US housing starts at 5-month high

Note: This section contains information in English only.
Source: Marketwatch
The Commerce Department reported 5.2% increase in housing starts in the US in February. The main driver of the spike was single-family house starts, which rose 7.2% to a yearly rate of 822,000, the highest level in nine years. The housing sector is said to be the main driver of the economic growth in 2016 in the US as decrease in construction is not awaited as building permits increased 3.2% in February.
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Wed, 16 Mar 2016 17:00:08 GMT

Chancellor changes tax rates and growth forecast

In the speech to the Lower House of the British Parliament, George Osborne declared about the adjustments for the tax rates, inflation and GDP growth prediction in the UK. Inflation was reviewed to 0.7% for 2016. IPT increased to 10%. The cut of the corporation tax to 17% is expected to be done in 4 years. GDP growth expectations were lowered to 2%, 2.2%

Wed, 16 Mar 2016 15:18:09 GMT

Cable trades down after Osborne's announcement

The Chancellor of the Exchequer, George Osborne, presented negatively adjusted expectations for the economic growth in the UK. The government forecasted the 2% growth for 2016, whilst previously the growth rate had been expected at the 2.4% level. The prediction for 2017 was diminished to 2.2%. The GBP/USD pair lost 0.64% down to $1.4067 after the announcement. 

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