Labour has seized on the IFS figures as evidence that Britain was trapped in a 'cost of living crisis'. Photograph: Oli Scarff/Getty Images.
America's recovery slowed in the fourth quarter as sluggish investment and headwinds from overseas offset a rapid acceleration in consumer spending.
... * FTSEurofirst 300 dips but set for best month since Oct '11. * 'Europe on the verge of an upgrade cycle' - Morgan Stanley.
There were a total of 60,275 loan approvals for house purchase in December, compared to the average of 62,652 over the previous six months, according to the Bank of England's latest money and credit statistics.
An Airbus A380 is pictured during the delivery ceremony for Qatar Airways first 10 Airbus A380s at Airbus headquarters in Hamburg-Finkenwerder, September 16, 2014.