The US economy expanded at an annual pace of 3% during the three months to the end of September, which was stronger than expected. The growth extended the robust activity reported in the previous quarter, when US GDP grew at an annual pace of 3.1%. Analysts had been expecting a sharp slowdown after back-to-back hurricanes […]

Britain saw its smallest budget deficit for any September in the last 10 years, according to official figures. Last month’s deficit stood at £5.902bn, down almost 11% compared with the same month last year, the Office for National Statistics (ONS) said. With many economists having forecast a deficit of about £6.5bn, the news will be […]

The eurozone economy ended the third quarter of the year on a strong note, a survey has indicated. The IHS Markit composite purchasing managers’ index (PMI) suggested private businesses grew faster than expected in September. It said manufacturers had enjoyed their best month since early 2011. Chris Williamson, chief business economist at IHS Markit, said: […]

The UK’s inflation rate climbed to its joint highest in more than five years in August as the price of petrol and clothing rose. UK inflation measured by the Consumer Prices Index rose to 2.9% in August, up from 2.6% in July, figures show. The fall in the value of sterling since the EU referendum […]

The UK’s manufacturing output grew at the fastest pace this year in July, according to official figures. Output rose by 0.5% in the month, the Office for National Statistics (ONS) said, as car production rebounded after declining in June. Recent surveys of the manufacturing sector have suggested that it is seeing a pick-up in orders […]

Growth in the UK’s manufacturing sector accelerated last month, according to a closely watched survey, with output, orders and employment all picking up. The Markit/CIPS purchasing managers’ index (PMI) for manufacturing rose to 56.9 in August from 55.3 in July. A figure above 50 indicates expansion. The PMI reading was the second highest for more […]

The US economy added 156,000 jobs in August, less than the previous month and below expectations. Analysts had expected US non-farm payrolls to rise by between 175,000 and 185,000 last month. Data released by the US Department of Labor also showed that employment growth in June and July was lower than originally estimated. The department […]

Tourism has been one of the most successful parts of the UK economy recently, thanks in part to Brexit. The weaker value of the pound since the Brexit referendum vote means that the UK is now a much cheaper destination than it used to be. Many mainland Europeans, Americans and Chinese people are taking advantage […]

Prices in the US rose by less than expected last month, as inflation in the economy remained tame. The Labor Department’s Consumer Price Index (CPI) inched up 0.1% last month, only a slight improvement on a stagnant June figure. Economists polled by Reuters had expected a 0.2% month-on-month increase. The dollar fell on the inflation […]

The US economy saw strong jobs growth in July, helped by a wave of hiring in the hospitality industry. The Bureau of Labor Statistics said 209,000 jobs were created in July, which was more had been expected. The unemployment rate edged lower to 4.3%, matching May’s figure which was the lowest since 2001. Employment in […]