Is the UK Economy Slowing Down?
It would appear that the UK economy is facing something of a slow down if the most recent set of data released by the purchasing managers’ index is to be taken at face value, for the most recent set of figures released shows that the economy in the UK fallen to 55.4 to 53.9 on that index in August and September respectively.
Whilst the purchasing managers’ index is one on which anything with a score of over 50 is a positive set of figures those two monthly figures are the lowest seen since April of 2013 and is an indication of households in the UK reigning in their spending, and could be a sign of a further reduction in the spending habits of households anthem months ahead.
Many families in the UK are going to be seeing a further reduction in their income as Tax Credits which the vast majority of working households are able to claim are being reduced and in some cased phased out soon, and that will see many families losing up to £1300 a year or more.
Whilst the UK economy has been recovering very well recently as a Binary Options trader you should always be paying careful attention to any set of data and figures released as that will give you an overall indication of how any country is doing.
On the currency markets GBP has been performing as well as can be expected however whilst we did see some recent highs of one British Pound being worth 1.42 Euros in the last few weeks that currency exchange rate has dropped down to 1.35, and it may been quite a while before they get that high again, subject of course to how the European data figures yet to be released show.
Many Binary Options traders have been waiting for a possible rise in interest rates however it is looking highly unlikely that the Bank of England will raise them before the middle of next year if at all.
Those interest rates are still at just 0.5% and have been held there since 2009. There are however lots of companies based and trading in the UK that are doing exceptionally well, and as such when you are considering just which Binary Options trades to place you are going to have more than enough of them available.
Checkout some of our recently added new Binary Options Brokers we have reviewed throughout this website for many of them are offering new traders some very high valued sign up bonus offer.
