Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, [...]
Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – unexpected declined in April. According to the Cabinet Office, orders were down 3.3% in April on a monthly basis – far lower than forecasts of a 1.2% rise. Analysts say the fall in orders is attributed to [...]
The Office for National Statistics has today revealed UK industrial output fell 1.7% in April – confounding expectations of a 0.1% rise. The fall was attributed to the extra bank holiday for the Royal Wedding and the impact of Japan’s earthquake and tsunami, which disrupted the supply chain. The fall represented the biggest since August [...]
The US trade deficit narrowed sharply in April, figures showed today, due to a record increase in exports. According to the Commerce Department, the trade deficit narrowed to $43.7 billion from March’s figure of $46.8 billion – surprising analysts who had expected a rise to $48.7 billion. Exports rose 1.3% on a monthly basis to [...]
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit narrowed more than expected in April – attributed to a sharp fall in consumer goods. According to the ONS, the global goods trade gap narrowed to £7.38 billion in the month from £7.70 billion in March – lower than the £7.55 billion [...]
Statistics office Destatis has today revealed German exports and imports fell in April, giving a trade surplus of €10.9 billion. According to Destatis, exports fell by 5.5% on a monthly basis to €84.3 billion (£75.6 billion) – much more than analysts had expected and the sharpest decline since January 2009. Meanwhile, imports were 2.5% lower [...]
Australia’s Bureau of Statistics today revealed retail sales recovered in April, hitting a 17-month high. Sales grew 1.1% in April on a monthly basis – the biggest rise since November 2009 and nearly three times more than expected. The figures come just a day after the Bureau revealed the economy contracted in the first quarter [...]
The Bank of England has today revealed mortgage approvals fell in April. According to the Bank, there were 45,166 loans approved in the month – 4% down on March’s figure and 9% lower than in April 2010. Not only was the figure less than expected, it represented the lowest figure for April since records began [...]
According to the Land Registry, house prices rose by 0.8% in April compared with March, putting the average cost of a home at £163,083 in England and Wales. Last month’s rise represented the first since January. On an annual basis, the Registry said prices are 1.3% lower. It must be noted that the Land Registry [...]
Japan’s industrial output recovered slightly last month after a record drop in March due to the earthquake and tsunami. Government figures show factory output rose by 1% in April, however, this was lower than the 2% expected by analysts. Furthermore, it was 14% lower compared with April last year. However, according to analysts, today’s figures [...]
The Commerce Department has today reported a rise in consumer spending in the US for the month of April – due, in part, to higher food and energy costs. Spending grew 0.4% on the month – the tenth consecutive monthly increase but the figure was less than analysts had expected. Consumer spending is closely monitored [...]
Japanese carmakers have been hit as a result of the earthquake and tsunami in March. Figures today revealed Toyota, the world’s largest carmaker, said production plunged 74.5% in April on an annual basis. Meanwhile Honda’s output fell 81% on an annual basis, while Nissan suffered a 48.7% fall as they were forced halt production as [...]
The Commerce Department has today revealed sales of new homes in the US rose for a second consecutive month in April, after diving to a record low in February. According to the Commerce Department, new single-family home sales grew 7.3% on the month to an annual rate of 323,000 units, better than analysts had forecast. [...]
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in April in the UK. According to HMRC, 66,000 homes worth at least £40,000 or more were sold in the month – 1,000 less than the previous month and 6,000 lower than in April 2010. Today’s figures, along with [...]
The Office for National Statistics (ONS) has today revealed UK public sector borrowing was higher than expected last month, due to a decline in tax receipts. According to the ONS, public sector borrowing was £10 billion in April, compared with £7.3 billion last year. Last year’s figure was boosted by £3.5 billion by the tax [...]
The Council of Mortgage Lenders (CML) today reported a fall in mortgage lending for the month of April. According to the Council, mortgage lending fell to £9.8 billion last month, down 14% from £11.4 billion the previous month and 5% lower than the £10.3 billion a year earlier. The CML attributed the fall to the [...]
A report by letting agency network LSL Property Services has revealed tenant demand has risen in recent weeks after April’s long bank holiday weekends and warm weather led to a surge in would-be tenants looking for property. According to the agency, rents grew by 0.8% in April to £692 per month compared with the previous [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp fall in UK car production for the month of April, disrupted by supply shortages, resulting from the Japanese earthquake and tsunami. Japan’s three major carmakers (Toyota, Nissan and Honda) all have operations in the UK, with the latter halving its [...]
The long bank holiday weekends and sunny weather has led to a rise in retail sales for the month of April, according to the Office for National Statistics (ONS) today. The ONS said retail sales grew 1.12% last month due to the late Easter holidays, hot weather and Royal Wedding, with clothing, footwear and food [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of April. The building society’s consumer confidence index dipped to 43 last month, from March’s upwardly revised figure of 45. The index remains just 4 points above February’s all-time low and is way below the index [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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