Britain’s services sector grows for second month in June running despite modest pullback

LONDON — Activity in Britain’s services sector rose for the second month running in June despite a modest slowdown in activity, a closely-watched survey showed Friday.

Bank of England says credit conditions eased in the 2nd quarter, demand picked up

LONDON — The availability of credit in the U.K. increased modestly in the second quarter, although default rates and losses also rose and were expected to swell further in coming months, the Bank of England said Thursday.

Report: UK economy shrank 2.4 pct in 1st quarter; worse than previous estimate of 1.9 pct fall

LONDON — The crisis-stricken British economy shrank by a revised 2.4 percent in the first quarter, even more than the previous estimate of a 1.9 percent decline and the worst drop in a half century, the government said Tuesday.

Bank of England says positive economic signs, financial watchdog warns against complacency

LONDON — A Bank of England policymaker said Tuesday that early signs from the bank’s program to boost lending are positive, while the head of the country’s financial watchdog warned that an early economic recovery could undermine efforts to prevent a repeat of the current crisis.

Report: UK mortgage lending 2.3 bln pounds in May, weakest in 8 years

LONDON — Net mortgage lending in the United Kingdom was 2.3 billion pounds ($3.7 billion) in May, the weakest monthly amount in eight years, the British Bankers Association said Tuesday.

UK retail sales, mortgage lending fall in May as public borrowing hits record

LONDON — Retail sales and mortgage lending in Britain dropped in May, dampening hopes that an economic recovery is under way, while government borrowing hit a record high due to the cost of massive stimulus measures, official data showed Thursday.

Bank of England governor joins positive voices on economic outlook

LONDON — Bank of England Governor Mervyn King added to positive voices on the economic outlook Wednesday, saying that financial markets have improved markedly and listing several reasons a recovery is likely this year.

UK construction activity shrinks again, mortgage approvals rise

LONDON — Activity in the U.K. construction industry retreated for the 15th straight month in May, but the number of home mortgages approved has risen for the third month, according to reports published Tuesday.

British economy shrinks 1.9 percent in first quarter, biggest decline in nearly 30 years

LONDON — The British economy shrank in the first quarter at its sharpest rate since the early days of Margaret Thatcher’s government 30 years ago as the financial crisis continued to wreak havoc on banks, retailing and manufacturing.