The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity bounced back last month. The closely-watched CIPS/Markit manufacturing PMI rose to 51.1 in September from August’s reading of 49.4. Activity has contracted for the last three months and today’s survey means the index has moved back [...]
Official figures today revealed Japan’s exports recovered last month as the economy starts to rebound from the devastating earthquake and tsunami, which hit on 11 March. Exports rose by 5.4% on a monthly basis but were 1.6% lower on an annual basis – but this represented the slowest fall in four months. Analysts had forecast [...]
Statistics office Destatis has today revealed German exports and imports recovered in May, giving a trade balance of €14.8 billion from €10.8 billion the previous month. According to Destatis, exports were 4.3% higher on the month at €92.1 billion (£82 billion), higher than forecasts of a 1.5% rise and recovering from April’s fall of 5.6%. [...]
Japan’s industrial output recovered further last month after a record drop in March due to the earthquake and tsunami. Disruptions caused by the twin disasters resulted in carmakers being forced to halt production as a result of parts shortages. However, it looks as if the situation is improving for manufacturers after output rose at a [...]
Australia’s Bureau of Statistics today revealed retail sales recovered in April, hitting a 17-month high. Sales grew 1.1% in April on a monthly basis – the biggest rise since November 2009 and nearly three times more than expected. The figures come just a day after the Bureau revealed the economy contracted in the first quarter [...]
Japan’s industrial output recovered slightly last month after a record drop in March due to the earthquake and tsunami. Government figures show factory output rose by 1% in April, however, this was lower than the 2% expected by analysts. Furthermore, it was 14% lower compared with April last year. However, according to analysts, today’s figures [...]
Japanese shares rose more than 3% earlier today following some much needed good news. Stock markets were boosted by the news that Japanese carmakers, Toyota and Honda, may restart production this week, while it was revealed that progress is being made in containing radiation leaks. In the aftermath of the earthquake and tsunami on 11 [...]
Last week’s earthquake and tsunami which hit Japan are set to cause “considerable” economic impact as the country faces a massive clean-up operation, a potential nuclear meltdown and power shortages. However, analysts have today said the world’s third largest economy will recover later this year. Over the weekend, the Japanese Government spoke of the 8.9 [...]
The Office for National Statistics (ONS) has today revealed UK manufacturing output bounced back in January after December’s weather related fall. According to the ONS, manufacturing output rose 1% in January – its fastest monthly pace in 10 months. It also beat analysts expectations who forecast a rise of 0.8%. In the meantime, output was [...]
Influential think tank, the National Institute of Economic and Social Research (NIESR), has today suggested the UK economy recovered in January after adverse weather conditions led to a shock contraction in the final quarter of last year. Last month, the Office for National Statistics (ONS) revealed the UK economy contracted by 0.5% in the October [...]
Retail sales recovered in January after the heavy snowfall in December knocked sales. According to the British Retail Consortium (BRC)/KPMG retail sales monitor, like-for-like retail sales grew by 2.3% in January on an annual basis – the best showing since March 2010. Total sales increased 4.2%, up from 1.5% in December. However, the BRC highlights [...]
Growth in the UK’s closely-watched service sector recovered in January – following the surprise contraction in December due to the disruption caused by bad weather. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) grew at its fastest pace in 8 months to 54.5 in January, from December’s 20-month low of 49.7. [...]
The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity recovered last month on the back of better weather. The PMI rose to 53.7 in January, up from December’s 49.1 – which represented the first fall in 10 months due to the severe wintry weather during [...]
Better than expected growth in private sector jobs has been reported in January – according to the Reed Job Index. The Index was established in December 2009 to measure the strength of vacancies by Reed – one of the UK’s largest recruitment agencies. The Index saw a rise of 9 points in January to 113 [...]
The EU statistics office Eurostat has today revealed euro zone industrial output gained 0.7% in October, recovering from a 0.7% decline the previous month. On an annual basis, meanwhile, industrial output grew by 6.9%.However, both figures were less than a monthly increase of 1.3% and an annual increase of 7.6% forecast by economists. On an [...]
Talks of an EU bailout for Ireland triggered a recovery in shares today, while yields on 10-year Irish bonds also fell back on emergency funding speculation. Earlier today, UK and Europe stock markets followed losses in Asia and the US overnight after Irish borrowing costs surged to record highs. However, claims that Ireland will have [...]
The Office for National Statistics (ONS) has today revealed UK manufacturing output grew by 0.3% in July compared with June, recovering from a drop caused by an early start to oil rig maintenance in June. The figures, which were in line with expectations, meant the annual rise stood at 4.9% – the best annual gain [...]
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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