The Office for National Statistics (ONS) has today revealed UK factory output fell by 0.4% in June after rising by 1.8% in May. The reading surprised economists who had expected a 0.2% rise. Meanwhile, the ONS said out of 13 categories in manufacturing, five increased and eight fell with the biggest falls in transport equipment, [...]
The UK’s Gross Domestic Product (GDP) increased by only 0.2% in the second quarter of 2011, following an increase of 0.5% in the preceding three months. However, the Office for National Statistics (ONS) highlights special events that could have curbed growth, including the additional April bank holiday, the royal wedding and the after effects of [...]
The Office for National Statistics (ONS) has today revealed UK public sector borrowing rose last month. According to the ONS, public sector net borrowing rose to £14 billion last month compared with £13.6 billion June 2010. The figure was higher than analysts’ expectations and was attributed to a fall in income tax receipts. The figure [...]
Early summer sales on the High Street have led to a modest rise in retail sales, the Office for National Statistics (ONS) said today. According to the ONS, like-for-like sales excluding petrol rose 0.8% in May, while they were 0.2% higher on an annual basis due to heavy discounting. The figures were broadly in line [...]
The Office for National Statistics (ONS) has today revealed UK unemployment fell further in the three months to May. The ONS said unemployment fell by 26,000 in the three month period to 2.45 million. The latest figures means the unemployment rate remained flat at 7.7%. However, the number of Britons claiming jobseeker’s allowance (JSA) surged [...]
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit widened in May to £8.48 billion from a revised £7.6 billion in April. The figures surprised economists who had expected the trade gap to narrow to £7.3 billion. Meanwhile, the ONS said exports rose by 4.2% on a monthly basis to £25.4 [...]
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) unexpected fell to annual rate of 4.2% last month from May’s 2½-year high of 4.5%. Analysts had expected the figure to remain at 4.5%. However, the figure remains more than double the target of 2% and has been above this level since December [...]
The Office for National Statistics (ONS) has today revealed UK producer output prices surged in June to their highest level since October 2008. According to the ONS, output prices (factory gate) annual inflation for all manufactured products grew by 5.7% in June – slightly higher than forecasts of a 5.6% rise and the biggest annual [...]
The Office for National Statistics (ONS) has today revealed UK industrial output grew at its fastest rate since March 2010 last month after plunging in April due to the Royal Wedding and the impact of Japan’s earthquake and tsunami, which disrupted the supply chain. April’s fall represented the biggest since August 2009. However, output rose [...]
Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, [...]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.5% in the January to March period – unchanged from the previous two estimates. In the meantime, annual growth was revised down to 1.6% from 1.8%. The growth, albeit slow, expanded primarily due to exports, with net trade contributing 1.4% points [...]
The Office for National Statistics (ONS) has today revealed UK public sector borrowing fell slightly last month. According to the ONS, public sector borrowing fell to £15.15 billion last month compared with £16.46 billion in May last year. The figure was lower than analysts’ expectations of £15.75 billion and was attributed to an increase in [...]
Higher prices at the petrol pumps and economic uncertainty has led to a fall in UK retail sales for the month of May, according to the Office for National Statistics (ONS) today. The ONS said retail sales dived 1.4% last month, reversing the strong rise seen in April due to the late bank holidays, good [...]
The Office for National Statistics (ONS) has today revealed UK unemployment fell further in the three months to April. The ONS said unemployment fell by 88,000 in the three month period to 2.430 million – the biggest fall since August 2000. The latest figures means the unemployment rate remained flat at 7.7%. However, the number [...]
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) held steady at an annual rate of 4.5% in May – the highest level since October 2008. However, the figure was in line with forecasts and high inflation has been attributed to rising energy and food prices. Today’s figures mean inflation continues to [...]
The Office for National Statistics has today revealed UK industrial output fell 1.7% in April – confounding expectations of a 0.1% rise. The fall was attributed to the extra bank holiday for the Royal Wedding and the impact of Japan’s earthquake and tsunami, which disrupted the supply chain. The fall represented the biggest since August [...]
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit narrowed more than expected in April – attributed to a sharp fall in consumer goods. According to the ONS, the global goods trade gap narrowed to £7.38 billion in the month from £7.70 billion in March – lower than the £7.55 billion [...]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.5% in the January to March period – unchanged from the first estimate last month. The figure is in line with market forecasts but is behind Chancellor George Osborne’s forecast of 0.8%. The reading suggests the recovery of the UK economy [...]
The Office for National Statistics (ONS) has today revealed UK public sector borrowing was higher than expected last month, due to a decline in tax receipts. According to the ONS, public sector borrowing was £10 billion in April, compared with £7.3 billion last year. Last year’s figure was boosted by £3.5 billion by the tax [...]
The long bank holiday weekends and sunny weather has led to a rise in retail sales for the month of April, according to the Office for National Statistics (ONS) today. The ONS said retail sales grew 1.12% last month due to the late Easter holidays, hot weather and Royal Wedding, with clothing, footwear and food [...]
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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