UK GDP holds up in contrast with Hammond’s gloom
United Kingdom annualised GDP growth was reported to have held at provisional estimate of 2.3% in the third quarter of 2016 despite the Brexit vote.
Macro News
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Chancellor cuts growth forecasts, announces £23bn ‘productivity fund’
In delivering his Autumn Statement this afternoon Chancellor of the Exchequer Philip Hammond announced cuts to growth forecasts and a £23bn fund to tackle a lack of productivity in the British economy.
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SLI: World needs more co-ordinated stimulus
Politics are the main barrier to broad-reaching – and much needed – infrastructure spending, according to Standard Life Investments (SLI) as it recognises the need for greater fiscal stimulus.
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Inflation undershoot takes pressure off Carney
The Office for National Statistics has reported inflation dropped to 0.9% in October, slightly undershooting consensus forecasts of 1.1%.
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Japan reports surprisingly strong GDP growth
Japan has reported third quarter annualised GDP growth of 2.2%.
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Hargreaves Lansdown confidence index slides
Hargreaves Lansdown’s Investor Confidence Index reached a low of 59 points in November, its lowest level since the index began in 1995.
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Gold miners surge as Trump risk lifts commodity optimism
Gold jumped as much as $75 an ounce on Wednesday, while gold miners surged as investors watched Donald Trump edge ever closer to the White House.
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Financial advisers around the world react to a Trump presidency
Following Donald Trump’s historic win in US elections, International Adviser asked IFAs across the globe to give their views on the next president.
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Trump wins, investors stunned
Donald Trump has won the US presidential election, riding a wave of global anti-establishment sentiment and in a Brexit-like manner, upending the status quo. Republicans also won a majority in both the Senate and House of Representatives.
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US job growth sluggish pre-election but unemployment rate budges
Friday’s non-farm payroll release was a mixed bag but analysts were encouraged by the drop in unemployment levels.
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Bank of England talks down rate cut chances
The Bank of England has moved to play down the prospects of a further cut to the current UK base rate of 0.25%.
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Brexit might not mean Brexit as court rules MPs must have a say
In a blow to the government’s ‘Brexit means Brexit’ rhetoric, the UK high court has ruled that Parliament must vote on whether or not to Trigger Article 50 of the Lisbon Treaty.
