GBP News

U.K. industrial production dropped unexpectedly and the visible trade gap widened to the highest level in a year in July largely due to a strong pound, suggesting a weak start to the third quarter. Industrial output dropped 0.4 percent on a monthly basis in July, having had an equivalent fall in the prior month, the Office for National Statistics said Wednesday.

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U.K. budget balance showed its biggest shortfall for August in three years as tax revenue declined from last year, data published by the Office for National Statistics showed Tuesday. Public sector net borrowing excluding public sector banks increased by GBP 1.4 billion from last year to GBP 12.1 billion in August.

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British service sector growth unexpectedly slowed for a third consecutive month in September to its lowest level in nearly two-and-a-half years in September, hurt by a slump in new business growth, signaling that economic performance was soft at the end of the third quarter. The Markit/CIPS UK Services Purchasing Managers' Index dropped to 53.3 from 55.6 in August, survey results showed Monday.

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U.K. house prices dropped unexpectedly in September, data from Lloyds Banking Group's Halifax division revealed Tuesday.

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The U.K. unemployment rate declined to its lowest since 2008 pushing the employment rate to a record high, data from the Office for National Statistics showed Wednesday. The ILO jobless rate fell to 5.4 percent in the three months to August, the lowest since June 2008, from 5.6 percent in the March to May period. During the three months to July, the rate was 5.5 percent.

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UK retailers reported a sharp slowdown in sales growth during October after a strong September, survey figures from the Confederation of British Industry showed Thursday.

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Policymakers of the Bank of England decided to hold its key interest rate at a record low again in a split vote and also downgraded its economic growth and inflation forecasts.

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Permanent job placements in the U.K. increased at the fastest pace in seven months in November, the Report on Jobs compiled by the Recruitment and Employment Confederation and KPMG showed Monday.

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British manufacturers are set to have a subdued end to the year amid the weaker global economic outlook, the U.K. manufacturers' association EEF said Monday.

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U.K. house price inflation accelerated for the third straight month in October to the highest level in seven months, figures from the Office for National Statistics showed Tuesday.

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