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 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 [...]
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, [...]
Japanese carmakers have been hit as a result of the earthquake and tsunami in March. Figures today revealed Toyota, the world’s largest carmaker, said production plunged 74.5% in April on an annual basis. Meanwhile Honda’s output fell 81% on an annual basis, while Nissan suffered a 48.7% fall as they were forced halt production as [...]
The Office for National Statistics (ONS) has revealed UK producer output (factory gate) prices increased 0.9% on a monthly basis in March, taking the annual rate to 5.4% – the highest since October 2008 and the sixth monthly gain. Analysts had expected a fall to 5.1% and the news lifted the value of sterling briefly. [...]
The Office for National Statistics (ONS) today revealed UK producer output prices increased 0.5% on a monthly basis in February, taking the annual rate to 5.3% – the highest since October 2008 and the fifth monthly gain. Meanwhile, producer input prices for February were 14.6% higher on an annual basis – also the highest rate [...]
A survey by the Engineering Employers’ Federation (EEF), the manufacturers’ trade body, has revealed manufacturing output eased at the start of 2011, however, firms are optimistic about this year‘s prospects. The survey revealed a balance of 25% of firms reported an increase in output in the first quarter, down from 33% in the previous quarter. [...]
The Office for National Statistics (ONS) today revealed producer output prices increased 4.8% on an annual basis in January – higher than expectations of a 4.4% gain. Meanwhile, producer input prices for January were 13.4% higher on an annual basis – the biggest rise in more than two years. It was also higher than forecasts [...]
Oil giant Royal Dutch Shell has today reported an almost doubling in profits for the 2010 year. The Anglo-Dutch firm, which is Britain’s second largest oil company, said profits soared 90% to $18.6 billion (£11.5 billion) compared with $9.8 billion in 2009. The rise was attributed to higher oil prices and rising output. Production levels [...]
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 [...]
The Office for National Statistics (ONS) today revealed producer output prices increased 0.5% in November on the month, after October’s 0.4%. The forecast was for a rise of 0.4% and takes the annual rate to 4.2%. According to RBS economist Ross Walker, it will make “uncomfortable” reading for the Bank of England and will raise [...]
Japan’s industrial production rose in November for the first time in six months, increasing by 1% on the previous month, boosted by higher car production. The rise was also attributed to Government incentive programmes and will undoubtedly ease concerns about the recovery of the world’s third largest economy. The figures, published by the Ministry of [...]
A survey by the Engineering Employers’ Federation (EEF), the manufacturers’ trade body, has revealed manufacturing output continues to operate at record levels, however, they are cautious about next year‘s prospects. The survey revealed a balance of 33% of firms reported an increase in output in the fourth quarter, unchanged from the previous quarter – which [...]
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 [...]
The Office for National Statistics (ONS) today revealed producer input prices increased 0.7% in September compared with August, pushing the annual rate to 9.5%, from 8.7% the previous month. The figure was much higher than forecasts of a 0.4% monthly rise and an annual rate of 8.6%. Meanwhile, annual output price inflation slowed less than [...]
Figures today revealed a surprise rise in Japan’s unemployment rate. The Ministry of Internal Affairs and Communications said unemployment edged higher from 5.1% in April to 5.2% in May. Analysts had expected a fall to 5%. However, the availability of jobs in the world’s second largest economy improved. The jobs-to-applicants ratio grew from 0.48 in [...]
The Office for National Statistics (ONS) today revealed UK manufacturing output unexpectedly fell in April, raising fears about the strength of the economic recovery. According to the ONS, output fell by 0.4% in April compared with March – far below analysts expectations of a 0.5% rise and follows a rise of 2.2% in March. The [...]
The UK’s recovery from recession was at a snail’s pace in the first quarter of 2010, with GDP growing by an estimated 0.2%, or just half analysts’ expectations of 0.4%. According to the Office for National Statistics, progress was also half that made in the final quarter of 2009, when output increased by 0.4% once [...]
A survey among UK companies has found that confidence has surged to a level not since the summer of 2006. BDO’s Business Trends index, which covered 11,000 companies from a range of industries, rose to 103.2 in March from 99.4 – the highest in almost four years. In addition, the output index grew to 102 [...]
Figures published by the Federal Reserve today revealed a marginal rise in US industrial production in February. According to the US central bank, industrial output rose by just 0.1% in the month and followed a 0.9% increase in January. However, the small rise was better than the zero percent that analysts had forecast after severe [...]
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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