The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity contracted unexpectedly in December. The Purchasing Managers’ Index slumped to 49.1 in December, from 51.8 in November – the first fall since February last year and surprised analysts. The latest figures mean the index is now [...]
The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity surged at a record pace in December. The closely-watched CIPS/Markit manufacturing PMI rose to 58.3 in December from November’s revised reading of 57.5. Not only was the reading the highest since September 1994, it confounded analysts [...]
Growth in the UK’s closely-watched service sector eased slightly in November but still remained near October’s four-month high. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI fell to 53 in November, down slightly from the 53.2 recorded in October. However, the reading was in line with expectations and the index [...]
The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index revealed activity improved in November. The Purchasing Managers’ Index rose to 51.8 in November from 51.6 the previous month and surprised analysts who had expected a fall to 51. The index remains above the crucial 50 level, which indicates expansion. Activity in the commercial and [...]
The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index revealed activity slowed in October. The index fell from 53.8 in September to 51.6 last month – confounding expectations of a more modest fall to 53. However, the index remains above the crucial 50 level, which indicates expansion. The figures suggest, though, that construction will [...]
The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity unexpectedly grew in October. The closely-watched CIPS/Markit manufacturing PMI rose to 54.9 in October from 53.5 the previous month. Not only was the reading the highest since July, it surprised economists who had expected a fall [...]
Growth in the UK’s closely-watched service sector picked up in September from a 16-month low. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI climbed to 52.8 in September, from 51.3 the previous month, beating expectations of a reading of 51. However, the index remains above the crucial 50 level, which [...]
Growth in the UK’s closely-watched service sector slowed further in July – by the slowest rate in 13 months. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 53.1 in July, dipping from 54.4 in June. Not only did this represent the lowest level since June last [...]
The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index showed activity slowed considerably last month to a four-month low. The index slumped to 54.1 in July from 58.4 in June – suggesting the sector may have peaked. However, the index is still above the crucial 50 level, which indicates the sector is growing. “The [...]
Growth in the UK’s closely-watched service sector slowed in June and hit its lowest level in 10 months. The latest index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 54.4 in June, down from 55.4 in May. Not only did this represent the lowest level since August last year, [...]
The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index for June remained at around the same pace as May. The index dipped to 58.4 in June from 58.5 in May – albeit this still represented the highest level since September 2007. Furthermore, the index is still above the crucial 50 level, which indicates the [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity slowed from its 15-year high in June. The closely-watched CIPS/Markit manufacturing PMI dipped from 58 in May to 57.5 in June. The dip suggests the sector’s recovery may have peaked but it is still above the crucial 50 mark, which represents growth, [...]
Activity in the UK’s closely-watched service sector slowed in April, hit by the volcanic ash cloud which disrupted businesses. Furthermore, activity was hit by concerns about the outcome of the general election, according to analysts. The latest activity index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 55.3 in [...]
The key services sector slowed in January as a result of bad weather and the VAT rise, according to analysts. The latest activity index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 54.5 in January from the 56.8 in December – however, any reading above 50 indicates growth. The [...]
The key services sector reported growth during December according to the latest activity index from the Chartered Institute of Purchasing and Supply (CIPS). The index showed a reading of 56.8 in December, up from 56.6 in November – any reading above 50 indicates growth. Not only was the figure slightly above economists’ forecasts, it was [...]
A survey has revealed that a sharp rise in new orders has led to a rise in manufacturing activity in December. According to the closely-watched CIPS/Markit purchasing managers’ index (PMI), factory activity grew at its fastest pace in more than two years with the index rising to 54.1 in December, up from 51.8 the previous [...]
The Chartered Institute of Planning & Supply(CIPS)/Markit purchasing managers index revealed a marginal rise in UK construction activity to 47.0 in November, from 46.2 in October. Any figure below the 50 mark represents a contraction but November’s reading represents the highest since August as the rate of decline slows and new order volumes saw an [...]
UK manufacturing activity unexpectedly slowed in November with the Chartered Institute of Purchasing & Supply (CIPS) index falling from a revised 53.4 in October to 51.8 in November. Growth in new orders eased sharply from 58 in October to 53 in November. However, while any reading above 50 in the index indicates growth, the figures [...]
The Chartered Institute of Planning & Supply(CIPS)/Markit purchasing managers index fell to 46.2 in October, from 46.7 in September, marking the 20th consecutive month of falls due to a slump in demand for commercial and civil engineering work. Meanwhile, job cuts in the sector also increased at the fastest rate in four months, while input [...]
The Chartered Institute of Purchasing & Supply (CIPS)/Markit purchasing managers index of manufacturing activity grew to 53.7 in October, up from the revised reading of 49.9 the previous month. The reading beat forecasts of a rise to 50.0 and represented the fastest pace of growth in two years. Furthermore, new orders rose at their fastest [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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