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Economy News

UK economy's growth in third quarter revised up, smallest current account gap since 2012

Britain's economy grew a little faster in the third quarter than first estimated and the country's current account deficit shrank to its smallest since 2012, a small boost ahead of what looks set to be a sluggish end to the year ahead of Brexit.

Veteran watchdog Bailey to guide Bank of England through Brexit

福利网站Britain's new government named Andrew Bailey as the Bank of England's next boss on Friday, entrusting a veteran regulator and technocrat with steering the economy and its vast finance industry through Brexit.

UK car industry calls for tariff-free deal with EU as output slumps

Britain's car industry body called on Prime Minister Boris Johnson to secure a tariff-free trade deal with the European Union which avoids barriers for businesses as production slumped in November.

UK consumer and business morale touched five-month high before election - surveys

福利网站Confidence among British consumers and businesses rose to the highest level in five months in the run-up to Prime Minister Boris Johnson's emphatic election victory last week, surveys showed on Friday.

Britain to cut some business rates, conduct 'fundamental review'

Prime Minister Boris Johnson's government plans to introduce a 50% discount in business rates for Britain's small retailers to boost the country's struggling high streets and pledged a "fundamental review" of the whole system in the future.

UK confirms plan to balance current budget within three years

Britain plans to balance the government's current budget, which excludes investment spending, within three years, Queen Elizabeth confirmed on Thursday as she outlined the plans of Prime Minister Boris Johnson's government.

Bank of England holds steady on rates, awaits impact of Johnson's election win

The Bank of England kept interest rates steady on Thursday, saying it was too soon to gauge how much Prime Minister Boris Johnson's election victory would lift the Brexit uncertainty that has hung over the economy.

Cautious UK shoppers send retail sales growth to 19-month low

British shoppers kept a tight grip on their wallets last month as retail sales grew at their slowest annual pace since April 2018 amid uncertainty about Brexit and December's election.

UK annual pay settlements edge up to 2.8% in November - XpertHR

British employers offered their staff an average annual pay settlement of 2.8% in the three months to November, up slightly from 2.7% in the three months to October, industry data showed on Thursday.

UK house prices to rise 2% in 2020 as Brexit uncertainty remains - RICS

British house prices are expected to rise around 2% next year, little changed from this year, as uncertainty around Brexit is likely to lift only briefly, the Royal Institution of Chartered Surveyors (RICS) said on Thursday.

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