Tag: fall

UK manufacturing activity contracts in October

UK manufacturing activity contracts in October

The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity contracted last month. The closely-watched CIPS/Markit manufacturing PMI sank to 47.4 in October from September’s reading of 50.8. Today’s survey means the index has fallen below the crucial 50 mark – which separates growth from expansion. [...]

Mortgage approvals fall, house sales down

Mortgage approvals fall, house sales down

The Bank of England has today revealed mortgage approvals fell in September for the first time in six months. According to the Bank, there were 50,967 loans approved in the month – down 3% on August’s figure. However, September’s figure was broadly in line with forecasts and suggests the UK mortgage market will remain subdued [...]

Occupational pension contributions fall to 54-year low

Occupational pension contributions fall to 54-year low

According to a report by the Office for National Statistics (ONS), the number of people paying into an occupational pension has slumped to a level not seen since 1956. Last year, there were 8.3 million people contributing to an occupational pension (3 million in the private sector and 5.3 million in the public sector). This [...]

US consumer confidence slumps in October

US consumer confidence slumps in October

US consumer confidence slumped in October, the Conference Board has reported. The closely-monitored Consumer Confidence Index from the Conference Board dived to 39.8 this month from September’s reading of 46.4. Not only was the reading less than forecasts of a level of 46.0, it was the lowest since March 2009, when the US was in [...]

Nationwide: UK consumer confidence slips further in September

Nationwide: UK consumer confidence slips further in September

The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of September. The building society’s consumer confidence index fell for the fourth consecutive month, falling by 3 points to 45 in September – hovering dangerously close to the all-time low of 41. Furthermore, it is 10 [...]

Euro debt crisis impacts on Goldman Sachs Q3 results

Euro debt crisis impacts on Goldman Sachs Q3 results

US banking giant Goldman Sachs has today reported a fall in third quarter profits. Goldman Sachs, which is the US’ largest investment bank, made a net loss of $393 million (£250 million) for the third quarter compared with profits of $1.9 billion a year earlier. The bank said trading was “significantly impacted” by the euro [...]

Weak UK factory output suggests poor start to Q3

Weak UK factory output suggests poor start to Q3

The Office for National Statistics (ONS) has today revealed UK factory output fell 0.3% in August on a monthly basis. The reading was worse than economists had expected and confirm weak prospects for the economy after the figures suggest a poor start to the third quarter. On an annual basis, meanwhile, factory output was 1.5% [...]

Rics: Economic fears hit housing market confidence

Rics: Economic fears hit housing market confidence

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, [...]

Halifax reports 0.5% fall in September house prices

Halifax reports 0.5% fall in September house prices

The Halifax has today revealed UK house prices fell by 0.5% in September on a monthly basis and follows a 1.2% fall in August. The latest fall takes the average cost of a UK home to £161,132, the Halifax said. On an annual basis, meanwhile, prices are 2.3% lower, said the lender, which is now [...]

German unemployment hits lowest level in 20 years

German unemployment hits lowest level in 20 years

Official data has revealed unemployment in Germany dropped to its lowest level in more than 20 years in September. The country’s unemployment rate fell from August’s rate of 7% to 6.6%. Unemployment now stands at 2.79 million – the first time since 1992 that the jobless total has been below 2.8 million. It was also [...]

Land Registry reports 0.3% fall in August house prices

Land Registry reports 0.3% fall in August house prices

According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles [...]

Price of gold extends losses

Price of gold extends losses

The price of spot gold fell further today – to a 2½-month low of $1,624 – after reaching a record high of $1,920.94 a troy ounce earlier this month. This represents the sharpest drop since March 2009 – in the aftermath of the collapse of US bank, Lehman Brothers. Gold is now down 9% from [...]

US new home sales fall in August

US new home sales fall in August

The Commerce Department has revealed sales of new homes in the US fell to a six-month low in August, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell 2.3% in August to a seasonally adjusted annual rate of 295,000 units – the lowest level since February. The figure [...]

Ifo: German business confidence falls for third straight month

Ifo: German business confidence falls for third straight month

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 [...]

HMRC: House sales weak in August

HMRC: House sales weak in August

HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in August in the UK. According to HMRC, 78,000 homes worth at least £40,000 or more were sold in the month – 6,000 less than the previous month and 3,000 lower than in August 2010. However, August is traditionally [...]

German analyst and investor confidence down in September

German analyst and investor confidence down in September

The Zew economic sentiment index has revealed German analyst and investor confidence fell to a 2½ year low in September as the ongoing euro zone debt crisis and fears of a global slowdown dampened sentiment. The index, which measures expectations of economic activity over the next six months, fell for the seventh consecutive month to [...]

ONS: UK retail sales fall 0.2% in August

ONS: UK retail sales fall 0.2% in August

The Office for National Statistics (ONS) has today revealed UK retail sales fell by 0.2% in August after riots earlier in the month affected trade. The fall followed slower growth in the previous two months after sales rose just 0.2% in July and 0.8% in June. In the meantime, food sales were also down – [...]

Comet sales fall sharply

Comet sales fall sharply

Figures today show consumers continue to cutback in the face of higher inflation and rising unemployment after Kesa, the parent company of electrical retailer Comet, revealed a sharp fall in sales. Total revenue in the previous three months fell by 9.8% on a like-for-like basis while sales slumped almost 22% after the company blamed weak [...]

Rics: Housing market remains in the doldrums

Rics: Housing market remains in the doldrums

The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]

Argos and Homebase sales down, Morrisons sales higher

Argos and Homebase sales down, Morrisons sales higher

There is a mixed bag of retail sales figures today after Home Retail Group announced a drop in sales at both its Argos and Homebase chains. The figures are further evidence of a cutback in consumer spending after electrical goods group, Dixons Retail, yesterday posted a fall in sales. At Argos, like-for-like sales in the [...]