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David Smith’s EconomicsUK.com
"The personal website of David Smith, Economics Editor of the Sunday Times, London.”
May 9, 2008, 7:30 am, 289441
The FT-Acadametrics house price index continues to provide a much calmer picture than other measures. It reckons prices slipped by 0.2% last month, as in March, to take the annual rate down to 4.1%. Regionally, annual rates range from 0.9%...
May 8, 2008, 8:20 am, 288762
The Bank of England's monetary policy committee left Bank rate unchanged at 5%, as most analysts had expected, despite a late flurry of weak data. Attention will now switch to the Bank's quarterly inflation report on Wednesday....
May 6, 2008, 8:45 am, 287316
For those who are interested, there is a new paperback edition of my book The Dragon and the Elephant: China, India and the New World Order. Pocket-sized and with a new introduction, it can be bought on Amazon for...
May 4, 2008, 4:59 am, 286210
Following its latest quarterly meeting (carried out in conjunction with the Sunday Times) the Shadow Monetary Policy Committee (SMPC) narrowly voted to leave Bank Rate unchanged on Thursday 8th May. In particular, five members of the shadow committee voted for...
May 4, 2008, 5:00 am, 286209
Recent days have witnessed some extraordinary developments, most of them from the Bank of England. Time was when months would go by without a peep from the Old Lady. Now it has become a news-generating machine that Max Clifford...
May 1, 2008, 5:30 am, 284891
Is the glass half full or half empty? The Bank of England's six-monthly Financial Stability Report has been reported as saying the worst of the crisis is over. It is, perhaps, a bit more measured than that but it does...
April 30, 2008, 5:45 am, 284216
The Nationwide Building Society reported that house prices fell by 1.1% in April and were down by 1% on a year earlier, the first year-on-year fall on its index since 1996. The shift from 10.2% house-price inflation in April last...
April 29, 2008, 5:45 am, 283531
Mortgage approvals in March hit a new series low of 64,000, down from 72,000 in February (itself revised down) and an average of 81,000 over the previous six months. Though the figure was weak, it was perhaps not as weak...
April 27, 2008, 5:00 am, 282454
It never rains but it pours. While the credit crunch hangs over the economy like the grim reaper, food prices have jumped to their highest since 1945 and oil came within a whisker of $120 a barrel. Faced with...
April 25, 2008, 5:45 am, 281804
The economy grew by a below-trend 0.4% in the first quarter, broadly in line with expectations - the choice was between 0.4% and 0.5%. GDP was up by 2.5% on a year earlier. So 63 consecutive quarters of growth, but...