Factories report fast growth in US as economy lifts June 23, 2014 US MANUFACTURERS are reporting the fastest expansion in four years, adding to the perception that the country’s growth is increasingly picking up strength. Markit’s purchasing managers’ index (PMI) for the sector hit 57.5, the highest seen since April 2010. Output, new orders, employment and backlogs of work all increased from May, and picked up speed. Cost [...]
Euro periphery powers growth as France flops June 23, 2014 THE PERIPHERAL euro economies are growing at a faster pace than Germany for the first time in eight years, as French businesses hint that the country’s weak growth has stopped entirely. Figures from Markit’s Eurozone purchasing managers’ index (PMI) in June suggest that the currency bloc’s pace of growth remains sluggish. June’s figure of 52.8, [...]
Eurozone to hold off interest rate increase until at least 2016 June 23, 2014 European Central Bank (ECB) chief Mario Draghi has hinted that policymakers would likely not hike rates for at least another 18 months. “We have prolonged banks’ access to unlimited liquidity up to the end of 2016. That is a signal. Our programme in support of bank lending to businesses will continue for four years,” the ECB [...]
East Asian manufacturing firms signal return to growth in June June 23, 2014 Industrial companies in China and Japan reported that business expansion had restarted again this month, after periods of stagnation and contraction. HSBC’s purchasing managers’ index (PMI) for the Chinese manufacturing sector registered a score of 50.8, above the mark that signals an expansion for the first time since the end of last year. [...]
The new map tool that has data geeks crying with joy June 23, 2014 Two University College London (UCL) researchers have set up a paradise for data-lovers, giving people the ability to map a huge range of social and economic indicators onto their own area, or any in England and Wales. The site looks almost effortless, and is far superior to any similar offerings from government databases. [...]
Booming mid-sized firms hit hard by UK tax system June 23, 2014 THE UK’S mid-sized businesses will grow at a faster pace than German companies of the same size this year, according to a new report released today, with firms in the capital leading the way. Mid-market companies are expected to see sales growth of 6.1 per cent during the next 12 months, faster than any other [...]
London house prices: City closing in on West End’s values June 23, 2014 Residential property prices in the City are rapidly rising to match some of London’s most expensive areas, and could catch up with the costliest parts of the West End in just five years’ time. Typical house and flat prices in the City were 60 per cent lower than their equivalents in the ultra-prime areas of [...]
Mark Carney to decide on property market limits June 23, 2014 The Bank of England’s latest report on the country’s financial stability is released this week, with the potential for fresh action to cool London’s frothy housing market. The Bank’s financial policy committee (FPC), which is chaired by governor Mark Carney, releases its twice-yearly outlook in systemic stability on Thursday. The governor and other policymakers have [...]
Weak inflation helps to boost family finances June 23, 2014 Households have more spending power than at any time in the past four and a half years, with less pressure on essential spending and especially energy bills. Lloyds Bank’s latest barometer of consumer confidence reached 146 in May, according to research released this morning, well above the 100 level set in January 2010. The index [...]
National debt to rise £128.6bn under new UK accounts system June 23, 2014 PUBLIC debt levels are set to surge further under new national accounting rules, according to the latest figures on the Treasury’s financial health. The UK’s net debt will climb from the £1.285 trillion which was recorded in May, excluding the effect of one-off financial interventions, up to £1.417 trillion under the new system. For the [...]