Economic News
US retail sales increase 0.4pc in October
US retail sales increased 0. 4% month-on-month in October, according to the Census Bureau, following an upwardly revised 0. 8% gain in September and beating consensus estimates of a 0. 3% rise.
Ofgem green lights funding for £2bn undersea power cable
Britain's energy regulator has given the funding green light for a £2bn subsea and underground cable which transport electricity from wind farms in Scotland to the North East.
EU cuts eurozone GDP forecasts, says downside risks have increased
The European Commission has reduced its economic growth forecast for the eurozone next year, and warned that projections could be reduced further in the event of increased protectionist measures – such as those proposed by Donald Trump.
UK economic growth stalls in third quarter
The UK economy grew by 0. 1% in the last quarter, official data showed on Friday, slightly below expectations.
Chinese retail sales beat forecasts
Retail sales jumped in China last month, official data showed on Friday, in contrast to the ongoing gloom surrounding the under-pressure property sector.