Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Currencies  >  Euro / British Pound (EUR/GBP)    EURGBP   

EURO / BRITISH POUND (EUR/GBP)

SummaryQuotesChartsNews 
News SummaryAll newsMarketScreener Strategies

UK economy flat-lines as election nears

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/10/2019 | 07:04am EST

(SOUNDBITE) (English) BRITISH PRIME MINISTER, BORIS JOHNSON, SAYING:

"Do you want to take this country forward? Get Brexit done. Get moving again ...."

Pre-election promises from Boris Johnson ....

But any pledge to reenergise an ailing British economy is an increasingly tall order.

UK growth in the three months to October flatlined when compared to the previous three months.

Over the year, it slipped - at 0.7 per cent - to its slowest pace in nearly seven years.

Tuesday's (December 10) data also gave a dismal snapshot of industrial production - it fell 0.7 per cent in the same three month period ...

While the all-important services sector was at its weakest since June.

And - if anyone was looking to exports to bolster confidence - Britain's goods trade deficit widened to a much higher-than-expected 14 and a half billion pounds in October.

The one winner of the day: sterling.

It was cementing gains on bets that Prime Minister Johnson's governing Conservative Party will form the next government too.

But at just short of one dollar 32 it's still far below its pre-Brexit referendum peaks.

Analyst Jeremy Batstone-Carr:

SOUNDBITE (English) JEREMY BATSTONE-CARR, PROFESSOR OF GLOBAL FINANCE, UWE, SAYING:

"The reason for sterling's weakness on the global markets is because of the weakness of the economy. And, of course, because of that substantial trade deficit, which is not going to go away."

Britain's main opposition Labour Party is also promising to boost growth.

But the approach of a Brexit deadline and the global economic slowdown are seen as the broad backdrop to the weaker data.

The uncertainty likely to continue - whoever wins Thursday's (December 12) vote.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EURO / BRITISH POUND (EUR/
04:44aBerkeley's bumper 1 billion pound payout gives UK housebuilders a lift
RE
03:29aJapan cuts capex view on sluggish global demand but says economy recovering
RE
03:14aWH SMITH : sales boosted by travel demand, U.S. acquisitions
RE
02:05a'Death Cross,' growth abroad threaten U.S. dollar
RE
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
More news
Chart EURO / BRITISH POUND (EUR/GBP)
Duration : Period :
Euro / British Pound (EUR/GBP) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO / BRITISH POUND (EUR/
Short TermMid-TermLong Term
TrendsNeutralBearishBearish