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« on: Oct 8th, 2018, 2:28am » |
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LONDON Authentic Paul Millsap Jersey , Aug. 8 (Xinhua) -- British deficit on trade in goods and services was estimated to have reached 2.5 billion British pounds (4.2 billion U.S. dollars) in June 2014, up from 2.4 billion pounds a month earlier, the Office for National Statistics (ONS) said Friday.
Economists here reckon that British economic recovery has become more unbalanced in the second quarter, and plenty of headwinds are ahead for the country's exporters.
EXPORTS DWINDLES
Britain registered a 9.4 billion pounds deficit on goods trade, and an estimated surplus of 7 billion pounds on services in June, data showed. The trade in goods deficit widened by 0.3 billion pounds compared with May 2014.
Exports of goods decreased by 0.5 billion pounds between May and June 2014 to 23.5 billion pounds, as oil and manufactured goods fell over the period. Imports of goods decreased by 0.1 billion pounds to 32.9 billion pounds in June Authentic Isaiah Thomas Jersey , said ONS.
In the three months to June 2014, British exports of goods decreased by 0.5 billion pounds to 71.3 billion pounds, and imports of goods increased by 0.4 billion pounds to 98.7 billion pounds.
The deficit on trade over the same period was 27.4 billion pounds, figures also showed.
CHRONIC IMBALANCE
June's trade data provided further evidence that the economic recovery became more unbalanced in the second quarter, and net trade was probably a drag on gross domestic product (GDP) growth in the second quarter, said Paul Hollingsworth, assistant economist at Capital Economics in an analysis piece.
"There are still plenty of headwinds which mean that exporters may continue to struggle in the near term Nikola Jokic Jersey ," said Hollingsworth, citing the effects of sterling's appreciation and dismal external demand as the main hindrances.
Martin Beck, senior economic adviser to the EY ITEM Club, also commented in a note that the less balanced growth is likely to remain the case for the "foreseeable future."
"Sterling rose further in July while the Euro zone economy looks set for little or no growth in the second quarter. Meanwhile, a continuation of the recent rapid rises in import-intensive investment and retail sales is likely to eventually drive up import growth," he added.
In a report released by the Royal Bank of Scotland (RBS) this week, Britain's trade performance over the past two decades has been worse than any other country in the Group of 7 (G7).
Between 1996 and 2012 Gary Harris Jersey , Britain's goods exports increased by 74 percent, while over the same period, the U.S. goods exports grew by 133 percent, and Germany jumped by 173 percent, said RBS.
The bank warns that British government might miss its target to double exports to one trillion pounds by 2020 until further action is taken. (1 British pound = 1.68 U.S. dollars)
LONDON, July 25 (Xinhua) -- Britain's gross domestic product (GDP) in the second quarter of 2014 grew by 0.8 percent, the same as in the first quarter Paul Millsap Jersey , data by Office for National Statistics (ONS) showed Friday.
The figures also showed the economy was now 0.2 percent above its pre-crisis peak in the first quarter of 2008. From peak to trough in 2009, the economy shrank by 7.2 percent.
Output of services industry in Britain last quarter increased by 1.0 percent compared with the first quarter of 2014, while the production industry grew by 0.4 percent. However, construction and agriculture output decreased by 0.5 and 0.2 percent respectively, said ONS.
The current 2010-based weights of the four industries' outputs are 77.8 percent (services), 15.2 percent (production), 6.3 percent (construction) Isaiah Thomas Jersey , and 0.7 percent (agriculture) respectively.
Compared with the same quarter a year ago, Britain's GDP was 3.1 percent higher in the second quarter of 2014, data showed.
George Osborne, the Chancellor of the Exchequer of Britain, said: "Thanks to the hard work of the British people, today we reach a major milestone in our long-term economic plan."
"The preliminary estimate of GDP brings the long-awaited news that the Britain economy has finally recovered all of the ground lost during the recession," said Samuel Tombs Cheap Denver Nuggets Jerseys , the senior Britain economist in Capital Economics, a London-based economic research company.
Britain's economy performs strongly this year, some financial institutions raised British economic growth forecasts.
Earlier this week, the EY ITEM Club, an economic analysis company, said in its quarterly report that with 3.1 percent points expected GDP expansion for 2014, Britain is set to achieve the strong growth rate among the Group of Seven (G7) economies.
"Our forecast for GDP growth remains an above-consensus 3.3 percent this year Wilson Chandler Nuggets Jersey , and a robust 3 percent in both 2015 and 2016," said Tombs.
NEW YORK, Feb. 11 (Xinhua) -- U.S. stocks were little changed after wavering around flatline in a tight range Wednesday, as investors were eagerly awaiting the outcome of an emergency meeting of European finance ministers.
The Dow Jones Industrial Average lost 6.62 points, or 0.04 percent, to 17,862.14. The S&P 500 edged down 0.06 point Will Barton Nuggets Jersey , or less than 0.01 percent, to 2,068.53. The Nasdaq Composite Index added 13.54 points, or 0.28 percent, to 4, 801.18.
Wednesday's emergency meeting is part of the continuing negotiations between eurozone and Greek leaders over the next few days. Greek Finance Minister Yanis Varoufakis is expected to request a bridge agreement to cover the country's funding needs until autumn while the government is negotiating a final agreement with creditors on further debt relief.
U.S. weekly mortgage applications, a measure of mortgage loan application volume Tyler Lydon Nuggets Jersey , were down 9 percent on a seasonally adjusted basis, the Mortgage Bankers Association said Wednesday.
In corporate news, Apple's shares gained 2.34 percent to 124.88 dollars apiece Wednesday, making the Nasdaq the only major index ending higher. The tech giant's market ca. Jerseys Wholesale Jerseys Cheap Jerseys China Jerseys China Jerseys China Wholesale Jerseys Wholesale Jerseys From China Wholesale Retro Jerseys Wholesale Hockey Jerseys Wholesale NFL Football Jerseys
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