Economy News
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Thinktank NIESR sees flat UK economy in 2012
LONDON - Britain's economy will be flat this year before entering a period of growth in 2013, a leading think-tank said on Friday, reiterating its call for the government to get the economy back on a firmer footing by providing a short-term boost.
Company insolvencies highest since Q4 2009
LONDON - Company insolvencies in England and Wales rose by an annual 4.3 percent in the first three months of 2012 to their highest level since late 2009, official data showed on Friday, raising doubts about the health of the economy.
Stimulus best medicine for UK, says BoE's Bean
LONDON - A highly stimulatory monetary stance is the "the best medicine" to help rebalance Britain's economy, Bank of England deputy governor Charles Bean said in an opinion piece in the Financial Times on Friday.
House prices down 2.4 percent in April
LONDON - House prices fell 2.4 percent in April, reversing a 2.2 percent gain in March, after the expiry of a tax-break for first-time homebuyers, mortgage lender Halifax said on Friday.
Car sales up 3.3 percent year-on-year in April
LONDON - British new car registrations rose by an annual 3.3 percent in April, a stronger-than-expected reading that pointed to improved consumer demand, the Society of Motor Manufacturers and Traders industry body said on Friday.
Service firms step up hiring despite unexpected slowdown
LONDON - Business in the British service sector grew more slowly than expected in April as clients remained cautious, although firms' optimism rose to a two-year high and hiring picked up pace, a survey showed on Thursday.
UK facing bumpy economic recovery - CBI
LONDON - Britain's economy faces a long and difficult recovery with substantial headwinds from the euro zone and high oil prices, the Confederation of British Industry said on Thursday as it revised down its growth forecast for 2012.
BoE should have given stronger crisis warning - King
LONDON - - Britain's economy is recovering more slowly than hoped from a financial crisis which the Bank of England should have warned about more forcefully, BoE Governor Mervyn King said on Wednesday.
Lending and construction offer hope for UK economy
LONDON - Approvals for home loans in Britain rose unexpectedly in March and construction activity grew at a robust pace in April, suggesting some resilience in an economy that entered a recession early this year.
UK at risk of longer slump as euro crisis hits factories
LONDON - British manufacturing output barely grew at all in April as an economic slowdown in the euro zone curbed demand for goods made in Britain, a survey showed on Tuesday, raising the risk of a longer recession.
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