House price rise cooling October 9, 2014 FURTHER evidence has emerged that the housing market cooled down in August. The Council for Mortgage Lenders, a trade association, reported that the number of loans for house purchase fell by 3.3 per cent in August. This remains 7.9 per cent above August 2013, however.
Tourists flocking to UK as 10m visitors make it a bumper year October 9, 2014 Tourism provided a welcome boost to the UK economy over the last year with more than 10m overseas visitors opting for a British holiday. The number of tourists visiting the UK was up six per cent for the year-to-date, according to figures released yesterday by the Office for National Statistics. Meanwhile, the beaches of Brighton [...]
Signs of wage increases as City workers seek new career opportunities and firms expand October 8, 2014 Back from holiday and looking to move… the rush is on to switch career City workers are making the most of the UK recovery and firms’ expansion plans by hunting for new career opportunities and bargaining for bumper salaries. The number of professionals seeking new roles increased 25 per cent year-on-year in September. There are [...]
US concern over strong dollar to delay rate hike October 8, 2014 US STOCKS jumped last night as newly released details from the US central bank’s September meeting showed concern over raising rates too early. Policy makers at the Federal Reserve expressed concern that weak economic growth in the Eurozone, China and Japan could hit US exporters. Their worries were compounded by the risk of unforeseen events [...]
Weak Eurozone drags down UK export push October 8, 2014 Britain's resurgent economy is being slowed down by the weak Eurozone, a survey by the British Chambers of Commerce (BCC), says today. GDP was 3.2 per cent higher between April and June than it was over the same period a year before. This was the fastest annual growth of any G7 nation. However, the [...]
City A.M. shadow MPC votes 7-2 against interest rate hike October 8, 2014 Our panel of economists voted by a margin to seven to two to hold interest rates this month. The main concerns are Europe’s downturn, a lack of real wage growth in the UK and low inflation. However, a tightening labour market may signal higher inflation is round the corner, persuading some economists to [...]
Construction in London dodged recession’s bite October 8, 2014 CONSTRUCTION in the capital has been invulnerable to the financial crisis and the following recession with growth now predicted to surpass its trend level. The last three months will have seen activity soar above its pre-crisis trend, according to data from Scape, a government owned construction company. The remaining figures are from the Office of [...]
Put your house on it …price boom ends October 8, 2014 HOUSE price growth slowed in September, an influential report from Halifax showed yesterday, adding to evidence that activity in the UK’s rampant property market was moderating. Prices rose 0.6 per cent last month and 9.6 per cent in the past year. But this still-substantial growth marks a continued slowdown from the annual growth of 10.2 [...]
House prices to cool off after mortgage dip October 7, 2014 MORTGAGE lending fell significantly over the past three months, according to the Bank of England, suggesting the housing market will cool further. This is the first negative figure since the final three months of 2011 and marks a significant reversal in housing trends. House prices boomed over summer and are expected to grow 17 per [...]
UK set to grow despite trouble in the Eurozone October 7, 2014 Economists at the International Monetary Fund yesterday maintained their view that the UK economy would grow 3.2 per cent in 2014 and 2.7 per cent in 2015. The IMF added that a Eurozone recession was now more likely, following poor data in Germany. Manufacturing increased 3.9 per cent on the year but still remained 4.4 [...]
