News Tag: second quarter
September 16, 2009
New research from the Financial Services Authority (FSA) puts the number of homes in repossession in the three months to the end of June at 13,610, representing a 9% fall on the previous quarter.
However, the figure is 23% up on the same period of 2008, although the regulator says the sharp rise in repossessions seen in 2008 has showed signs of ...
Repossessions and new mortgage arrears fall
by Gill Montia
September 11, 2009
Brazil has followed Japan, Germany, France and Hong Kong by exiting recession after experiencing positive growth in the second quarter.
The economy, which is the largest in Latin America, grew by 1.9% in the April to June quarter compared with the previous three months. The growth was better than analysts had expected.
The second quarter growth means that Brazil's recession was short-lived - amounting ...
Brazil emerges from recession
by Kay Murchie
September 2, 2009
Official figures have revealed that the Australian economy exceeded expectations in the April to June period by experiencing growth of 0.6% compared with the previous quarter.
Analysts had only forecast growth of 0.2% after a severe fall was reported in export prices yesterday, Export prices in quarter two plummeted by 15.8% - the largest drop since records began ...
Australia continues to avoid recession as GDP exceeds analysts forecasts
by Kay Murchie
August 28, 2009
The Office for National Statistics (ONS) has today revealed some positive news for the UK economy after GDP contracted by 0.7% in the April to June period - rather than the 0.8% previously reported.
The 0.7% fall is also a considerable improvement on the 2.4% contraction in the January March quarter.
Meanwhile, the year on year fall has been revised from 5.6% ...
UK economy growth figures revised upwards
by Kay Murchie
August 27, 2009
The Commerce Department has today revealed that the US economy contracted at an annual rate of 1% during the second quarter - unchanged from an initial estimate released in July, and better than market expectations for a 1.5% contraction.
The data is almost certain to back up the fact that the economy is starting to recover after its worst ...
Commerce Dept reveals official Q2 GDP figures for US
by Kay Murchie
August 26, 2009
Mortgage lending activity in Scotland has begun to stabilise, the Council of Mortgage Lenders (CML) reports.
In the second quarter of 2009 there were 11,400 house purchase loans taken out across the region, a 50% rise from 7,600 during the previous three months, but nevertheless 39% below the figure for a year earlier.
The increase was spread evenly across first-time buyers and ...
Mortgage lending picks up for Scotland
by Gill Montia
August 16, 2009
Japan is set to release GDP figures tomorrow with analysts predicting growth of 1% during the April to June period.
After four consecutive quarter-on-quarter contractions, positive growth would mean the recession is over in Japan.
Last week, figures revealed that Hong Kong had emerged from recession after the economy grew 3.3% in the second quarter.
Furthermore, it followed the news that Singapore, France ...
Japan could be emerging from recession
by Kay Murchie
August 14, 2009
Following the news that Germany and France had emerged from recession yesterday after experiencing economic growth during the second quarter of 2009, it has now been revealed that the euro zone continued to contract.
Figures from Eurostat revealed that Gross Domestic Product (GDP) in the 16-member nation was down by 0.1% in the April to June period, compared with the ...
Euro zone economy down 0.1% in second quarter
by Kay Murchie
August 11, 2009
Figures released today by the Department of Labor revealed that US productivity rose at its fastest annual pace since the third quarter of 2003.
Productivity rose at 6.4% in the second quarter of 2009, up from a revised 0.3% rise in the January to March quarter - productivity for the first quarter was previously reported as a 1.6% ...
US productivity rises at fastest pace for six years
by Kay Murchie
August 7, 2009
The Insolvency Service has today revealed the impact of the recession after the number of people being declared insolvent in England and Wales hit a record high.
According to the figures, a record 33,073 people in England and Wales were declared insolvent in the second quarter of 2009.
This represents a rise of 9% compared with the first quarter of 2009 and 27.4% ...
Personal insolvencies soar to record high
by Kay Murchie
August 4, 2009
UBS, which is Switzerland’s largest, bank, has reported a second quarter loss of SwFr1.4 billion (£790 million).
However, the loss is marginally better than the first quarter loss of SwFr1.98 billion (£1.2 billion).
The Swiss banking giant said it remained cautious about its prospects, in view of the challenging environment.
UBS is among one of the worst hit victims of the sub-prime crisis due to ...
Further hefty loss for UBS
by Kay Murchie
July 24, 2009
Official figures have today revealed that the UK economy shrank more than expected in the three months to June.
Today's figures, which are preliminary estimates and could be revised up or down in the next few months, show that the economy contracted 0.8% between April and June - economists had expected a fall of 0.3%.
On an annual basis, the rate of decline ...
UK economy contracts more than expected
by Kay Murchie
July 17, 2009
Profits at Nokia slid 66% in the second quarter on a 24% drop in net sales.
Profit for the three months ending 30 June was €380 million (£330 million) on sales of €9.91 billion.
The Finnish mobile phone maker remains optimistic despite the result, pointing out that on a quarter-by-quarter basis, profits increased 7% and sales were up 50%.
Market share for the world leader fell ...
Nokia profits slump 66%
by David Masters
July 10, 2009
Key Retirement Solutions has updated the equity release market with its latest monitor, showing that volumes are down for the second consecutive quarter.
In the three months to the end of June, the number of new plans sold fell an annual 24% to 5,143.
Furthermore, the property market downturn meant that the value of new lending plummeted 41%, from £319 million in the second ...
Equity release values plummet 41%
by Gill Montia
October 3, 2008
Homeowning Britons have stopped using their properties as banks, according to figures from the Bank of England.
For the first time since 1998, consumers have become more focused on paying off their mortgages rather than remortgaging to fund their lifestyles, or consolidate debts.
In the three months to the end of June, the UK's mortgage borrowers increased the amount of equity held in ...
Britons stop using houses as banks
by Gill Montia
July 21, 2008
Safe Home Income Plans (SHIP), the body that fosters good practice in the UK's equity release market, has reported a rise in demand for such loans during the second quarter of this year.
According to SHIP, homeowners availed themselves of £257.7 million in the three months to the end of June, representing a 14% rise on the amount withdrawn during the pervious three ...
Equity release approvals rise 14%
by Gill Montia
