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Financial News

Financial Commentary – August 2009

GBP/EUR reached back to 1.18 for the first time since the end of June. Recent data again demonstrated the contrast between the UK and the EU with the former’s service sector survey rising for the 3rd month in a row above 50 and the EU’s falling short at 45.7. The UK also recorded monthly gains in industrial production, while EU retail sales remained stubbornly negative. Continue reading

Financial Commentary – July 2009

Just when the green shots were at their greenest with consumer confidence and house prices running high and Sterling reflecting the momentum of this recovery, the final reading of Q1 GDP (Gross Domestic Product) brought everything crashing back to earth. Despite this data being considered historic (we are a clear quarter further on now), the fact that growth dropped by 2.4% (almost 10% if annualised), the deepest in 50 years, was a reminder of how severe this recession has been thus far and therefore how fragile this
recovery seems in comparison. Continue reading

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