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Wednesday 04th of May 2011

News Tag: closely-watched

April 26, 2011

US house prices fall for eighth consecutive month

by Kay Murchie
US house prices fall for eighth consecutive month
The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas fell in February – the eighth consecutive monthly decline. According to the index, house prices were 0.2% lower in February on a monthly basis, falling to their lowest level since the 2009 recession. The S&P;/Case-Shiller index for 20 main US cities fell by 3.3% on an annual basis. Commenting on the index, ...



April 5, 2011

UK service sector activity hits 13-month high in March

by Kay Murchie
”UK
Growth in the UK’s closely-watched service sector surged ahead in March, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) rose to a 13-month high of 57.1 last month - from February’s reading of 52.6. Analysts had expected the index to remain broadly unchanged. The reading means the index remains above the crucial 50 ...



March 3, 2011

UK service sector activity slows in February

by Kay Murchie
”UK
Growth in the UK’s closely-watched service sector slowed in February, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 52.6 in February from January’s eight month high of 54.5. Analysts had expected the index to hit a level of 54.0 in February. December saw a negative reading, which was attributed to the bad ...



February 9, 2011

Japanese consumer confidence up in January

by Kay Murchie
”Japanese
Japanese consumer confidence grew for the first time in seven months in January, the Cabinet Office said today. The closely-watched consumer sentiment index climbed to 41.1 in January, from 40.1 in December. The figures suggest consumers are now more optimistic about the economic prospects after all four sub-indices of the sentiment index saw an improvement in January. The employment index gained 2.2 ...



November 24, 2010

German business confidence sees record rise

by Kay Murchie
”German
The Munich-based Ifo think tank today announced confidence among German firms grew in November. The Business Climate Index rose to 109.3 in November, up from 107.7 the previous month – the strongest rise since German reunification in 1990. The closely-watched index also confounded expectations of a fall to 107.5. Meanwhile, commenting on the figures, the Ifo institute said: “The upswing in the ...



November 4, 2010

Chancellor Osborne sets date for 2011 Budget

by Kay Murchie
”Chancellor
Chancellor George Osborne has today announced the 2011 budget will take place on 23 March. This budget, in particular, which be closely watched to see if the Government is on target with its tough spending cuts. The new Coalition Government has scrapped the autumn pre-budget report and is making the March budget the key economic report. The announcement comes just a matter ...



October 17, 2010

US retail sales grow 0.6% in September

by Kay Murchie
”US
The Commerce Department has revealed US retail sales grew 0.6% in September - this followed an increase of 0.7% in August and exceeded expectations. The rise, which was the third consecutive monthly gain, was fuelled by an increase in car sales. Retail sales figures are closely watched because consumer spending accounts for approximately two-thirds of economic output in the US. Meanwhile, car ...



June 30, 2010

ONS apologises for delay of UK GDP data

by Kay Murchie
”ONS
The Office for National Statistics (ONS) has announced the third and final estimate of the UK’s first quarter GDP figures will be delayed, due to a "potential error". According to the ONS, the unusual move was caused by concerns over the reliability of some of the data. Gross Domestic Product (GDP), a key measure of economic growth, is closely watched by ...



June 28, 2010

US consumer spending creeps up 0.2% in May

by Kay Murchie
”US
According to the Commerce Department, consumer spending in the US rose to an eight-month high in May, by 0.2% on month, suggesting the recovery is still on course. The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, slightly exceeded expectations of a 0.1% rise. The news sent the Dow Jones industrial ...



May 6, 2010

UK services sector activity hit by volcanic ash cloud

by Kay Murchie
”UK
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 April, down from 56.5 the ...



February 1, 2010

UK manufacturing activity grows at fastest rate for 15 years

by Kay Murchie
”UK
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity rose at its fastest rate in 15 years in January. The figures will boost hopes that the economic recovery is gathering pace after last week’s disappointing fourth quarter GDP figures. The PMI grew to 56.7 in January, up from a revised 54.6 the previous month. The ...