Welcome to this month’s news round-up of all the major stories that have kept us talking in November.
Figures from the ONS showed that the non-financial business economy contributes £1 trillion to the UK, when measuring approximate Gross Value Added (aGVA) at basic prices. In addition, the annual aGVA growth of 8.1 per cent was at its highest since 1997, and the service sector accounted for over half of this record figure.
According to the CBI’s SME Trends Survey, domestic demand boosted small manufacturers, helping to alleviate the decline in exports. Domestic orders also increased for the fifth quarter in a row.
The gender pay gap in the UK dropped to a record low of 9.4 per cent as female representation in the board room increased. Women aged 22 to 39 now earn more than men; but the UK still ranks 26th on the Gender Gap Index.
The UK was rated as the best country for entrepreneurs in Europe, and came fourth overall in the latest Global Entrepreneurialism Index. Consistent high performance across key criteria helped gain this high score.
Figures from RBS’s latest Regional Growth Tracker show that England’s capital plays a major role in the nation’s growth, expanding by 3.7 per cent in the third quarter of 2014. The East Midlands region was not far behind, growing 3.5 per cent, and closely followed by the south east and east of England.
Markit PMI data showed the UK manufacturing industry hit a three-month high at 53.2 in October, highlighting that growth is still possible despite slackening demand from the Eurozone.
The London Stock Exchange will be shaking up the trading day as it announces new midday auctions. Auctions will be conducted anonymously to provide an environment where companies can easily trade large chunks of stock.
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