More evidence of spluttering economic growth emerged on Thursday with a triple whammy for the UK from builders, manufacturers and a widening trade deficit. The raft of downbeat figures came as the Bank of England prepared to hold interest rates at 0.5% today following growth of just 0.1% for the wider economy between January and March. Construction-industry output fell 2.3% in a snow-affected March — rounding off the worst quarter for the industry in nearly six years. Manufacturers also endured more declines, falling by a worse-than-expected 0.1% over the month. The Office for National Statistics’ latest figures also showed the UK trade deficit widening by £1.9 billion to £3.1 billion, as import growth outstripped exports. “Today’s figures support previous estimates showing the economy was very sluggish in the first quarter of 2018, with little impact overall from the bad weather,” the ONS’s Rob Kent-Smith said. Consultancy … [Read more...] about Economy triple whammy from builders, manufacturers and trade deficit
Trades uk
UK construction output suffers biggest drop since 2012
0 Comments UK construction output suffers biggest drop since 2012 BelfastTelegraph.co.uk UK construction output suffered its biggest decline since August 2012, adding to evidence of “sluggish” economic growth in the first quarter. https://www.belfasttelegraph.co.uk/news/uk/uk-construction-output-suffers-biggest-drop-since-2012-36893290.html https://www.belfasttelegraph.co.uk/news/uk/article36893291.ece/43897/AUTOCROP/h342/bpanews_a40cdda4-07f4-4abd-a82c-84fb2350b501_1 Email UK construction output suffered its biggest decline since August 2012, adding to evidence of “sluggish” economic growth in the first quarter. Figures released by the Office for National Statistics (ONS) show construction continuing its recent decline, falling by 2.7% in the three months to March. It marked the biggest fall on a three-month basis since August 2012, and was driven by falls in both repair and maintenance, as well as new work which dropped 2.8% and 2.6%, … [Read more...] about UK construction output suffers biggest drop since 2012
Portadown in line for one of UK’s largest Greggs food outlets
0 Comments Portadown in line for one of UK's largest Greggs food outlets BelfastTelegraph.co.uk Bakery chain Greggs will open what is believed to be one of its largest UK outlets in Portadown in the near future. https://www.belfasttelegraph.co.uk/business/food-drink-hospitality/portadown-in-line-for-one-of-uks-largest-greggs-food-outlets-36890460.html https://www.belfasttelegraph.co.uk/news/article36890458.ece/6fd49/AUTOCROP/h342/2018-05-10_new_40812530_I1.JPG Email Bakery chain Greggs will open what is believed to be one of its largest UK outlets in Portadown in the near future. Builders are on site now fitting the 2,800sq ft unit in High Street Mall, which will be the chain's 14th store in Northern Ireland. Eamonn Murphy of Murphy Chartered Surveyors, the retail and leisure property consultancy for the mall, said the opening sends out a positive message for the centre which has suffered the loss of tenants recently. "The store is a lot larger than what Greggs would normally … [Read more...] about Portadown in line for one of UK’s largest Greggs food outlets
UK staff in firing line as BT set to axe 13,000 jobs in cost-cutting drive
0 Comments UK staff in firing line as BT set to axe 13,000 jobs in cost-cutting drive BelfastTelegraph.co.uk BT is to axe around 13,000 jobs as part of a revamped cost-cutting drive. https://www.belfasttelegraph.co.uk/news/uk/uk-staff-in-firing-line-as-bt-set-to-axe-13000-jobs-in-costcutting-drive-36892927.html https://www.belfasttelegraph.co.uk/news/uk/article36892930.ece/a85d8/AUTOCROP/h342/bpanews_d0197dc2-2c63-4df8-8a32-aedf317f4d67_1 Email BT is to axe around 13,000 jobs as part of a revamped cost-cutting drive. The company said the job losses would mainly affect back office and middle management roles, with two thirds of the cuts set fall on UK staff. Remaining staff cuts are expected to impact upon BT’s operations abroad. Plans were also revealed to exit the BT headquarters in central London, though another site in the capital is expected to house its head office. The move comes as BT looks to cut costs by around £1.5 billion by the final year of its … [Read more...] about UK staff in firing line as BT set to axe 13,000 jobs in cost-cutting drive
Grafton chief remains upbeat despite weaker trading during March
0 Comments Grafton chief remains upbeat despite weaker trading during March BelfastTelegraph.co.uk Shares in builders' merchanting group Grafton - which operates 15 stores in Northern Ireland - tumbled more than 4% in early trading yesterday after it experienced weaker trading in March. https://www.belfasttelegraph.co.uk/business/northern-ireland/grafton-chief-remains-upbeat-despite-weaker-trading-during-march-36890318.html https://www.belfasttelegraph.co.uk/incoming/article36891406.ece/340f1/AUTOCROP/h342/WCMA%20image.jpg Email Shares in builders' merchanting group Grafton - which operates 15 stores in Northern Ireland - tumbled more than 4% in early trading yesterday after it experienced weaker trading in March. Grafton Group is the parent company of MacBlair, which has 15 branches in Northern Ireland. It said the slowdown was due to bad weather and unseasonably low temperatures. That cut the growth rate in its average, daily, like-for-like revenue to 1.3%. But it left its … [Read more...] about Grafton chief remains upbeat despite weaker trading during March