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Tag: growth

Bank credit growth slows to 10.24%, deposits at 9.73%

Bank credit growth slows to 10.24%, deposits at 9.73%

Finance
MUMBAI: Bank credit and deposits growth slowed to 10.24 percent and 9.73 percent to Rs 96.80 lakh crore and Rs 127.80 lakh crore, respectively, in the fortnight to August 30, show the latest RBI data. In the year-ago fortnight, advances were at Rs 87.80 lakh crore while deposits stood at Rs 116.46 lakh crore. In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore. In July, the non-food bank credit rose 11.4 percent on year-on-year basis from 10.6 percent in July 2018. Advances to the services sector decelerated to 15.2 percent in the month from 23 percent in the year-ago month. Credit to agriculture & allied activities rose 6.8 percent compared with an increase of 6.6 percent in the same month las...
Wage growth stays strong as unemployment falls

Wage growth stays strong as unemployment falls

Business
Wages have continued to grow at a strong pace and employment remains at record highs, official figures show.Earnings excluding bonuses grew at an annual pace of 3.8% in the April to July period, down slightly from the previous reading.Including bonuses, wages rose at an annual pace of 4% - the highest rate since mid-2008.The unemployment rate dipped to 3.8%, while the estimated employment rate remained at a record 76.1%.Click here to take part in a short study about this article run by the University of Cambridge. The number of available jobs was at its lowest level since November 2017, with David Freeman from the Office for National Statistics (ONS) saying: "Vacancies continue to fall back from recent record highs, with ...
UK’s economy back in growth, though recession risk remains

UK’s economy back in growth, though recession risk remains

Business
By James Sillars, business reporter The UK economy recorded growth of 0.3% in July, boosting hopes that a pre-Brexit recession can be avoided.According to the Office for National Statistics (ONS), UK output bounced back from zero growth the previous month thanks to a partial recovery in the dominant services sector. However, the number-crunchers warned of a weaker underlying picture for services, which account for 80% of the economy, across the remainder of 2019. ...
Wage growth nears 11-year high but hiring slows

Wage growth nears 11-year high but hiring slows

Business
By James Sillars, business reporter Average wage growth has accelerated to levels not seen since July 2008, according to official figures. The Office for National Statistics (ONS) said earnings, excluding the effects of bonuses, rose by 3.6% on an annual basis in the three months to May - beating the forecasts of economists. When bonuses were included, the percentage figure rose to 3.4% from 3.2% a month earlier.The data suggests a boost to household spending power as the rate of inflation, due to be updated on Wednesday, currently stands at 2%. Image: Consumer spending has been constrained despite wage growth outpacing inflation But the latest employment figures also betrayed a possible early sig...
Dwarfism drug aims to boost healthy growth

Dwarfism drug aims to boost healthy growth

Health
Scientists hope a new type of medication could boost healthy growth in children born with dwarfism. Sam Short, nine, from south-west London has been on the treatment for three years as part of a global trial.It is experimental but experts hope the drug can stop some of the medical complications linked to stunted growth.The researchers behind the work, published in the New England Journal of Medicine, say the goal is to improve health, not just increase height.Gene changeSam's mother, Jennifer, had a normal pregnancy, so when Sam was born with his condition, it came as a complete surprise. Achondroplasia - the most common form of dwarfism - affects about one in every 25,000 babies. It is a genetic disorder caused by a mutation in a gene that impairs the gr...