Economic News
ISM services PMI declines in November
The Institute for Supply Management's November services PMI declined to 52. 1 in November, down from 56 in October and well and truly short of expectations for a reading of 55. 5.
US private sector adds fewer jobs than expected in November - ADP
Private sector employment in the US rose less than expected in November, according to figures released on Wednesday by ADP.
UK service economy falters, outlook weakens - PMI
Business optimism across UK service providers sank to a two-year low in November, a closely-watched survey showed on Wednesday, on mounting concerns about higher costs.
US weekly mortgage applications rise 2.8pc
US mortgage applications rose 2. 8% in the week ended 29 November, according to the Mortgage Bankers Association.
BoE could cut rates four more times in 2025, says governor Bailey
The governor of the Bank of England has said that four more interest-rate cuts are on the cards for next year if the trajectory of the UK economy continues as expected.
SWR, c2c and Greater Anglia to be Labour's first renationalised train firms
The government has announced plans to bring train operators South Western Railway (SWR), c2c and Greater Anglia under public ownership next year, as the first parts of its sweeping nationalisation of the UK rail network.
OECD ups growth forecast but warns of risks from protectionism, geopolitics
Global economic activity is expected to accelerate next year, according to the OECD, but geopolitical instability and protectionist moves by governments threaten to disrupt the path of disinflation and weaken the growth outlook.
Faltering service sector weighs heavily on Eurozone
The Eurozone economy slipped into contraction in November, a closely-watched survey showed on Wednesday, after services output slumped.
Eurozone producer prices rise as expected
Industrial producer prices in the eurozone increased as expected in October, according to figures out on Wednesday from Eurostat.
China services growth eases in November - Caixin
Growth in China’s services sector eased in November, according to data released on Wednesday.