Revised ONS Data Brightens UK Economic Outlook

Revised ONS Data Brightens UK Economic Outlook

Revised ONS Data Brightens UK Economic Outlook - Revised data from the Office for National Statistics (ONS) has provided a more optimistic perspective on the UK's economic performance in the last quarter of 2021. Initial assessments suggested that the UK's economy was 1.2% smaller than its pre-pandemic size, but the updated figures reveal that it was actually 0.6% larger. Expert Insights on Impending Interest Rate Hike Economists and experts are offering insights into the implications of this revised data, particularly in the context of an impending interest rate hike. Thomas Pugh, an economist at RSM UK, expressed surprise at the…
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German Producer Prices fall at fastest rate since 2009

German Producer Prices fall at fastest rate since 2009

German Producer Prices fall at fastest rate since 2009 - German producer prices have shown a steeper than anticipated decline, indicating a swift alleviation of inflationary pressures within Europe's largest economy. The significant drop of 6 percent in prices charged by companies for goods produced in the year leading up to July marks the most rapid decrease since 2009. This deflationary trend has been predominantly driven by substantial reductions in wholesale energy prices, as per data released by the federal statistical agency. Economists Predicted Economists surveyed by Reuters had originally projected a 5.1 percent decrease, underscoring the unexpectedly pronounced nature…
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