UK Housing Market and Retail Show Signs of Strength Despite Slowing Economy
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Mortgage approvals rose to 50,100 in November, the highest since June, signaling a pickup in the UK housing market.
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Credit card borrowing doubled to £1bn in November, pushing total consumer credit borrowing to a near 7-year high of £2bn.
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Next upgraded its profit forecast for the 5th time in 7 months after Christmas sales rose 10%, beating expectations.
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JD Sports shares plunged over 20% on a profit warning due to mild weather and heavy discounting hurting sales.
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Business activity in the eurozone shrank in December, pointing to a technical recession following the contraction in Q3 2022.