News that the UK’s service sector grew more than expected last month has generated optimism that the economy could avoid falling back into recession. The Markit/CIPS Purchasing Managers Index (PMI) for the service industry increased to 55.3 in March, from 53.8 in February, with a reading of above 50 representing growth. Growth in the service [...]
Manufacturing activity in China eased further last month, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) fell to 50.7 last month from June’s reading of 50.9. Secondly, the HSBC China Manufacturing PMI also suggested activity is slowing with the index falling [...]
Manufacturing activity in China eased last month, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) fell to 50.9 in June from May’s reading of 52 – the lowest level since February 2009. The reading was also lower than expectations of a [...]
Manufacturing activity in China eased last month, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) dipped to 52 in May from 52.9 in April. While the reading was better than expectations of 51.6, it represented the lowest for nine months. Secondly, [...]
Manufacturing activity in China appears to have improved in March, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) rose to 53.8 in March from February’s six-month low of 52.2. Secondly, the HSBC China Manufacturing PMI edged higher to 51.8 in March [...]
Manufacturing activity in China eased in February, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) dipped to 52.2 in February from January’s 52.9. According to the CFLP, this was the third consecutive month in which activity fell. However, the index remains [...]
Manufacturing activity in China remained strong in January, two separate surveys have revealed. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) dipped to 52.9 in January, from 53.9 the previous month. Secondly, the HSBC China Manufacturing PMI edged higher to 54.5 in January, from 54.4 in December. [...]
A survey has revealed Europe’s powerhouse, Germany, continue to leads the recovery after the economy’s services sector rose to a 55-month high. Early findings from the business survey, Markit’s Flash Purchasing Managers’ Index for the 17-member nation rose to 55.2 in January from 54.2 in December, beating forecasts of a 54.3 reading. The index remains [...]
Growth in the UK’s closely-watched service sector contracted in December – suggesting a sharp slowdown in economic growth in the final quarter of 2010. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 49.7 in December, down from the reading of 53.0 in November. Not only did the sector endure [...]
Manufacturing activity in China slowed in December, two separate surveys have revealed. Firstly, the China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) fell to 53.9 in December, from 55.2 the previous month. It was the first time in five months that the index had fallen. However, the index remains above [...]
Official figures revealed Scotland’s manufacturing sector grew in November at its fastest rate since August. The rise was attributed to a strong rise in new export orders for Scottish manufacturers, the Bank of Scotland’s Purchasing Managers’ Index (PMI) revealed today, boosted by demand from China and the US. The Bank of Scotland’s chief economist, Donald [...]
Figures today have revealed growth in the euro zone’s service sector slowed last month, as growth in new orders remained weak. The Markit euro zone Services Purchasing Managers’ Index (PMI), fell to an 8-month low last month of 53.3, down from 54.1 in September. However, analysts had expected the index to fall to 53.2 but [...]
Manufacturing activity in China improved in September, two separate surveys showed today. Firstly, the HSBC China Manufacturing purchasing managers index (PMI) edged higher to 52.9 in September, from 51.9 in August, due to growth in production and new orders. In the meantime, a separate survey released by the China Federation of Logistics and Purchasing (CFLP) [...]
The Institute for Supply Management’s (ISM’s) purchasing managers index (PMI) today revealed the US manufacturing sector expanded for the 12th month in a row in July. The growth was better than the 54.2 analysts had forecast with the index dipping to 55.5 in July from 56.2 the previous month. However, while any reading above 50 [...]
There is further evidence today that China’s economy is cooling after two official independent surveys revealed a slowdown in manufacturing activity. Firstly, the HSBC China Manufacturing purchasing managers index (PMI), fell to 49.4 in July from 50.4 in June. As a result, manufacturing contracted for the first time in 16 months as any reading below [...]
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. [...]
Surveys by the Chinese Government and HSBC have today revealed China’s manufacturing activity continued to grow in February, albeit at a slower pace. The HSBC China Manufacturing purchasing managers’ index (PMI) dipped to 55.8 in February from 57.4 the previous month. However, a reading above the crucial 50 mark means the sector is expanding. In [...]
The Chartered Institute of Planning & Supply(CIPS)/Markit purchasing managers index revealed a marginal rise in UK construction activity to 47.0 in November, from 46.2 in October. Any figure below the 50 mark represents a contraction but November’s reading represents the highest since August as the rate of decline slows and new order volumes saw an [...]
The Chartered Institute of Purchasing & Supply’s Purchasing Managers’ Index has posted a reading of 56.9 on services activity in October, up from 55.3 in September. The reading of 56.9 was the highest since August 2007 and beat analysts expectations of 55.5. Furthermore, October’s reading represented the sixth consecutive month the sector has shown an [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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