UK economy

Opinion Former Comments

CPA: Construction activity falls in weather affected Q1

The latest Construction Trade Survey, published today, shows that activity in the majority of the construction industry fell during the first quarter of 2013 with the impacts of falling demand exacerbated by the adverse impacts of poor weather. Looking forward, industry prospects remain downbeat with contractors, specialists and civil engineers all reporting declining orders for future work.

CML: Repossessions 17% lower in first Q of 2013 than in 2012

The rate of repossession in the three months January to March remained at 0.07% for the fourth consecutive quarter, according to data published today by the Council of Mortgage Lenders. This rate is the equivalent of fewer than 1 in 1,400 mortgaged properties being taken into possession by lenders each quarter.

CML chairman's speech: "More certainty for essential market recovery"

More certainty, greater clarity, less politics and longer term objectives are essential in helping the mortgage market recover according to CML Chairman Nigel Terrington in his speech to an audience of over 600 people at the CML annual lunch.

Economy may be healing but no growth in construction

Today’s GDP figures, published by ONS, show that the UK economy grew by 0.3 per cent in the first quarter of 2013 compared to the previous quarter and was up 0.6 per cent compared to the same quarter a year ago. Construction fared much worse, declining by 2.5 per cent quarter-on- quarter and 5.9 per cent year-on-year.

CML: Mortgage market diversity: our mutual friends - and non-banks!

Today’s issue celebrates diversity in the mortgage market – we welcome today’s expansion of Funding for Lending to help non-banks, and report the strong recent growth of the building society sector.

CML response to EU mortgage credit directive

The Council of Mortgage Lenders today welcomed the Irish Presidency's announcement that agreement on the EU Mortgage Credit Directive has been reached and that the scope of the new rules is unlikely to cause problems for domestic lenders. The proposed rules sit alongside consumer protection measures due to be introduced in the UK by the FCA's new Mortgage Market Review (MMR) rules.

CPA: Construction Decline In 2013 But Growth In 2014

Construction output is set to fall by more than 2% this year following an 8% contraction in 2012, according to the latest forecasts published today by the Construction Products Association. A recovery is anticipated in the medium-term with growth of 1.9% in 2014 and 3.8% in 2015.

CML: Gross mortgage lending up 9% in March

The Council of Mortgage Lenders estimates that total gross mortgage lending increased to £11.6 billion in March. This is 9% higher than February’s gross lending figure of £10.6 billion but 8% lower than £12.6 billion in March 2012. However, this was just before the first-time buyer stamp duty holiday expired, distorting meaningful comparison.

CML: Lending to first-time buyers increases in February

The number of first-time buyers increased by 3% in February, marking the best start to a year since 2008, according to new data released today by the Council of Mortgage Lenders.

CPA: Product Manufacturers Hit in Weather-Affected Q1

The Construction Products Association’s latest State of Trade Survey indicates that sales of construction products fell during the first three months of 2013 with poor weather exacerbating conditions for the industry.

Friday, 23 July 2010 00:00

The economy surged ahead far better than expected in the second quarter of the year, growing by 1.1%.

Most analysts expected growth closer to 0.6%, but the Office for National Statistics (ONS) figures were much more bullish.

The figure reflects a greatly improved performance on the first quarter of the year, when the economy grew by 0.3%.

The key services industry, which constitutes about three quarters of the UK economy, was responsible for most of the growth.

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