U.K. Chancellor of the Exchequer George Osborne achieved his deficit-reduction forecast in the latest fiscal year after stronger-than-expected growth boosted tax receipts.
The U.K. may be giving birth to a stronger economy.
Britain’s unemployment rate held steady in the three months through January as Bank of England policy makers said the pound’s advance is keeping price pressures in check.
Chancellor of the Exchequer George Osborne made savers the main beneficiaries of his annual budget yesterday as he announced the biggest shakeup of the British pensions industry for almost a century.
U.K. manufacturing expanded at a slower pace in January as domestic demand and rising export orders underpinned growth for a 10th month.
U.K. inflation unexpectedly cooled in January, slowing to below the Bank of England’s 2 percent target for the first time since November 2009.
U.K. retail sales fell more than economists forecast in January with the biggest drop in almost two years, led by lower demand at food and clothing stores.
U.K. unemployment fell more than economists forecast to the lowest rate in almost five years, putting it within touching distance of the 7 percent threshold at which Bank of England officials say they will review borrowing costs.
U.K. factories increased production by less than forecast in December, suggesting manufacturing is set for steady rather than runaway growth this year.
Investors are betting Bank of England Governor Mark Carney will lead the charge out of record-low interest rates as central banks pivot from fighting stagnation to managing expansions.
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