The latest survey from the Institute for Supply Management (ISM) has revealed a rise in US factory output. According to the ISM, the manufacturing activity index rose to 60.8 in January, from December’s 58.5. The reading, which was the highest since May 2004, was better than analysts expected and drove US stocks up to a [...]
Figures today have revealed the euro zone and the US have both enjoyed strong growth in the manufacturing sector. Firstly, the Markit Purchasing Managers’ Index (PMI) for the euro zone posted a reading of 57.1 for December, up from the 55.3 in the previous month. The growth was boosted by the euro zone’s largest economy, [...]
An industry report published yesterday revealed a pick up in US manufacturing activity, due to increasing demand from exports. The Institute for Supply Management (ISM) said its latest index of national factory activity grew to 56.9 in October, from 54.4 the previous month. The reading represented the highest since May and surprised analysts who had [...]
The US Institute for Supply Management (ISM) has offset fears of a double dip recession in America by reporting a rise in its index of factory activity, to 56.3 in August, up from 55.5 in July. A reading in excess of 42%, over a period of time, generally indicates an expansion of the overall economy [...]
Figures released today revealed growth in the US services sector slowed in June and hit its lowest level since February. However, the vast services sector, which makes up around two-thirds of US economic activity, grew for the sixth consecutive month in June. The Institute for Supply Management (ISM) said its service index fell in June [...]
The Institute for Supply Management’s (ISM’s) purchasing managers index (PMI) today revealed the US manufacturing sector expanded for its 10th month in a row in May, albeit at a slower rate. The index dropped to 59.7 points in May, slipping from 60.4 the month before. However, any reading above 50 indicates growth within the sector. [...]
According to the Commerce Department, US consumer spending rose by just 0.2% in December after a 0.7% rise in November. The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was slightly under analysts expectations of a 0.3% gain. For 2009, consumer spending fell 0.4% – [...]
The National Association of Realtors (NAR) said its Pending Home Sales Index rose to 110.1 in September – its eight consecutive monthly rise. The index now stands at the highest level since December 2006 when it was 112.8. The index is 21.2% higher than September last year when it was at the 90.9 mark and [...]
Figures published by the Institute for Supply Management (ISM) have revealed that the US service sector hit the lowest level on record last month. The index fell far more than expected to 37.3 in November from 44.4 the previous month and is the lowest level since the series began in the 1997. The US service [...]
Latest figures show that British manufacturing shrank at a record pace in November. The Purchasing Managers’ Index fell to 34.4 in November, compared to 40.7 in October, the lowest level and the biggest fall experienced since the index began in 1992. Rob Dobson, senior economist at Markit which collects the data together with the CIPS, [...]
The price of oil fell to $59.32 a barrel in early trading today, the lowest point since February 2007, amid growing concerns that a US recession will reduce demand. Oil prices reached a high of $147 a barrel in mid-July. Last week, Opec said it would cut its output by 1.5m barrels a day to [...]
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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