UK GDP: 2013q1 second estimate
Peter Gutmann discusses Experian Economics 2013 first quarter second estimate of UK GDP.
Peter Gutmann discusses Experian Economics 2013 first quarter second estimate of UK GDP.
Nearly one in four UK residents are thought to have been victims of identity fraud – compared to the average of around one in six on the Continent.
The Consumer Price Index (CPI) annual inflation rate showed an unexpected and marked fall in April to 2.4%, after six consecutive months in a tight range of 2.7% to 2.8%.
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Two out of three UK adults plan to improve their finances by switching this year. Cost of existing financial commitments and an inability to afford repayments is the main driver.
The run of healthy labour market data, defying virtual stagnation in GDP and public sector job cuts in the past year, stalled in early 2013. The combination of job losses and extremely weak earnings growth will keep household incomes under pressure. However, conditions should improve later this year, buoyed by a pick up in the global backdrop, easing inflation and credit conditions.
House price growth is now gradually gaining some momentum. In contrast to our earlier view of a flat housing market in 2013, we now expect some improvement in activity and muted rise in house prices in the year as the government’s Funding for Lending and Help to Buy schemes begin to have an impact on the market.
Business leaders, economic watchers and – indeed – anyone with an interest in our nation’s finances will have found some relief in recent GDP data indicating that the UK had avoided falling into another recession.