FOREX TradingCharts.com

Financial News: UK GDP Growth To Be Sluggish: CBI

UK GDP Growth To Be Sluggish: CBI

12/04/2017 - 07:13:00 (RTTNews)

(RTTNews) - UK economic growth is set to remain steady but sluggish as squeezed real wages dampen household spending and Brexit uncertainty weigh on business investment, the Confederation of British Industry said in a report on Monday.

Elsewhere, the results of the Purchasing Managers' survey showed that construction output expanded the most in five months in November, driven by housing activity.

According to the CBI's Economic Forecast, the British economy will grow 1.5 percent each this year and next. For 2019, the CBI projected 1.3 percent expansion.

The CBI forecast quarterly GDP growth of a subdued 0.3 percent up to the end of 2019. The assessment remained largely similar to that published in June.

CBI Chief Economist Rain Newton-Smith cautioned that the outlook remains subject to a high degree of downside risk - particularly in 2019, where a more disorderly outcome from Brexit negotiations could disrupt the economy and financial markets.

The business lobby expects the Bank of England to lift its key interest rate by 25 basis points each in the third quarter of 2018 and then in second and third quarters of 2019. Even after three hikes, the rate will remain relatively low at 1.25 percent, the CBI noted.

Inflation is forecast to peak at 3 percent in October 2017, before easing gradually. However, with only a lukewarm pick-up in wage growth expected, living standards are set to stay under pressure.

The forecast is based on the assumption that the agreement with the EU on a time-limited transition period will be reached sometime in the first quarter of 2018, and implemented upon the expiry of Article 50 in March 2019.

The IHS/Chartered Institute of Procurement & Supply Purchasing Managers' Index rose to 53.1 in November from 50.8 in October. The score remained above the 50.0 no-change value for the second straight month.

The latest reading was the highest for five months. However, the improvement was largely confined to residential work.

The survey showed that resilient demand and a supportive policy backdrop had driven the strong and accelerated upturn in residential work.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


COLOMBIA: Government Tries To Reopen Markets For Meat (01 hr(s), 22 min(s), 32 sec(s) ago)
(RTTNews) - The Colombian Minister of Agriculture and Rural Development, Guillermo Zuluaga, launch ...Full Story»

Australia Unemployment Data Due On Thursday (01 hr(s), 58 min(s), 32 sec(s) ago)
(RTTNews) - Australia will on Thursday release unemployment data for November, highlighting a busy ...Full Story»

COLOMBIA: Oil Companies Should Invest At Least US$ 4.5 Billion In 2018 (02 hr(s), 36 min(s), 32 sec(s) ago)
(RTTNews) - The Colombian Petroleum Association (ACP) estimates that local companies in the sector ...Full Story»

ARGENTINA: Country Sets 8% Exporting Tariff For Biodiesel (02 hr(s), 59 min(s), 32 sec(s) ago)
(RTTNews) - The Argentinean government set an 8% exporting tariff to biodiesel as of January 1, 20 ...Full Story»

COLOMBIA: Government Freezes Prices Of More Than 600 Food Items (04 hr(s), 11 min(s), 32 sec(s) ago)
(RTTNews) - The Colombian government ordered a price freeze of more than 600 food items at nine su ...Full Story»

ARGENTINA: House Of Representatives May Vote On Pension Reform Next Week (04 hr(s), 21 min(s), 32 sec(s) ago)
(RTTNews) - The Argentinean government managed to obtain favorable reports from two House of Repre ...Full Story»

BRAZIL: Retail Sales Fall Unexpectedly In October From A Month Before (04 hr(s), 37 min(s), 32 sec(s) ago)
(RTTNews) - Retail sales in Brazil fell by 0.9% in October from September, the country's stati ...Full Story»

Federal Reserve Hikes Interest Rates, Maintains Rate Outlook For 2018 (05 hr(s), 19 min(s), 32 sec(s) ago)
(RTTNews) - As expected, the Federal Reserve on Wednesday raised the benchmark U.S. interest rate ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

COLOMBIA: Government Tries To Reopen Markets For Meat

12/13/2017 - 18:06 PM (RTTNews)
(RTTNews) - The Colombian Minister of Agriculture and Rural Development, Guillermo Zuluaga, launch ...Full Story>>

Australia Unemployment Data Due On Thursday

12/13/2017 - 17:30 PM (RTTNews)
(RTTNews) - Australia will on Thursday release unemployment data for November, highlighting a busy ...Full Story>>

COLOMBIA: Oil Companies Should Invest At Least US$ 4.5 Billion In 2018

12/13/2017 - 16:52 PM (RTTNews)
(RTTNews) - The Colombian Petroleum Association (ACP) estimates that local companies in the sector ...Full Story>>

ARGENTINA: Country Sets 8% Exporting Tariff For Biodiesel

12/13/2017 - 16:29 PM (RTTNews)
(RTTNews) - The Argentinean government set an 8% exporting tariff to biodiesel as of January 1, 20 ...Full Story>>

COLOMBIA: Government Freezes Prices Of More Than 600 Food Items

12/13/2017 - 15:17 PM (RTTNews)
(RTTNews) - The Colombian government ordered a price freeze of more than 600 food items at nine su ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.