economists at Goldman Sachs Group Inc. and IHS Global Insight.
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