The Commerce Department has revealed a rise in US retail sales for the month of July. Sales grew 0.5% last month – the best reading since March and follows June’s upwardly revised figure of a 0.3% rise. The rise, which was better than forecasts of a 0.2% gain, was partly attributed to strong demand for [...]
The Commerce Department has today revealed the US economy grew by an annualised 1.9% in the January to March period – marginally higher than the previous estimate of 1.8%. On a quarterly basis, growth was up 0.58%. Today’s reading is the third and final for first quarter growth. Stubbornly high unemployment and a depressed housing [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of November. The building society’s consumer confidence index plunged 7 points to 45 in November – this represents the lowest reading since March 2009 – when the UK was in the midst of recession. According to [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity grew at its fastest rate since October 1994 in March. The closely-watched CIPS/Markit manufacturing PMI climbed to 57.2 in March from 56.5 the previous month. The index has exceeded the crucial 50 mark, which represents growth, since July 2009 and March’s figure [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity grew faster than expected in February – sustaining the previous month’s 15-year high rate of growth. The positive figures will boost hopes that the economic recovery is gathering pace after last week’s fourth quarter GDP figures were revised upwards. Last week, the [...]
The Chartered Institute of Purchasing & Supply (CIPS)/Markit purchasing managers index of manufacturing activity grew to 53.7 in October, up from the revised reading of 49.9 the previous month. The reading beat forecasts of a rise to 50.0 and represented the fastest pace of growth in two years. Furthermore, new orders rose at their fastest [...]
There is some good news for the economy today after a rise has been reported in manufacturing activity. For the first time in almost 18 months, there was a growth in activity, benefiting unexpectedly from an influx of new orders – the fastest since November 2007. The headline manufacturing purchasing managers’ index (PMI) rose from [...]
The Zew economic sentiment index has revealed German analyst and investor confidence fell in July for the first time since October 2008. The index, which measures expectations of economic activity over the next six months, fell from 44.8 in June to 39.5 in July. According to Zew, respondents had expressed concern over whether lending 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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