Economy News

A closely watched gauge of growth in British manufacturing activity rose to its highest level in three years last month, as factories rushed to complete work before the end of the post-Brexit transition period on Dec. 31.

British consumer confidence rose to its highest since February in the first half of December, before a new variant of COVID-19 prompted the government to tighten lockdown restrictions across England, a survey showed on Thursday.

When 2020 dawned, the global economy had just notched its 10th straight year of uninterrupted growth, a streak most economists and government finance officials expected to persist for years ahead in a 21st Century version of the "Roaring '20s."

LONDON (Reuters) -British house prices rose faster than expected in December to record their biggest annual increase in six years, as tax incentives and COVID-driven appetite for larger homes continued to boost demand, mortgage lender Nationwide said.

The Bank of England must have a "laser focus" on keeping inflation expectations in check once the COVID-19 crisis eases, the central bank's Chief Economist, Andy Haldane, said in an interview with Bloomberg.

A fall in British business activity deepened after the country began to tighten coronavirus restrictions again last month, the Confederation of British Industry said on Wednesday, calling for more support for businesses from the government.

Britain's economic recovery from its coronavirus crash was quicker than previously thought in the third quarter, according to official data, but new lockdowns are threatening to cause a another recession.

Total shopper numbers across British retail destinations rose 2.3% in the week to Dec. 19 compared to the previous week, reflecting Christmas demand, market researcher Springboard said on Monday.

British retail sales recovered in December as restrictions on shops were eased and consumers bought food and other essentials ahead of Christmas, but the outlook for January was the worst since the summer, a survey showed on Monday.