UK debt now exceeds 100% of GDP

UK GDP

UK borrowing surges to pay for Covid-19 impact The UK’s debt is now worth more than its economy after the government borrowed a record amount in May 2020. The £55.2 billion was nine times higher than in May 2019 and the highest since records began. The borrowing sent government debt to £1.95 trillion, exceeding the size of the economy for the first time in more than 50 years. The borrowing was necessary as the UK government battled against the affects of the pandemic and as an extensive array of spending…

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Economic damage done by Covid-19

Coronavirus

As we continue to look at the economic damage done by the coronavirus, yesterday’s focus was on the U.S. ISM manufacturing PMI, which rebounded a little and gave some optimism to markets. The data may suggest that the worst is past for the U.S. economy and that the slowdown in factory output could end soon. I’m not so sure though, we really need to wait and see the post lockdown economic data to draw hard and absolute conclusions. Also in the U.S., we are witnessing historic levels of unemployment, racial…

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Scheduled market news events 29th January 2020

Scheduled market news events

Scheduled market events U.S. – The Federal Reserve due to announce interest rate decision at: 19:00 GMT followed by press conference at: 19:30 GMT. U.S. current interest rate is: 1.75% – the consensus is for it to remain at 1.75% Germany – consumer confidence survey data due UK – Nationwide house price data due U.S. – home sales data due at: 15:00 GMT German consumer confidence Consumer confidence survey data shows a small increase from previous the reading of 9.7 to 9.9 UK house prices climb in January UK annual…

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China economy slows

China GDP

Data released today 17th January 2020, reports that China’s economy slowed to its slowest pace in 29 years! But it is slowing from a high and a remarkable period of sustained growth. Will a slowing economy affect the Phase One trade deal? If China’s economy is slowing, how does this bode for the promise made in the U.S. – China Phase One trade deal, where China is to increase U.S. purchases over the next two years? Keep a promise Can China afford to keep this Phase One trade deal promise?…

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UK registers first trade surplus since mid 1980’s

GB

The United Kingdom actually reported a trade surplus yesterday, something it failed to achieve since the mid-1980’s. Trade surplus Data published by the Office for National Statistics (ONS) yesterday showed November’s trade surplus was £4031 million, a sensational record high and compares with a record £8145 deficit in March 2019. The trade in goods alone resulted in a deficit of £5256 million in November and a non EU surplus in goods and services of £1734 million. Go UK!

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UK Parliament to be suspended – Daily market moving news & events roundup, 29th August 2019

Westminster

Market moving daily news roundup – events & news likely to move markets 29th August 2019 Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad. Summary Economic calendar – scheduled news and events 29th August 2019 Japan – bond investment data due and consumer confidence reading France – GDP data due Norway – GDP data due Spain – consumer price index data due Sweden – consumer confidence reading due Germany – employment data due at: 09:00 BST Italy – industrial and…

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Economic calendar news,14th August 2019 market moving scheduled events

Economy

Main scheduled daily economic news and data most likely to move markets today, 14th August 2019 Japan – machinery orders Australia – wage price index data due China – retail sales and industrial orders data due Germany – GDP data due at: 07:00 BST UK – retail/consumer price index data due at: 09:30 BST EU – GDP data due at: 10:00 BST Germany – 10 year bond auction dur at: 10:30 – 11:00 BST U.S. – export/import price data due at: 13:30 BST Note Items highlighted in red are more…

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Economic news calendar 13th August 2019, market moving scheduled events

Economic Calendar

Main scheduled daily economic news and data most likely to move markets today, 13th August 2019 Singapore – GDP data due Germany – consumer price index data due at: 07:00 BST China – foreign investment data due at: 08:00 BST UK – employment and earnings data due at: 09:30 BST Germany – economic sentiment data due at: 10:00 BST EU – economic sentiment data due at: 10:00 BST U.S. – consumer price index data due at: 13:30 BST Note Items highlighted in red are more likely to move markets, amber…

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Economic news calendar 12th August 2019, market moving scheduled events

Economy

Main scheduled daily economic news and data most likely to move markets today, 12th August 2019 Quiet scheduled event news day U.S. – securities ‘bill’ auction due at: 16:30 BST U.S. – monthly budget data July due at: 19:00 BST Note Items highlighted in red are more likely to move markets, amber and blue less so. What I regard as the ‘main’ scheduled events are listed here

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Economic calendar 7th August 2019, market moving scheduled events

Global economy

Main scheduled daily economic news and data most likely to move markets today, 7th August 2019 Little scheduled major market moving data to report today. Note – China’s yuan China – sets yuan rate at slightly below $7.00. The yuan has been weakening recently as the trade war between the U.S. and China intensified. The yuan’s level against the dollar is crucial as a lower currency makes exports cheaper. Scheduled market news New Zealand – Reserve Bank of New Zealand interest rate announcement Germany – industrial production data due at:…

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