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IMF raises growth forecast for UK and global economy SHARE The International Monetary Fund (IMF) has raised its forecast for UK economic growth, which is set to outpace the eurozone this year after its slump in 2020, but is unlikely to regain its pre-pandemic size until 2022. The IMF said the economy will grow by 5.3 per cent in 2021, up from a previous forecast of 4.5 per cent it made in January. Britain has suffered Europe’s highest Covid-19 death toll and its economy shrank by almost 10 per cent last year – the worst performance among the region’s big economies except for Spain. However, Britain has moved quickly with its vaccine programme, with well over half of the population having had either first or both their jabs. ....
Construction hits seven-year high as rebound gains momentum Spending on credit and debit cards rises strongly and online job ads return to almost the same level as before the pandemic struck 8 April 2021 • 1:02pm Construction output rose at the fastest pace in seven years in March as a building boom and the economic recovery gained momentum. The resumption of pandemic-delayed projects and a boost from major infrastructure projects lifted the gauge of construction activity to its highest level since September 2014. The IHS Markit/CIPS construction purchasing managers’ index surged to 61.7, marking a significant rise on February’s 53.3 and blowing out economists’ expectations. Any reading above 50 indicates a positive change on the prior year. ....
April 8, 2021 - Written by Ben Hughes Despite hitting its best levels in over a year this week, the British Pound to Japanese Yen (GBP/JPY) exchange rate has plummeted since then, shedding most of the gains seen over the past month in a matter of days. A combination of factors are helping the previously weak Japanese Yen to capitalise against this week’s broad Pound weakness. Unless there is a shift of market sentiment over the coming day, the Pound could remain jittery unless next week’s UK growth data impresses investors. Due to strong currency movement and market sentiment, GBP/JPY has seen huge movements in recent weeks. Last week saw GBP/JPY surge from 151.17 to 153.08 - a massive gain of almost two Yen. ....
UK PMIs: Construction activity grows at fastest rate since 2014 : CityAM cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.