U.K. budget surplus falls as income taxes decrease

Source: Bloomberg
The government of the United Kingdom announced a worse-than-predicted budget surplus during the first month of this year amid declining revenue from company's profits and private incomes. Revenue was unchanged year-on-year, but spending rose 0.8%. This resulted in a 4.7 billion pounds surplus versus 6 billion pounds the year before. Analysts expected an 8 billion pounds surplus.
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Fri, 21 Feb 2014 11:01:40 GMT

Spanish exports to grow further amid economic recovery

The government of Spain upgraded its forecasts concerning growth of exports in 2014. As projected, the trade deficit of the country will plummet to 16 billion euro this amid 7% increase in exports, up from the previous expectation of 5.5%. Analysts confirm that economic recovery in Spain will be mainly based on improvement in trade, as domestic demand remains weak.

Fri, 21 Feb 2014 09:51:13 GMT

British retail sales drop on clothes and food

Retail sales in the United Kingdom decreased significantly in January of this year, putting the economic recovery under the risk. The indicator went down 1.5% month-on-month after a 2.5% rise in December. Analysts suppose that it could be a correction after a considerable surge. Meanwhile, the biggest drop was seen in sales of food and clothes – by 3.4% and

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