Tag: March

Japan service sector activity plunges to 22-year low

Japan service sector activity plunges to 22-year low

The Ministry of Economy, Trade and Industry today revealed Japanese service sector activity slumped in March due to the earthquake and tsunami. The twin disasters, which occurred on 11 March, led to a fall in activity with the tertiary industry index, falling 6% to 93.5 from February’s 99.5. The decline is the steepest since April [...]

May 18, 2011 | 0 Comments More
DCLG: House prices rise 1.2% in March

DCLG: House prices rise 1.2% in March

Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices rose by 1.2% in March compared with February. On an annual basis, house prices are 0.9% higher, taking the average UK house price to £205,565. The data from the DCLG is based on mortgage completions figures collected by the [...]

May 17, 2011 | 0 Comments More
CML: Remortgaging on the increase

CML: Remortgaging on the increase

The Council of Mortgage Lenders (CML) has today reported a rise in remortgaging loans as homeowners anticipated interest rate hikes. According to the CML, there were almost 34,000 remortgage loans advanced in March – 16% higher compared with February and a rise of 17% on an annual basis. Remortgaging has remained subdued during the historically [...]

May 13, 2011 | 0 Comments More
US trade deficit pushed up by rising oil import costs

US trade deficit pushed up by rising oil import costs

The US trade deficit swelled in March to $48.18 billion (£29.5 billion) – up from $45.4 billion the previous month. The widening was attributed to higher prices for imported oil, the Commerce Department reported. Imports rose 4.9% to $220.8 billion, while exports grew 4.6% to a record high of $172.7 billion – the largest monthly [...]

May 12, 2011 | 0 Comments More
UK manufacturing output disappoints in March

UK manufacturing output disappoints in March

The Office for National Statistics (ONS) has today revealed UK manufacturing output grew 0.3% in March on a monthly basis – much less than the 0.8% rise expected by analysts. The figure follows February’s shock fall and analysts had expected output to rebound in March. The fall was attributed to the ongoing maintenance work on [...]

May 12, 2011 | 0 Comments More
German exports surge to record high in March

German exports surge to record high in March

Statistics office Destatis has today revealed German exports rose to a record high in March, driving its trade surplus up. Exports rose 7.3% in March on a monthly basis to €98.3 billion (£87 billion), while imports also rose to a record high, by 3.1% on a monthly basis, to €79.4 billion. A statement said: “That [...]

May 9, 2011 | 0 Comments More
Official: house prices in steepest decline since 2009

Official: house prices in steepest decline since 2009

Latest figures from the Land Registry show house prices in England and Wales falling by 1.1% in March, marking the largest monthly decline seen since February 2009. The only region to experience a monthly rise was the North West, with an upward movement of 0.7%, while in Wales house prices tumbled by 3.3%, compared with [...]

May 5, 2011 | 0 Comments More
Japanese industrial output sees record fall

Japanese industrial output sees record fall

Japanese industrial output fell by 15.3% last month – the largest ever fall as disruptions in the supply chain brought the country’s car industry to a halt. The previous record was an 8.6% fall in February 2009 – at the time of the global financial crisis – and was far worse than forecasts of an [...]

April 28, 2011 | 0 Comments More
BBA: Mortgage lending remains subdued

BBA: Mortgage lending remains subdued

The British Bankers’ Association (BBA) has today revealed a slight rise in the number of new mortgages approved by the major banks in March. According to the BBA, the number of new mortgages approved in the month stood at 31,660 - marginally better than February’s level of 30,178. However, mortgage approvals were down 10% on [...]

April 27, 2011 | 0 Comments More
BoE: Mortgage approvals up in March

BoE: Mortgage approvals up in March

The Bank of England has today revealed mortgage approvals rose in March. According to the Bank, there were 44,000 loans approved in the month, up from February’s 43,000. However, the figure remains well below the 51,000 approved in the same month a year ago. The figures come a day after the Council of Mortgage Lenders [...]

April 21, 2011 | 0 Comments More
UK public borrowing less than expected in financial year

UK public borrowing less than expected in financial year

The Office for National Statistics (ONS) has today revealed UK public sector borrowing came in lower than expected for the fiscal year. According to the ONS, public sector net borrowing (excluding interventions such as bank bail-outs) was £18.6 billion in March, taking the total for the fiscal year 2010-11 to £141.1 billion – less than [...]

April 21, 2011 | 0 Comments More
ONS: Surprise rise in March retail sales

ONS: Surprise rise in March retail sales

The Office for National Statistics (ONS) has today reported a rise in UK retail sales for the month of March. According to the ONS, sales volumes registered a surprise rise of 0.2% on a monthly basis – driven by strong food and non-store sales. However, other sectors which performed well included garden stores and toy [...]

April 21, 2011 | 0 Comments More
CML reports 2% fall in mortgage lending in March

CML reports 2% fall in mortgage lending in March

The Council of Mortgage Lenders (CML) has today said mortgage lending continues to remain weak, suggesting the housing market will remain subdued this year. According to the Council, gross mortgage lending for March was 2% lower in March on an annual basis. However, on a monthly basis, gross lending rose 21% to £11.3 billion, compared [...]

April 20, 2011 | 0 Comments More
US housing starts pick up, permits down

US housing starts pick up, permits down

The Commerce Department has today revealed US housing starts picked up in March but the recovery remains a long way off, according to analysts. Housing starts increased 7.2% to a seasonally adjusted annual rate of 549,000 units, while February’s figure was revised upwards to 512,000. In the meantime, applications for building permits, a barometer of [...]

April 19, 2011 | 0 Comments More
China’s house price growth eases in March

China’s house price growth eases in March

The National Bureau of Statistics has today revealed Chinese property growth eased in March. China‘s property prices have remained stubbornly high despite several Government incentives to avoid a property bubble. The country continues to grapple with high inflation in property and food prices. However, property prices slowed in March with fewer cities recording an increase, [...]

April 18, 2011 | 0 Comments More
Euro zone inflation rises to 2.7% in March

Euro zone inflation rises to 2.7% in March

Eurostat has revealed inflation in the 17-member euro zone rose to 2.7% in March - remaining above the European Central Bank’s (ECB) target of just below 2%. Rising inflation in the region led the ECB to lift interest rates this month from 1% to 1.25% – for the first time in almost three years. The [...]

April 16, 2011 | 0 Comments More
US inflation rises more than expected in March

US inflation rises more than expected in March

The US Labor Department has today revealed consumer prices climbed to 2.7% in March from 2.3% in February. The rise, which was more than expected, was attributed to higher food and petrol prices. Meanwhile, on a monthly basis, consumer prices rose by 0.5% in March. Inflation is rising in many economies throughout the world, particularly [...]

April 15, 2011 | 0 Comments More
India’s inflation surges to 8.9% in March

India’s inflation surges to 8.9% in March

April 15, 2011 | 0 Comments More
Housing market remains subdued, say surveyors

Housing market remains subdued, say surveyors

The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remained weak last month. The Institution’s March monthly survey revealed sales and prices were flat, while interest from prospective buyers was waning. However, London appears to be bucking the trend with house prices in the capital rising for a second consecutive [...]

April 12, 2011 | 0 Comments More
UK inflation in surprise fall to 4% in March

UK inflation in surprise fall to 4% in March

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) fell to an annual rate of 4% in March, from February’s 28-month high of 4.4%. The fall was attributed to food prices, which fell 1.4%. While it was the first time in eight months inflation had slowed, it still remains double the target [...]

April 12, 2011 | 0 Comments More