The Commerce Department today revealed US retail sales grew at their quickest pace in seven months in September. According to the Department, sales gained 1.1% on a monthly basis – boosted by clothing and car sales. The figures were better than the 0.7% rise expected by analysts. Furthermore, August retail sales were revised up to [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market is suffering due to fears over the economy. However, the Institution said the number of enquiries from potential new buyers increased marginally in the month, with 3% more surveyors reporting a rise rather than a fall. First-time buyers, in particular, [...]
The Munich-based Ifo think tank has today revealed confidence among German firms fell for the third consecutive month in September. The closely-watched Business Climate Index dipped to 107.5 this month from August’s reading of 108.7 – this represented the lowest level since June 2010. However, the fall was not as bad as the 106.5 economists [...]
French President Nicolas Sarkozy and German Chancellor Angela Merkel have pledged to put an end to the debt crisis and restore confidence in the euro. The two leaders of the euro zone’s largest economies last night called for “true economic governance” for the region and wants bi-annual meetings of the 17 leaders of the euro [...]
US homebuilder confidence remained unchanged in August, according to the National Association of Home Builders (NAHB)/Wells Fargo sentiment index. The index showed a reading of 15 in August, unchanged from July’s reading, suggesting the US housing market remains subdued. However, the reading was in line with forecasts. The index, which first commenced more than 25 [...]
A quarterly survey by the British Chambers of Commerce (BCC) revealed that the UK economy was “fragile”. The BCC’s survey for the three months to the end of June showed a slow recovery and estimates that the economy grew by 0.3% in the period – slower than the 0.5% growth in the first quarter. Commenting [...]
A survey of 2,000 individuals, conducted between June 3 and 12, has revealed a fall in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence dipped by 4 points to -25 in June after May’s 10 point rise, which represented the biggest increase since May 1993. The [...]
Greece’s debt crisis continues to knock confidence after an index by the European Commission revealed sentiment fell to 105.1 in June from 105.5 in May – the lowest reading since October 2010. The fall has been attributed to the problems in Greece as EU leaders put together a second bailout package for the crisis-torn economy. [...]
The Munich-based Ifo think tank has revealed confidence among German firms unexpectedly rose in June. The closely-watched Business Climate Index grew to 114.5 in June from May’s reading of 114.2, confounding analysts’ expectations of a fall to 113.4. The index is now close to a record high of 115.4 recorded earlier this year. However, a [...]
Newcastle-based housebuilder Bellway has today said an uplift in consumer confidence has led to a rise in sales. The housebuilder, which is the fifth largest by market value, said it had experienced a sales rate of 111 units per week in the four months to the end of May – 9% higher than the same [...]
The Japanese economy, which is the world’s third largest, has slipped back into recession following the devastating earthquake and tsunami which happened on 11 March. The Cabinet Office has today revealed the economy contracted by 0.9% in the January to March period. The economy has now contracted for two consecutive quarters – meaning it has [...]
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 [...]
The Zew economic sentiment index has revealed German analyst and investor confidence fell for the third consecutive month in May. The index, which measures expectations of economic activity over the next six months, plunged to 3.1 from April’s reading of 7.6 – the figure was worse than forecasts of a drop to 4.5. The latest [...]
The Halifax has today revealed UK house prices plunged by 1.4% in April compared with March, driven by weak consumer confidence in the housing market. The latest house price rise takes the average cost of a UK home to £160,395, the Halifax said. Meanwhile, on an annual basis, prices are 3.7% lower – the biggest [...]
The Zew economic sentiment index has revealed German analyst and investor confidence fell more than forecast in April – the second consecutive monthly drop. The index, which measures expectations of economic activity over the next six months, plunged to 7.6 from 14.1 points in March. Analysts had expected the index to hover around the 10 [...]
According to the New Zealand Institute of Economic Research (NZIER), business sentiment fell between January and March, following the 6.3 magnitude earthquake which hit Christchurch on 22 February. A net 11% of companies surveyed said they were pessimistic about the general business situation in the three month period. This compares with a net 1% showing [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remains weak. However, it appears house price falls are easing. While prices in England and Wales continued to fall last month, it was at the slowest pace since last summer. The Rics revealed 26% more surveyors reported house price falls than [...]
A survey conducted between February 4 and 13 revealed a slight rise in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence rose one point to minus 28 – an improvement on January’s fall which represented the biggest since the last recession in 1992. However, the reading [...]
The Munich-based Ifo think tank today announced confidence among German firms rose in January to another record high. The closely-watched Business Climate Index rose to 110.3 in January, up from 109.8 in December – the eight consecutive monthly increase. It also represented the second straight record high since the country’s reunification in 1990 and slightly [...]
The Zew economic sentiment index has revealed German analyst and investor confidence surged in January. The index, which measures expectations of economic activity over the next six months, jumped to 15.4 points in January, from 4.3 last month. The reading wash much higher than analysts had expected and represented the highest level since July 2010. [...]
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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