UK Inflation Fastest Since 2012

UK consumer price inflation accelerated at a record pace in August, hitting the highest rate since 2012, data from the Office for National Statistics showed Wednesday. The consumer price index rose 3.2 percent year-on-year following a 2.0 percent climb in July. Economists had forecast 2.9 percent inflation and also remained well above the 2 percent […]

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UK Service Sector Recovery Slows In July

UK service sector activity grew at the slowest pace since the end of the winter lockdown as staff shortages and supply issues weighed on business capacity, final survey results from IHS Markit showed on Wednesday. The Chartered Institute of Procurement & Supply services Purchasing Managers’ Index declined to 59.6 in July from 62.4 in June. […]

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UK GDP Growth Slows More Than Expected In May

The UK economy expanded for the fourth consecutive month in May, albeit at a slower pace and remained below the pre-pandemic levels, data from the Office for National Statistics showed on Friday. Gross domestic product grew 0.8 percent month-on-month in May, but slower than the revised 2 percent growth posted in April and the economists’ […]

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UK Service Sector Logs Sharp Growth In June

The UK service sector logged another steep growth in June as looser pandemic restrictions released pent up demand, final data from IHS Markit showed on Monday. The Chartered Institute of Procurement & Supply services Purchasing Managers’ Index registered 62.4 in June, down slightly from 62.9 in May. This was the second-highest reading since October 2013 […]

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UK Private Sector Logs Strong Growth In June

The UK private sector logged one of the fastest expansion on record in June as there were marked increases in output across the manufacturing and services sectors as the economy continued to reopen, following the COVID-19 lockdown, a closely watched survey showed Wednesday. The flash composite output index dropped to 61.7 in June from 62.9 […]

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Why Mehul Choksi is not returning anytime soon

That the extradition procedure is cumbersome is evident from the fact that Mr Choksi’s nephew, Nirav Modi, and businessman Vijay Mallya have not come back even months after favourable orders from UK courts. Shyamal Majumdar reports. It was perhaps over-enthusiasm that prompted the Indian investigative agencies to take a private jet to Dominica to bring […]

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UK Manufacturing Growth At Record High In May

The UK manufacturing sector expanded at a record pace in May on stronger production growth and record gains in new orders, despite a surge in inflationary pressures. The purchasing managers’ index for the manufacturing sector climbed to 65.6 from 60.9 in April, survey data from CIPS and IHS Markit showed Tuesday. Economists had forecast a […]

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UK Retail Sales Growth Tops Expectations In April

UK retail sales growth accelerated more than expected in April driven by the easing of coronavirus restrictions, data published by the Office for National Statistics showed on Friday. Retail sales expanded 9.2 percent month-on-month, faster than the 5.1 percent increase in March and the economists’ forecast of +4.5 percent. Moreover, this was the biggest increase […]

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