G20 summit: David Cameron predicts another recession as global problems bite November 17, 2014 Prime Minister David Cameron has warned that “red warning lights are flashing on the dashboard of the global economy”, threatening another recession. At the close of the G20 summit in Brisbane, Cameron wrote of “a dangerous backdrop of instability and uncertainty”, with the UK’s receovery hampered by the slowdown in the Eurozone. In an article [...]
London average house prices top £600,000 for the first time November 16, 2014 The average price of a residential London property has risen above £600,000 for the first time but signs of cooling are evident. The break through the £600,000 barrier in house prices in November marks just a 0.8 per cent increase on October’s figure, according to data released today by online property market platform Rightmove. Rightmove’s [...]
UK’s “app economy” boosts demand for web designers and programmers November 16, 2014 Demand for web designers and programmers is rising rapidly as firms invest in the UK’s “app economy”. The number of web design and programming jobs in the IT sector rose by 11 per cent – or by 7,000 jobs – in the year to June, according to figures released today by accountants NoPalaver. The UK [...]
World sentiment drops on growth fears for slowing China and a stagnant euro area November 13, 2014 WORLD economic sentiment has dipped for the fourth quarter, with China and the Eurozone weighing on expectations. The Ifo index – published yesterday by Ifo at the University of Munich – for the world economy fell to 95 points from 105 points for the third quarter, reaching its lowest level since the same period of [...]
London housing market slower than rest of UK November 13, 2014 HOUSING market activity in London is now lagging behind the rest of the country, new figures reveal today. In the three months to September, the number of transactions in England and Wales was 15.4 per cent higher than the same period last year, according to LSL property services. However, the number of transactions in London [...]
Repossessions and mortgage arrears dip to a six-year low November 13, 2014 HOUSE repossessions and the number of mortgages in arrears have fallen to their lowest levels since 2008. At the end of the third quarter, the proportion of mortgages with arrears equivalent to 2.5 per cent or more of the total mortgage value was 1.12 per cent – down from 1.18 per cent in the second [...]
Non-financial firms add record value November 13, 2014 A MEASURE of how much value non-financial firms add to the economy reached £1 trillion for the first time in 2013. The set of data, released by the Office for National Statistics yesterday and known as approximate gross value added at basic prices (GVA), represents the income generated by firms less the cost of goods [...]
Eurozone pressure mounts on Draghi November 13, 2014 INFLATION in the Eurozone’s four largest economies failed to register any significant pick-up in October. Annual price rises in Germany, France, Spain and Italy came in at 0.7 per cent, 0.5 per cent, minus 0.2 per cent and 0.1 per cent respectively – all considerably below the European Central Bank’s two per cent target for [...]
Welcome news for workers as wage growth outpaces inflation for first time since 2009 November 12, 2014 WAGES have beaten inflation for the first time in five years, official data revealed yesterday. Regular pay – which excludes bonuses – was 1.3 per cent higher in the three months to September than it was in the same period a year ago. With annual consumer price inflation down to 1.2 per cent, it marked [...]
Inflation set to stay low for up to three years November 12, 2014 THE BANK of England (BoE) yesterday shifted its expectations of a first rate hike to late 2015 as it forecast inflation to stay below target until 2017. The UK’s economic growth was predicted to slow in 2015 to 2.9 per cent after forecasting 3.5 per cent growth for the whole of 2014. Weak growth in [...]