UK Construction Growth Fastest In Nearly Two Years

RTTNews | 471 hari yang lalu

(RTTNews) - The UK construction sector logged its fastest growth in two years in May with activity and new orders increasing at sharper rates, survey results from S&P Global showed on Thursday.

The construction Purchasing Managers' Index rose unexpectedly to 54.7 in May from 53.0 in April. The reading was forecast to fall to 52.5.

The survey showed that all three monitored categories reported growth for the first time since May 2022 as housing activity returned to growth.

Commercial construction activity growth accelerated to a two-year high in May. Meanwhile, growth in civil engineering activity softened slightly.

There was a sustained increase in new orders. Orders grew at the fastest pace in a year on robust demand. Firms linked higher new orders to the winning of new contracts and the commencement of previously delayed projects.

Consequently, firms increased employment for the first time in five months. The pace of job creation was the sharpest since last September.

A renewed rise in purchasing activity was also reported in May, driven by improving workloads. Lead times shortened to the greatest extent in seven months, the survey showed.

There was only a marginal increase in input costs in May with the rate of inflation easing to the lowest in the current five-month sequence of rising input prices. The rates charged by sub-contractors increased markedly but weaker than the series average.

Business confidence improved to a three-month high in May as respondents expect further increases in new orders to support growth over the coming twelve months.

Teg: GBP

UK Budget Shortfall Overshoots Estimate

UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget. Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.

RTTNews | 1 hari yang lalu

Bank Of England Holds Key Rate; Slows Quantitative Tightening

The Bank of England left its interest rate unchanged and softened its pace of quantitative tightening on Thursday, as policymakers were wary about risks to inflation in the U.K. The BoE Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to maintain the bank rate at 4.00 percent.

RTTNews | 1 hari yang lalu

UK Inflation Unchanged At 3.8%

U.K. consumer price inflation remained sticky in August on higher food prices, official data showed Wednesday, ahead of the policy announcement by the Bank of England on Thursday. The consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July, the Office for National Statistics reported. Inflation matched economists' expectations and stood well ab

RTTNews | 2 hari yang lalu

UK Economy Flatlines In July

The UK economy stagnated in July, posing further challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampens activity. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday.

RTTNews | 7 hari yang lalu

UK House Prices Rise For Third Month: Halifax

UK house prices increased for the third straight month to hit the highest on record in August, data from the mortgage lender Halifax showed Friday. House prices grew 0.3 percent in August from a month ago. However, this was slightly weaker than the 0.4 percent increase in July. Prices increased for the third straight month and logged a faster-than- expected rise of 0.2 percent.

RTTNews | 14 hari yang lalu

UK Construction Sector Continues To Shrink

The UK construction sector contracted for the eighth consecutive month in August due to marked reductions in the housing and civil engineering works, survey data published by S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 45.5 in August, up from 44.3 in July. However, the score remained well below the 50.0 mark indicating sharp fall in construction output.

RTTNews | 16 hari yang lalu

UK Mortgage Approvals Rise To 6-Month High

UK mortgage approvals increased to the highest in six months in July but secured lending decreased to a two month low, official data showed Monday. Mortgage approvals for house purchases, an indicator of future borrowing, rose by 800 to 65,400 in July, the Bank of England said. This was the highest total since January, when approvals hit 65,775. Approvals were forecast to drop to 64,000.

RTTNews | 18 hari yang lalu

UK House Price Growth Softens In August

UK house prices logged a slower pace of growth in August due to stretched affordability, the Nationwide Building Society said Monday. House prices increased 2.1 percent on a yearly basis in August, slower than the 2.4 percent rise seen in July. On a monthly basis, house prices edged down 0.1 percent, in contrast to the 0.5 percent increase in the previous month.

RTTNews | 19 hari yang lalu

EURUSD	1.1745	GBPUSD	1.3471	AUDUSD	0.65854
USDJPY	147.962	USDCAD	1.3779	USDCHF	0.79533