16/05/2002
'Recovery is under way' says Bank of England
The latest Bank of England quarterly inflation report has shown strong signs that the UK economy has passed the low-point of the recession and is on the road to recovery.
The quarterly report stated that "there are signs that recovery is under way". However, the Bank of England balanced its buoyant message by warning that there are "considerable uncertainties" in the economy that could yet depress the markets. However, the broad outlook is good for the future.
"Present indications are that the last quarter of 2001 was the trough of the current cyclical slowdown," the report said.
The report continued: "World output appears to have grown somewhat faster in the first quarter than was expected in the February report."
The Bank said that there was "significantly stronger" growth in GDP in the second quarter which reduced inflationary pressures.
The news will be welcomed by homeowners who are enjoying the lowest interest rates for a generation. The quarterly findings should push back the interest rate rises which many analysts predicted would be made next month.
The report also endorsed many of the measures proposed by Gordon Brown in his April budget.
The Bank said: "There are signs that investment in pensions may be starting to revive in the services sector, while substantial increases in public sector capital spending are also planned."
Apart from February's aberration, the inflation rate is still on target to match government target of 2.5% for the year.
(GMcG)
The quarterly report stated that "there are signs that recovery is under way". However, the Bank of England balanced its buoyant message by warning that there are "considerable uncertainties" in the economy that could yet depress the markets. However, the broad outlook is good for the future.
"Present indications are that the last quarter of 2001 was the trough of the current cyclical slowdown," the report said.
The report continued: "World output appears to have grown somewhat faster in the first quarter than was expected in the February report."
The Bank said that there was "significantly stronger" growth in GDP in the second quarter which reduced inflationary pressures.
The news will be welcomed by homeowners who are enjoying the lowest interest rates for a generation. The quarterly findings should push back the interest rate rises which many analysts predicted would be made next month.
The report also endorsed many of the measures proposed by Gordon Brown in his April budget.
The Bank said: "There are signs that investment in pensions may be starting to revive in the services sector, while substantial increases in public sector capital spending are also planned."
Apart from February's aberration, the inflation rate is still on target to match government target of 2.5% for the year.
(GMcG)
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15 May 2002
CCTV scheme in Derry “exceeds expectations”
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01 March 2002
Quarterly report reveals Telewest's mixed results
Telewest Communications' quarterly results have revealed that the company's net debt is continuing to rise, and has edged over £5 billion for the quarter. This is in spite of a 17 per cent sales rise to £1.32 billion, which far exceeded even the most optimistic predictions.
Quarterly report reveals Telewest's mixed results
Telewest Communications' quarterly results have revealed that the company's net debt is continuing to rise, and has edged over £5 billion for the quarter. This is in spite of a 17 per cent sales rise to £1.32 billion, which far exceeded even the most optimistic predictions.
29 January 2002
Fujitsu announces further job cuts
Troubled global technology conglomerate Fujitsu has announced the cutting of more than 1000 jobs, following on from a less than optimistic third quarterly report. The latest round of jobs cuts is part of a 4,500 worldwide redundancy exercise announced in October 2001 and brings the total losses to 22,000 for this financial year.
Fujitsu announces further job cuts
Troubled global technology conglomerate Fujitsu has announced the cutting of more than 1000 jobs, following on from a less than optimistic third quarterly report. The latest round of jobs cuts is part of a 4,500 worldwide redundancy exercise announced in October 2001 and brings the total losses to 22,000 for this financial year.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
