UK Economy

UK asking price inflation accelerates to 5%

Given that Rightmove asking price inflation is now 5% and sales volumes are estimated to be currently up 40% on last year, there’s no doubt the UK housing market rebound has beaten...

UK house price inflation accelerates to 3.7%

This morning’s Nationwide house price index, up 2% on the month and with annual inflation running at 3.7%, adds to the evidence that pent-up demand and Rishi Sunak’s stamp duty holiday...

Rightmove provides further evidence of robust UK homes market

The UK housing market has seen an impressive rebound from COVID lockdown, with activity levels increasing considerably and now evidence of rising prices also. Waning of pent-up demand...

Latest RICS Residential Survey signals further recovery in UK housing market

The July Royal Institute of Chartered Surveyors (RICS) Residential Survey points to a further recovery in the UK housing market. Of specific support, not surprisingly, was the stamp...

UK data show extent of COVID damage

The data from the UK this morning show the extent of damage done to the UK economy from COVID-19 and the response to it. Signs of recovery can be seen clearly in construction...

UK borrowing reaches £128bn in the past three months

June’s UK public finance data were better than expected, with slower growth in spending suggesting that government support was dialled down as the economy reopened. However,...

UK wage growth moves into negative territory

Yesterday’s UK labour market data showed that the damage from COVID-19 has been remarkably light, with unemployment still at 3.9% but clearly suppressed by the success of Rishi...

Sunak plans £30bn stimulus but also end to furlough scheme

Rishi Sunak faces a difficult balancing act, announcing a further £30bn (1.4% of GDP) stimulus yesterday (July 8th) but insisting the job furlough scheme will end in October. Sunak will...

UK GDP contracts by 20% in April

The news this morning that UK GDP contracted by 20% in April isn’t quite at the most pessimistic end of expectations but will probably lead many forecasters to revise down their...

UK claimant count surges in April

Yesterday (May 18th) saw France and Germany outline their proposals for a new €500bn European Commission fund to provide grants to EU countries hit by COVID-19. This morning’s UK...