Tag: weak

Rics: Housing market remains in the doldrums

Rics: Housing market remains in the doldrums

The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]

September 13, 2011 | 0 Comments More
CML: Mortgage lending edges higher in July

CML: Mortgage lending edges higher in July

The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]

September 13, 2011 | 0 Comments More
German exports lower than expected in July

German exports lower than expected in July

Statistics office Destatis has today revealed German exports and imports fell in July – more than expected. According to Destatis, exports fell by 1.8% in July on a monthly basis compared with a 1.2% drop in June. Economists had forecast a 0.1% fall for the month. The sharp fall in exports will be of grave [...]

September 8, 2011 | 0 Comments More
Chancellor Osborne admits economy is weak

Chancellor Osborne admits economy is weak

At a speech at the insurers Lloyd’s of London, Chancellor George Osborne has admitted that recent weak economic data had led to a downgrade in growth. Speaking at the dinner in London, the Chancellor said: “We warned repeatedly that the recovery would be choppy.” However, despite the sluggish economic recovery, the Government is sticking with [...]

September 7, 2011 | 1 Comment More
BRC: UK retail sales weak in August

BRC: UK retail sales weak in August

The British Retail Consortium (BRC) has today reported weak retail sales for August. According to the BRC, like-for-like sales (which exclude the impact of sales at new stores) fell 0.6% last month on an annual basis. Overall sales rose 1.5%, however, this was much lower than the 2.8% rise noted in August 2010. Commenting, Stephen [...]

September 6, 2011 | 0 Comments More
ONS: UK retail sales grow just 0.2% in July

ONS: UK retail sales grow just 0.2% in July

The Office for National Statistics (ONS) has today revealed UK retail sales grew by just 0.2% last month – slightly less than the 0.3% expected by analysts. The slight gain was much slower than the 0.8% increase the previous month as households continue to be squeezed by higher inflation, rising unemployment and sluggish wage growth. [...]

August 18, 2011 | 0 Comments More
Rics: Housing market remains weak in July

Rics: Housing market remains weak in July

The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in July with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]

August 9, 2011 | 0 Comments More
US economic growth slower in Q2

US economic growth slower in Q2

The Commerce Department has today revealed the world’s largest economy grew by 1.3% on an annual basis in the April to June period. The figure was far short of expectations of a reading of 1.8%. However, today’s reading is the first estimate and could be revised up or down in the coming months. Meanwhile, first [...]

July 29, 2011 | 0 Comments More
US new home sales fall in June

US new home sales fall in June

The Commerce Department has revealed sales of new homes in the US fell in June, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell by 1% in June on a monthly basis to an annual rate of 312,000 units – lower than expectations of 325,000 units. Meanwhile, the [...]

July 27, 2011 | 0 Comments More
Rics: Housing market remains in the doldrums

Rics: Housing market remains in the doldrums

The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in June with house prices falling more than expected. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers remain uncertain about the economic climate. These factors, together with the ongoing mortgage [...]

July 12, 2011 | 0 Comments More
BoE reveals housing equity injection slows

BoE reveals housing equity injection slows

According to figures from the Bank of England, Britons increased their financial stake in their homes by £5.8 billion in the first quarter of 2011 – the smallest injection in a year. The figure was much lower than the £7.1 billion in the October to December period in 2010 – which represented the highest since [...]

July 4, 2011 | 0 Comments More
Nationwide: House prices unchanged in June

Nationwide: House prices unchanged in June

The latest house price index from the Nationwide Building Society has revealed house prices remained unchanged in June after a 0.3% rise in May – in line with expectations. On an annual basis, house prices are now 1.1% lower than this time last year with the average UK home costing £167,208. The housing market remains [...]

June 30, 2011 | 0 Comments More
BoE: Mortgage approvals remain weak in May

BoE: Mortgage approvals remain weak in May

The Bank of England has today revealed mortgage approvals remained weak in May. According to the Bank, there were 45,940 loans approved in the month – slightly higher than April’s 45,447 but lower than forecasts of a level of 46,100. Furthermore, May’s figure was lower than the average for the previous six months. Today’s figures [...]

June 29, 2011 | 0 Comments More
Hometrack: House prices fall in June

Hometrack: House prices fall in June

According to housing intelligence group, Hometrack, house prices in England and Wales have fallen at their fastest annual pace since October 2009. According to Hometrack, house prices fell by 0.1% in June and are 3.9% lower on the year. House prices have now fallen for 11 consecutive months, according to the group. Hometrack attributes the [...]

June 27, 2011 | 0 Comments More
Oil prices fall further over global concerns

Oil prices fall further over global concerns

Oil prices have fallen further as investors continue to worry about the weak US recovery and Greece’s debt woes. Today, Brent crude for August delivery fell $2.95 to $102.72 a barrel, while US light, sweet crude dropped $1.13 cents to $90.14 a barrel. The US economy continues to struggle amid stubbornly high unemployment and a [...]

June 27, 2011 | 0 Comments More
US new home sales fall in May

US new home sales fall in May

The Commerce Department has today revealed sales of new homes in the US fell, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell by 2.1% in May on a monthly basis to an annual rate of 319,000 units, after two consecutive months of gains. However, despite the fall, [...]

June 23, 2011 | 0 Comments More
Tesco UK sales hit by weak consumer spending

Tesco UK sales hit by weak consumer spending

Supermarket giant Tesco has today reported a fall in UK like-for-like sales but said overseas sales remained strong. British shoppers continue to rein in their spending due to economic uncertainty and Government spending cuts which led to a fall of 0.1% in sales for the 12 week period to 28 May – worse than the [...]

June 14, 2011 | 0 Comments More
Weak US data sends Asian shares falling

Weak US data sends Asian shares falling

Asian shares fell today after the world’s largest economy raised fears of a slowdown. Figures issued in the US yesterday revealed manufacturing activity slowed to its lowest level since September 2009 and was weaker than economists had expected. Furthermore, payroll processing firm ADP said private employers created a less than expected 38,000 jobs last month [...]

June 2, 2011 | 0 Comments More
Hometrack: Housing demand remains weak

Hometrack: Housing demand remains weak

According to housing intelligence group, Hometrack, house prices in England and Wales fell at their fastest annual pace since October 2009 last month. According to Hometrack, house prices fell by 0.1% on the month and are 3.7% lower on the year. House prices have now fallen for 10 consecutive months, according to the group. Hometrack [...]

May 30, 2011 | 0 Comments More
Nationwide: House prices rise 0.3% in May

Nationwide: House prices rise 0.3% in May

The latest house price index from the Nationwide Building Society has revealed a 0.3% rise for the month of May compared with April. The latest fall means house prices are now 1.2% lower than this time last year with the average UK home costing £167,208. Despite the rise, the housing market remains subdued as a [...]

May 27, 2011 | 0 Comments More