Services growth boosts hopes of economic recovery

Hopes for the UK recovery have lifted after official figures showed the powerhouse services sector grew at its fastest rate in nearly nine years in January.

The index of services showed services output rebounded by 1.3% month-on-month in January after plunging 1.1% in snow-hit December, the Office for National Statistics (ONS) said. This was the fastest growth since July 2002.

Economic recovery hopes dashed with bleak levels on household income

Sustained recovery to the economy took another blow after a real household income drops to the lowest for 30 years.

The office for National Statistics reported an overall fall of 0.8% in real household disposable income - this is the lowest since 1977. The announcement of the widest cuts to spending and employment has affected high -street spending. George Osborne said, at the Treasury Committee; "While this budget includes hard measures, we are convinced they are unavoidable in the short term to pave the way for a strong recovery.

One third of Scots firms 'expect rise in turnover'

Almost a third of Scottish firms expect turnover to rise in the next six months, a survey has suggested.

The latest Lloyds TSB Scotland Business Monitor indicated expectations for turnover rose to reach their highest level for three years.

Economic recovery 'is taking longer than we expected', admits Osborne

The recovery will be weaker than expected as Britain struggles out of recession, George Osborne admitted yesterday.

The Office for Budget Responsibility – the Treasury watchdog set up by the Chancellor – said the economy will grow by only 1.7 per cent this year.

That is less than the 2.1 per cent expected in November and 2.3 per cent predicted at the Emergency Budget last June.

Small businesses and young people 'important' to economic recovery

Growth and innovation in small businesses will be crucial to the UK's emergence from the economic downturn, according to Entrepreneurs in Action.

In the expansion, small businesses will almost definitely create graduate vacancies and launch graduate schemes.

Govt: Quake Threatens Japan's Fragile Economic Recovery

The Japanese economy is turning to pick up, but it is only weakly self-sustaining, the Cabinet Office said Wednesday. It also said the influence of the massive earthquake raises concerns about the weak recovery.

In its monthly economic assessment report, the government maintained its view on Japanese exports, saying that the sector is showing movements of picking up.

European debt crisis - impact on the economic recovery

After 2008’s banking crisis, the recession in 2009, perhaps the next phase of global economic turmoil will come from public finances.
Our focus will be on Europe, where there has been growing evidence of countries with acute public finance problems. Spain recently had its rating downgraded by moody’s rating agency and Greece was downgraded deeper into junk status. Whilst perhaps the best approach would be that of a discriminating view on the continent, the complication is the use of a common currency. This takes away the flexibility in terms of what can be done to address some of the problems. Because of the use of the Euro as the common currency, the countries can no longer finance by printing money for instance or devaluing their currencies for competitiveness purposes.

Economy is growing but recovery doubts remain

Britain's economic recovery will continue in the months ahead, but the strength and sustainability of the bounceback remain in doubt, the Bank of England will warn today.

The Bank's Quarterly Bulletin, its review of the economy and financial markets over the three months to the end of Feburary, says there are a number of serious domestic and international threats to the UK.

LISA BUCKINGHAM: The red-tape cutter's route to economic recovery

The fact that George Osborne has no money for showy giveaways in this week’s Budget does not mean we will not see some radical thinking and determination from the Chancellor.

After all, being cash-strapped has sparked some breakthrough initiatives from fellow Ministers.

Government 'must continue to help economic recovery'

The British economy needs the government to support the economic recovery.
The government must provide support to corporate banking if the UK's economic recovery is to keep its current pace.

This is according to the Organisation of Economic Cooperation and Development's (OECD's) latest UK Economic Survey.

Japan's economic recovery rests on power supply

Recovery of Japan's industries will come only as quickly as it can stabilise its power supply, New Zealand Asia Institute director professor Hugh Whittaker said.

The intensity 9 earthquake and subsequent tsunami and aftershocks that hit the country over the last several days have crippled its nuclear power generating capability and damaged a lot of its oil refining capacity.

UK recovery subdued for two years, says OECD

The UK economic recovery will remain subdued for two years, with government spending cuts and slowing world trade weighing down growth, a report says.

The Organisation for Economic Co-operation and Development (OECD) estimated growth this year of 1.5%, rising to 2% in 2012.

Can Clean Energy Drive The Economic Recovery?

President Obama and other leaders have called for investment in cleaner energy sources as a way to create jobs and spur U.S. economic recovery.

But critics argue that alternative energy generally costs more than traditional fossil fuels and that demand for energy overall has fallen during the recession, making the energy sector an odd choice for stimulating a recovery.

Americans unsure about recovery

Economists and politicians might be talking about a recovery, but Americans are not so sure about it.

More than a third of those surveyed in a Bloomberg National Poll do not believe the recession has ended, despite six quarters of economic growth and improvements in other economic indicators. The National Bureau of Economic Research says the recession officially ended in June 2009.

KEN MORRIS: Rising gas prices put economic recovery in jeopardy

Like so many in our nation, I try to keep up to date on current events. After a while, it seems like all the newscasts are repetitive. It’s almost impossible to avoid stories about Wisconsin protests against the governor, lawmakers crossing state lines to avoid voting, Charlie Sheen out of control and turmoil in the Middle East.

In my mind, I can summarize all of this news with one word. Bizarre. Bizarre on all accounts. Obviously, as a nation we cannot be responsible for what happens beyond our shores. But I often wonder how different things would be domestically, and perhaps even internationally, if we truly had a free market.

Tsunami likely to affect economic recovery in short term

The earthquake and tsunami that ravaged Japan Friday will likely have a short-term effect on the global economy, shutting down Japanese factories, ports and oil refineries, but it won't derail the economic recovery, observers say.

UN ESCAP Chief: Asia's Economic Recovery Fragile

The United Nations Economic and Social Commission for Asia and the Pacific warns economic recovery remains fragile because of uncertainties of rising food and oil prices. U.N. Regional Executive Secretary Noeleen Heyzer said governments need to pay attention to the needs of low-income groups, as rising costs push more people into poverty.

Will rising gas, oil prices stall the economic recovery?

Even though oil futures slipped slightly Tuesday on word that OPEC may boost production, the ongoing gains in the price of crude and of products like gasoline is getting a lot of buzz.

For business journalists, it’s worth the time to breathe some new life into this perennial topic and help readers make sense of potential effects on themselves and the larger economy. From a skittish stock market to summer tourism to supermarket shelves, fuel price surges can seriously crimp hope-for rebounds.

Crude shock may halt economic recovery

Gulf News reported that surging oil prices that have been fluctuating in the danger zone between USD 115 and USD 120 per barrel over the past few days combined with rising food and commodities prices, could push inflation and affect the global economic recovery.

Brent crude for April settlement increased 17 cents to USD 115.59 per barrel on the London based ICE Futures Europe exchange. Record breaking gold leapt as high as USD 1,438.30 per ounce on the London Bullion Market.

Lib Dem Tavish Scott reveals economic recovery plan

Scottish Liberal Democrat leader Tavish Scott has outlined his party's plan for economic recovery, ahead of the Holyrood election.

Addressing the Scottish Lib Dem conference, he pledged to create jobs, cut red tape and reform business rates.

Mr Scott also promised to restore excellence in education and fight centralisation, including moves to a Scottish national police force.

Oil price could hit Scots economy

Scotland's economy could be hit by upheaval in the Middle East and rising oil prices, it has been warned.

The latest economic forecast from the Fraser of Allander Institute said the rate of economic recovery appeared to be slowing.

ISM Report: Demand, Production Strengthening As Economic Recovery Gains Momentum

In a sign that the economy continues to recover, albeit unevenly, manufacturing just finished up another strong month.

New orders and production rose at manufacturing companies in February, according to the Institute for Supply Management's monthly Report on Business, released Tuesday. As demand for certain goods appeared to be strengthening, 61.4 percent of manufacturers reported that business in February was better than in the previous month. That figure, which handily beat economists' expectations, is a high unseen since the heady days of May 2004.