Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
In the UK this morning, we find out how the private sector fared in January. The PMI survey reading is likely to show that activity in the manufacturing, construction and services sectors all improved last month, with services showing the strongest growth. Whether this “Boris bounce” will be reflected in more concrete economic data to be released later this month remains to be seen.
Also in the morning, we get the same data for the eurozone. Overall, activity is expected to have continued to grow, but with a fair amount of variation across the region.
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In the US this afternoon, we get data on services sector activity for January. The services sector is by far the most important contributor to US economic growth. Activity in the sector remains strongly positive. It has also been rebounding since the fourth quarter of last year, after slowing for much of 2019, and analysts expect this to continue.
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Rightmove: UK asking prices hit record high but Britain enters buyer’s marketHigher property taxes are stifling the typically-busy spring selling season and buyers are benefiting from more choice, meaning sellers must price their homes more competitively
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Inheritance tax reforms: government urged to rethink curbs on rural reliefsMPs want the government to delay changes to inheritance rax reliefs for farmers
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Trapped in a time of zombie governmentIt’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
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America is in deep denial over debtThe downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
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Bank of England raises interest rates to 5.25%The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
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UK inflation remains at 8.7% ‒ what it means for your moneyInflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
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VICE bankruptcy: how did it happen?Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
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Would a food price cap actually work?Analysis The government is discussing plans to cap the prices of essentials. But could this intervention do more harm than good?
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UK inflation slides to 8.7% - what does it mean for your money?News Inflation has dropped below 10% for the first time in months, but with food prices at a 45-year high, is this good news and what does it mean for your money?
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Why the UK equity market is shrinkingAnalysis The crisis has been building for 25 years, says Max King, and it will take decades to reverse the trend.
