The ONS Index of Services fell by 3.7% in October 2009 on October 2008. It fell 3.9% on the quarter on last year and 0.2% on the last quarter but increased by 0.1% month on month.
The distribution sector was the only one to report an increase on a month on a year earlier basis. Retail increased by 3.7% and motor trades by 3.1%. The 0.4% rise in distribution contrasted with the falls in hotels and restaurants of 7.7%, business services and finance of 6% and transport of 4.9%. Over the quarter there were falls in all sectors. Hotels and restaurants fell by 7.8%, business services and finance by 5.7% and transport by 5.6%.
On a month by month basis distribution made a 1.2% increase, transport a 0.6% increase and there were falls in the other sectors. Hotels and restaurants fell by 2.6% and business services and finance by 0.5%.
The index measures the movements in gross value added of the service industries. The service industries account for over 76% of GDP in the base year of 2005.
Wednesday, 23 December 2009
Monday, 21 December 2009
Increased Investment In Services
Business investment fell by 0.6% on the last quarter and by 19.9% on Q3 2008. Q3 2009 investment stood at £29,102m. Private sector investment in services increased by 0.1% to £20,430m. Manufacturing and other production accounted for £2,618m and £4,532m respectively. Construction increased by 9.2% and accounted for £569m and public corporations made £953m of business investment a fall of 1.8%.
Investment in computer software and hardware accounted for about 9.5% of all business investment in the private sector, equally divided between software and hardware. In manufacturing investment in computer software and hardware is about 7% and in services it is about 11%.
Investment in computer software and hardware accounted for about 9.5% of all business investment in the private sector, equally divided between software and hardware. In manufacturing investment in computer software and hardware is about 7% and in services it is about 11%.
Public Sector Borrowing Up In November
The public sector finances showed a current budget deficit of £16.2bn in November 2009 compared to a deficit of £13.2bn for November last year, an increase of £3bn. Net borrowing reached £20.3bn in November this year, £4.9bn higher than the £15.5bn in 2008. Net debt was £844.5bn which equals 60.2% of GDP compared to £706.2bn which was 49.6% of GDP last year. Public sector net cash requirement was £14.7bn, £4bn more than the £10.6bn net cash requirement of last year.
Public sector net investment totalled £4.1bn which when added to the current budget deficit of £16.2bn gives the total public sector net borrowing figure of £20.3bn. The sectoral breakdown of borrowing shows that central government accounted for £20.6bn, local government £0.8bn and the total was offset by £1.1bn from revisions for public corporations.
Current receipts in Novemeber amounted to £33.8bn, 3% lower than the same month last year, and current expenditure to £50.3bn, 6.4% higher than last year, of which £16.2bn was social benefits and £3.5bn interest. Income and wealth taxes accounted for £10.3bn of the current receipts but the biggest contributor was taxes on production of £13.7bn.
Public sector net investment totalled £4.1bn which when added to the current budget deficit of £16.2bn gives the total public sector net borrowing figure of £20.3bn. The sectoral breakdown of borrowing shows that central government accounted for £20.6bn, local government £0.8bn and the total was offset by £1.1bn from revisions for public corporations.
Current receipts in Novemeber amounted to £33.8bn, 3% lower than the same month last year, and current expenditure to £50.3bn, 6.4% higher than last year, of which £16.2bn was social benefits and £3.5bn interest. Income and wealth taxes accounted for £10.3bn of the current receipts but the biggest contributor was taxes on production of £13.7bn.
Friday, 18 December 2009
16.4 Million Electronic Trades On LSE In November
The London Stock Exchange carried out a total of 16.4 million electronic equity trades worth £149 billion in November. The average number of trades per day was down 21% to 781,875 with a value of £7.1 billion, a decrease of 7% on November last year.
The total value of UK cash equities traded in November was £80.4 billion from 10.7 million trades. The average daily value traded was £3.8 billion, a decrease of 29% on last year, from an average of 509,078 trades.
Derivative trades reached 508,607 with a daily notional value of £4.1 billion, 7% lower than the same month last year. Fixed income trading remained strong. The average daily value on the MTS Cash Markets more than doubled, up 113% on last year at £10.4 billion and the MTS Repo market trade increased over the year to £128.7 billion. The MOT's average daily value was £729 million and average daily trades was 12,313, down 17% on November last year.
The total value of UK cash equities traded in November was £80.4 billion from 10.7 million trades. The average daily value traded was £3.8 billion, a decrease of 29% on last year, from an average of 509,078 trades.
Derivative trades reached 508,607 with a daily notional value of £4.1 billion, 7% lower than the same month last year. Fixed income trading remained strong. The average daily value on the MTS Cash Markets more than doubled, up 113% on last year at £10.4 billion and the MTS Repo market trade increased over the year to £128.7 billion. The MOT's average daily value was £729 million and average daily trades was 12,313, down 17% on November last year.
High Street Building Up To Christmas
The CBI report retailers are enjoying an early build up to Christmas with the third successive month of growth in sales. The Distributive Trades survey suggests sales have grown over last year and could grow still more before the end of the month. Sales for the time of year are below seasonal norms and described as poor by some retailers.
Stock levels remain almost unchanged from November but the volume of orders rose again but at a slower rate than expected. Orders are expected to flatten in the New Year, as are sales.
The highest rates of growth were in the grocery, durable household goods, footwear and leather and furniture and carpets. Booksellers and stationers saw a reversal of their recent growth and there was a fall in sales at the chemists.
Industrial materials reported an change for the better as fourteen months of falling sales ended with a flat month. Clothing, textiles and footwear wholesalers saw their best sales growth since 2004.
There was a second month of growth for motor traders who expect that to contiue into the New Year due to the scrappage scheme. Sales for the month were said to be above average.
Stock levels remain almost unchanged from November but the volume of orders rose again but at a slower rate than expected. Orders are expected to flatten in the New Year, as are sales.
The highest rates of growth were in the grocery, durable household goods, footwear and leather and furniture and carpets. Booksellers and stationers saw a reversal of their recent growth and there was a fall in sales at the chemists.
Industrial materials reported an change for the better as fourteen months of falling sales ended with a flat month. Clothing, textiles and footwear wholesalers saw their best sales growth since 2004.
There was a second month of growth for motor traders who expect that to contiue into the New Year due to the scrappage scheme. Sales for the month were said to be above average.
Thursday, 17 December 2009
High Street Sales Up On Last Year
The value of retail sales in November 2009 was up 2.7% on 2008, food stores were 3.4% up, non-food stores 1.1% up with household goods showing the largest rise at 3.5%. Non-specialised rose 3.1%, clothing and footwear 1.5% and non-store retailing including Internet retail sales were 9.9% up.
In terms of volume the increase was up 3.1% with food stores 1.7% up and non-foodstores up 3.1%. Textile, clothing and footwear had the largest increase at 7.1% and non-specialised retailers 4.5%. Household goods were big risers with an increase of 3.9% and non-store retailing and repair 11.7%.
Prices were 0.5% lower than last year. Internet sales amounted to £291.7m or 4.8% of the total (Office for National Statistics).
In terms of volume the increase was up 3.1% with food stores 1.7% up and non-foodstores up 3.1%. Textile, clothing and footwear had the largest increase at 7.1% and non-specialised retailers 4.5%. Household goods were big risers with an increase of 3.9% and non-store retailing and repair 11.7%.
Prices were 0.5% lower than last year. Internet sales amounted to £291.7m or 4.8% of the total (Office for National Statistics).
Slowdown In Labour Market Decline
The ONS Labour Market Survey for December reports there have been falls in the number of jobs, lower employment, increases in redundancies and rising unemployment ever since the start of the recession but in the third quarter of 2009 the labour market decline has slowed.
The number claiming Jobseekers Allowance in November was 1.63 million, a decrease of 6,300, the first monthly fall since February 2008. The number of vacancies in the three months to November was 432,000.
The employment rate for August to October was 72.5% at 28.93 million, up 53,000 and there was the smallest quarterly increase in unemployment rates, at 7.9%, since Spring 2008. The number of unemployed was 2.49 million. The number of redundancies fell 42,000 to 191,000 people, a rate of 7.7 per 1000 employees. The inactivity rate was 21% and there were 7.99 million economically inactive people of working age. The Average Earnings Index (AEI), including bonuses, went up by 1.5% on last year. The AEI excluding bonuses went up 1.7% on the year. Nine stoppages lost a total of 175,000 working days. Over the year to October, 90 stoppages lost 374,000 working days.
There were 30.86 million workforce jobs in September which is down 127,000 over the quarter and 649,000 on the year. Construction saw the largest decreases. The manufacturing industries had 2.61 million employee jobs in the three months to October. There were 26.36 million employee jobs and 4.2 million self-employment jobs.
Productivity for the whole economy for the second quarter of 2009 was down by 3.9% on the previous year. Unit wage costs for the whole economy were 5.7% higher for the same period. Manufacturing productivity was down by 0.9% and unit wage costs up by 3% for three months to October.
The number claiming Jobseekers Allowance in November was 1.63 million, a decrease of 6,300, the first monthly fall since February 2008. The number of vacancies in the three months to November was 432,000.
The employment rate for August to October was 72.5% at 28.93 million, up 53,000 and there was the smallest quarterly increase in unemployment rates, at 7.9%, since Spring 2008. The number of unemployed was 2.49 million. The number of redundancies fell 42,000 to 191,000 people, a rate of 7.7 per 1000 employees. The inactivity rate was 21% and there were 7.99 million economically inactive people of working age. The Average Earnings Index (AEI), including bonuses, went up by 1.5% on last year. The AEI excluding bonuses went up 1.7% on the year. Nine stoppages lost a total of 175,000 working days. Over the year to October, 90 stoppages lost 374,000 working days.
There were 30.86 million workforce jobs in September which is down 127,000 over the quarter and 649,000 on the year. Construction saw the largest decreases. The manufacturing industries had 2.61 million employee jobs in the three months to October. There were 26.36 million employee jobs and 4.2 million self-employment jobs.
Productivity for the whole economy for the second quarter of 2009 was down by 3.9% on the previous year. Unit wage costs for the whole economy were 5.7% higher for the same period. Manufacturing productivity was down by 0.9% and unit wage costs up by 3% for three months to October.
Wednesday, 16 December 2009
Car Market Up Over 57% In November
New car registrations were up 57.6% on a weak 2008 number to 158,082 units according to the Society for Motor Manufacturers and Traders (SMMT). Year on year figures are down 8.8% at 1,844,063 units but will increase before the year end to over 1.975 million units. The scrappage scheme accounts for much of the recent success. The Scrappage Incentive Scheme accounted for 21.6% of all new car registrations in November. Business, fleet and private sales increased in November with private sales up 141.2%. November 2008 figues showed a particularly sharp decline. The best selling models were the Ford Fiesta, as it has been for 9 months this year, the Focus, the Corsa and the Astra. Other popular models include the 3 series and the 207, the Clio and the Golf.
Small Businesses Patenting Activity Is Important
One of the articles in the Economic and Labour Market Review focuses on patents and intellectual property rights and it tells us that small businesses are as important as large businesses in patenting activity. Small businesses accounted for 40% of live patents and large busineses 44%. Medium sized businesses accounted for only 16% of patents. The article matches data from ONS Business Structure Database (BSD) firm level data and data from Intellectual Property Office (IPO). As well as matching data at the firm level it also analyzes regional data according to the NUTS2 system. London and the South East have the most of patents, and there were also large numbers in East Wales and Eastern Scotland (Cardiff and Edinburgh areas).
Inflation Up Again In November
Inflation in terms of the CPI was up 1.9% in November up from 1.5% in October. The RPI continued to rise and was 0.3% up in November to 216.6 compared to a 0.8% fall in October. The RPIX (excludes mortgage interest payments) also continued to rise, to 2.7% from 1.9% in October. The CPI stood at 112 in November an increase for the 5th month in a row.
The main contribution to the rise was transport, largely fuel and lubricants, where pricews went up 2.8% in November compared with a fall of 8.3% for the same time last year. There were smaller upward contributions from clothing and footwear, mainly mens and womens outerwear, and housing and household services, from liquid fuels reflecting the price changes of crude oil. The main downward contribution came from food and non-alcoholic beverages with price rises of 0.6% this year compared to 1.4%. The effect was mainly due to vegetables, coffee, tea and cocoa prices falling this year but rising a year ago. Fruit offset the effect slightly with price rises of 11.2% against rises of 6% a year ago.
Motoring expenses were the main contributor to the changes in the RPI. Price rises for petrol, oil and vehicle purchases this and prices falling a year ago explain the changes. Upward contributions came from mortgage interest payments and house depreciation which rose this year but fell a year ago. These changes reflect smoothing in the Department of Communities and Local Government House Price Index figures that are used in the ONS calculations. An increase in furniture prices also helps explain the change due to household goods contribution to the index. Downward effects were due to food prices which went up by less than a year ago, particularly vegetables, other fmcgs and soft drinks. Mobile phone charges, which fell this year but rose last year, also had an effect.
The main contribution to the rise was transport, largely fuel and lubricants, where pricews went up 2.8% in November compared with a fall of 8.3% for the same time last year. There were smaller upward contributions from clothing and footwear, mainly mens and womens outerwear, and housing and household services, from liquid fuels reflecting the price changes of crude oil. The main downward contribution came from food and non-alcoholic beverages with price rises of 0.6% this year compared to 1.4%. The effect was mainly due to vegetables, coffee, tea and cocoa prices falling this year but rising a year ago. Fruit offset the effect slightly with price rises of 11.2% against rises of 6% a year ago.
Motoring expenses were the main contributor to the changes in the RPI. Price rises for petrol, oil and vehicle purchases this and prices falling a year ago explain the changes. Upward contributions came from mortgage interest payments and house depreciation which rose this year but fell a year ago. These changes reflect smoothing in the Department of Communities and Local Government House Price Index figures that are used in the ONS calculations. An increase in furniture prices also helps explain the change due to household goods contribution to the index. Downward effects were due to food prices which went up by less than a year ago, particularly vegetables, other fmcgs and soft drinks. Mobile phone charges, which fell this year but rose last year, also had an effect.
Tuesday, 15 December 2009
Product News
Theatre Breaks provides theatre and hotel packages in London, Stratford-Upon-Avon, Edinburgh and Paris with Vienna soon to be added to the list. Theatre Breaks can create packages of theatre tickets and hotel accommodation tailored to suit the needs of each customer. Also on offer are Theatre meal-deals for many midweek performances and West End packages for all the top shows. The Stratford Upon Avon packages for the Royal Shakespeare Company, Edinburgh breaks for The Royal Tattoo or Paris to experience the Moulin Rouge. Packages can be enhanced by adding pre-theatre meals, events, attractions and tours. Go America is a service for people who want to travel the USA and Canada. You can get the low down on the range of 2-star to 5-star hotels for both business travelling and family holidays with leading TransAtlantic airlines like British Airways and Virgin Atlantic and information on the best to see and do, the best shopping, the best pools, bars and retreats from the Go America website.
HotelConnect is another online offering that brings its visitors cheap, bargain-priced accommodation for weekend and city breaks and offers a wide choice of seasonal holidays for summer and winter. There may be late bookings available. HotelConnect supply luxury and club offerings, they go to Europe and the USA. It may be worth looking at some of the special deals. Gtahotels.com specializes in discounted hotel bookings worldwide. European Discount Hotels
are a current offer. Travel consumers can also book deeply discounted accommodations worldwide in over 11,000 cities across not only Europe but the US, Canada, Asia, the Middle East, Africa, Latin America & the Pacific Rim. New destinations are added every month. GTA offer a Best Rate Guarantee to match the lower price of any other same deal offer online and refund the difference.
Inquisitive minds will find a range of ingenious gifts online at the Science Museum Store. It isn't only for the 'boffins'. There are lots of innovative and inspiring games and gadgets. The range includes Anti-Gravity Boots, Rocket Launching Money Boxes, Hydrogen Cars and Virtually Indestructible R/C Aeroplanes. Purchases support the Scence Museum. The Science Museum Store product range has something for all ages especially at Christmas.
HotelConnect is another online offering that brings its visitors cheap, bargain-priced accommodation for weekend and city breaks and offers a wide choice of seasonal holidays for summer and winter. There may be late bookings available. HotelConnect supply luxury and club offerings, they go to Europe and the USA. It may be worth looking at some of the special deals. Gtahotels.com specializes in discounted hotel bookings worldwide. European Discount Hotels
Inquisitive minds will find a range of ingenious gifts online at the Science Museum Store. It isn't only for the 'boffins'. There are lots of innovative and inspiring games and gadgets. The range includes Anti-Gravity Boots, Rocket Launching Money Boxes, Hydrogen Cars and Virtually Indestructible R/C Aeroplanes. Purchases support the Scence Museum. The Science Museum Store product range has something for all ages especially at Christmas.
Continued Recovery In The OECD
Indicators from the OECD continue to point to recovery in OECD economies. The composite leading indicators (CLI) for Canada, France, Italy, Germany and the UK all suggest more expansion in the business cycle than last month. In these OECD economies the main drivers of expansion are finance and business confidence. Non-member economies are also doing better with all major non-members in the recovery phase of the business cycle.
The CLI for OECD countries increased 1 point in October 2009 which is 5.7 points higher than the same period last year and the outlook is for recovery. The UK CLI increased by 1.3 points in October which was 8.8 points higher than last year and the outlook is expansion. The Euro area increased by 1.3 points, 8.8 points higher than last year. The US CLI increased 1 point, 3.9 points higher than last year. France was 10.2 points up on last year, Germany 9.2 and Italy 12.5 points up on last year.
Among the non-members China's CLI had increased 0.2 points in October and 5.7 points on last year, India 0.2 and 4 respectively, Russia increased 1.6 points in the month but was 1.1 points lower over the year and Brazil had increased by 0.7 points in October and decreased 4.2 points since October 2008.
The outlook for the OECD economies is one of recovery and for the Euro area expansion. The economies of Canada, France, Germany and Italy are also expected to expand and G7 and Asian economies are expected to be in the recovery phase as are the major non-member economies. It should also be noted that any signs of recovery contained in the data are more concerned with recovery happening rather than any suggestion of the strength of the recovery.
The CLI for OECD countries increased 1 point in October 2009 which is 5.7 points higher than the same period last year and the outlook is for recovery. The UK CLI increased by 1.3 points in October which was 8.8 points higher than last year and the outlook is expansion. The Euro area increased by 1.3 points, 8.8 points higher than last year. The US CLI increased 1 point, 3.9 points higher than last year. France was 10.2 points up on last year, Germany 9.2 and Italy 12.5 points up on last year.
Among the non-members China's CLI had increased 0.2 points in October and 5.7 points on last year, India 0.2 and 4 respectively, Russia increased 1.6 points in the month but was 1.1 points lower over the year and Brazil had increased by 0.7 points in October and decreased 4.2 points since October 2008.
The outlook for the OECD economies is one of recovery and for the Euro area expansion. The economies of Canada, France, Germany and Italy are also expected to expand and G7 and Asian economies are expected to be in the recovery phase as are the major non-member economies. It should also be noted that any signs of recovery contained in the data are more concerned with recovery happening rather than any suggestion of the strength of the recovery.
Monday, 14 December 2009
Product News
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More Online Shopping For Christmas
The Gift Experience has a huge range of personalised and non-personalised gifts and a comprehensive selection of experience days. You can get Christmas gifts, birthday and anniversary gifts for men and women and for every occasion all year round.
Stocking Fillers have hundreds of enticing toys and curios that can help make this year's Christmas stockings memorable and magical. Customers can buy many captivating Christmas gifts. You might want new ideas like The Squishy Mesh Ball or old favourites like Bubbles and Skipping Ropes, whatever you want the large and exciting range under a fiver you won't break the bank. Christmas only a couple of weeks away now so Stocking Fillers is a website you might want to make the most of this Christmas.
The Sports HQ is a thriving mail order and e-commerce business that manufactures and supplies famous golf equipment brands like Confidence, Palm Springs, Prosimmon, Texan Classics, Forgan and the top junior brand Young Gun. The Sports HQ also supplies fitness and exercise equipment, equestrian ranges, luggage, ice machines and outdoor pursuits ranges at low factory prices. The Sports HQ also offers CA Cricket equipment again at factory direct prices. Products are bought from all over the world in huge quantities and The Sports HQ sells direct to cutomers who can expect to save up to 85% on normal retail prices. All prices include VAT.
On the premium side, you can get exclusive brands such as Linea and Kenneth Cole to fashion renowned brands like Diesel, Hugo Boss and Armani at House of Fraser
. House of Fraser is a leading department store with thousands of products from designer clothes for women, men and children to luxurious homeware and electicals.
Urban Retro stock clothing for men from a variety of brands. They have the biggest range of GelaSkins in the UK. Designer vinyl toys are a speciality, but Urban Retro also sell plush toys and licensed toys from Sesame Street and Super Mario. Urban Retro sell a full range of lifestyle and home products including posters, art prints, mugs and magazines. If your order is over £40 delivery is free. Hardcloud bring the best online selection of clothing and accessories from Hurley, Volcom, Animal, Billabong Roxy, Etnies, Reef and more. Hardcloud is a unique store specialising in men's clothing, GelaSkins and designer toys. Venture Sport is a big outdoor equipment and clothing retailer selling over 97 leading brands including famous brands such as Craghoppers, Berghaus, Brasher and Vaude. They are all ready to go and 98% of orders are sent within 24 hours so can meet the Christmas deadline.
You can get books, CDs, Blu-rays, DVDs, Electricals, Clothing, Gadgets, Mobiles, Tickets, Toys, PCs and Computer & Console Games by all leading manufacturers at play.com. Over 1.8 million products are available at rock bottom prices.
Stocking Fillers have hundreds of enticing toys and curios that can help make this year's Christmas stockings memorable and magical. Customers can buy many captivating Christmas gifts. You might want new ideas like The Squishy Mesh Ball or old favourites like Bubbles and Skipping Ropes, whatever you want the large and exciting range under a fiver you won't break the bank. Christmas only a couple of weeks away now so Stocking Fillers is a website you might want to make the most of this Christmas.
The Sports HQ is a thriving mail order and e-commerce business that manufactures and supplies famous golf equipment brands like Confidence, Palm Springs, Prosimmon, Texan Classics, Forgan and the top junior brand Young Gun. The Sports HQ also supplies fitness and exercise equipment, equestrian ranges, luggage, ice machines and outdoor pursuits ranges at low factory prices. The Sports HQ also offers CA Cricket equipment again at factory direct prices. Products are bought from all over the world in huge quantities and The Sports HQ sells direct to cutomers who can expect to save up to 85% on normal retail prices. All prices include VAT.
On the premium side, you can get exclusive brands such as Linea and Kenneth Cole to fashion renowned brands like Diesel, Hugo Boss and Armani at House of Fraser
Urban Retro stock clothing for men from a variety of brands. They have the biggest range of GelaSkins in the UK. Designer vinyl toys are a speciality, but Urban Retro also sell plush toys and licensed toys from Sesame Street and Super Mario. Urban Retro sell a full range of lifestyle and home products including posters, art prints, mugs and magazines. If your order is over £40 delivery is free. Hardcloud bring the best online selection of clothing and accessories from Hurley, Volcom, Animal, Billabong Roxy, Etnies, Reef and more. Hardcloud is a unique store specialising in men's clothing, GelaSkins and designer toys. Venture Sport is a big outdoor equipment and clothing retailer selling over 97 leading brands including famous brands such as Craghoppers, Berghaus, Brasher and Vaude. They are all ready to go and 98% of orders are sent within 24 hours so can meet the Christmas deadline.
You can get books, CDs, Blu-rays, DVDs, Electricals, Clothing, Gadgets, Mobiles, Tickets, Toys, PCs and Computer & Console Games by all leading manufacturers at play.com. Over 1.8 million products are available at rock bottom prices.
Friday, 11 December 2009
UK FDI Over A Trillion
Foreign direct investment (FDI) by UK businesses in 2008 increased by £123.2bn to over a trillion for the first time. The International Investment Position was £1039.5bn at the end of 2008. Earnings from FDI totalled £73.3bn in 2008 nearly £21bn lower than 2007 and the lowest since 2004. Inward investment in 2008 was £43.4bn the lowest since 2004. Earnings of foreign companies in the UK fell by £39.4bn to £5.8bn in 2008, the lowest since 1991. Outward investment in 2008 was £85.8bn well down by £73.4bn on 2007 total of £159.1bn.
Petroleum Prices Push Up Producer Prices
The producer prices statistics for November show that input prices for home sales of manufactured goods went up 2.9% in the year to November (1.9% in October) and 0.2% in the month between October and November (0.9% same period 2008). Input prices for the manufacturing industry went up 4% over the year to November (0.4% in October) and 0.1% in the month between October and November (3.3% same period 2008).
The main contributions to the changes in the output price index over the year were petroleum products, tobacco and alcohol. Over the last month to November the main contributions were from petroleum products and food. The biggest contribution to the change in the input prices was from crude oil with a 30.3% rise in price, the largest annual rise since the 45.4% rise in September 2008, and imported parts ands equipment. Crude oil and fuel were the main contributors to the change in the index over the month.
The main contributions to the changes in the output price index over the year were petroleum products, tobacco and alcohol. Over the last month to November the main contributions were from petroleum products and food. The biggest contribution to the change in the input prices was from crude oil with a 30.3% rise in price, the largest annual rise since the 45.4% rise in September 2008, and imported parts ands equipment. Crude oil and fuel were the main contributors to the change in the index over the month.
Thursday, 10 December 2009
Decrease In Regional Trade Q3 2009
The value of UK exports for the year to September 2009 was down £22,183 or 9% to £223,800m compared to the year to September last year. The value of exports from England, Wales and N.Ireland fell by 8.4%, 8.3% and 8.4% respectively. Only Scotland saw an increase, of 3.4%, in Q3 2009. Within England the South East had the largest total value of exports with £37,849m and the smallest total was in the North East with exports of £9,423m. The number of UK exporters fell by 5.5% to 48,454. The largest decrease was in London with 7.5% to 8,154. No regions reported an increase in the number of exporters.
Imports also decreased for the year to September by £33,450m to £306,791m, or 9.8%. Imports fell in England, Wales and N.Ireland by 10.3%, 7.2% and 1.9% respectively and again only Scotland saw an increase, of 5.1%, in Q3 2009. The South East had the largest value of imports with £66,320m and the smallest total was in the North East with imports of £7,073m. The North East also saw the biggest percentage change with 24.9%. The East Midlands saw the smallest change with £15,489m. The number of importers decreased by 8.6% to 70,630 for Q3 2009. The largest percentage decrease was in London with 10.9% to 13,458. No regions reported an increase in the number of importers (HMRC - Regional Trade Statistics).
Imports also decreased for the year to September by £33,450m to £306,791m, or 9.8%. Imports fell in England, Wales and N.Ireland by 10.3%, 7.2% and 1.9% respectively and again only Scotland saw an increase, of 5.1%, in Q3 2009. The South East had the largest value of imports with £66,320m and the smallest total was in the North East with imports of £7,073m. The North East also saw the biggest percentage change with 24.9%. The East Midlands saw the smallest change with £15,489m. The number of importers decreased by 8.6% to 70,630 for Q3 2009. The largest percentage decrease was in London with 10.9% to 13,458. No regions reported an increase in the number of importers (HMRC - Regional Trade Statistics).
Port Statistics for Q3 2009 Down On Year
Port statistics for the third quarter of 2009 show that freight traffic at the major ports in the UK was 9% down over the year. Inward traffic was down 9% and outward by 7%. The last quarter was also down 9% but while inward traffic fell 10%, outward traffic was down 7%. In terms of unitised traffic, which includes all roll-on roll-off (RORO) units and lift-on lift-off containers, the number was down 12% over the year and 5% on the quarter.
Wealth Distribution In Great Britain
The 'Wealth of Great Britain' report published by the ONS tells us that the net wealth of private households totalled £9 trillion in 2006-8. It also tells us that it is not distributed very evenly. The wealthiest 20% of households accounted for 62% of the total wealth while the least wealthy 10% had negative total net wealth.
The median household net wealth was £204,500 which means that 50% have more and 50% have less than that figure. The Wealth and Assets survey also tells us that 39% of the total of private net wealth is in property and private pensions and 11% is in things like cars and antiques.
Wealth also varied according to location. The South East of England was the wealthiest area with a median wealth of £287,900 and the lowest median was in Scotland with £150,600.
Some people have never saved. A total of 35% of people reported that they had never saved with 21% saying they were likely to save in future. Many people do save and 50% reported that they had saved in the 12 months preceding the survey and 37% saying they had saved in the preceding month.
The majority of people, a total of 83%, expect a state pension and 59% expect an occupational or private pension. The survey also reported that 40% of men and 32% of women were contributing to a private pension.
The median household net wealth was £204,500 which means that 50% have more and 50% have less than that figure. The Wealth and Assets survey also tells us that 39% of the total of private net wealth is in property and private pensions and 11% is in things like cars and antiques.
Wealth also varied according to location. The South East of England was the wealthiest area with a median wealth of £287,900 and the lowest median was in Scotland with £150,600.
Some people have never saved. A total of 35% of people reported that they had never saved with 21% saying they were likely to save in future. Many people do save and 50% reported that they had saved in the 12 months preceding the survey and 37% saying they had saved in the preceding month.
The majority of people, a total of 83%, expect a state pension and 59% expect an occupational or private pension. The survey also reported that 40% of men and 32% of women were contributing to a private pension.
Wednesday, 9 December 2009
Last Survey Shows Film And TV Industry Growth
The last release in the ONS series of UK film and television survey statistics was released on the 9 December 2008. The UK film and television industry increased its exports of all services to £2,836m in 2008. It is an increase of 23% on 2007. Imports increased from £1,956m in 2007 to £2,215m in 2008 giving a balance of £621m in 2008 compared to £347m in 2007. The film industry's net surplus was £494m and the television industry's surplus was £198m.
The biggest importer of UK exports of services in the US with £736m or 55% followed by Europe with £432m or 32% and the rest of the world with 13%. The biggest percentage of imports was from Europe with 46% with a value of £384m. Imports from the US totalled £111m or 13%.
Television industry exports amounted to £1,101m in 2008 from £855m in 2007 and imports increased to £903m from £983m in 2007. The resulting balance is a surplus of £198m compared with £62m in 2007. The biggest importer of TV services from the UK was Europe with 57% totalling £624m. The US increased its spend to £211m or 19%. The rest of the world imported 24% of UK exports.
Imports to the UK from the US accounted for 62% of the UK total at a value of £555m. There was a slight increase in the imports from Europe to £273m in 2008 from £261m in 2007. There was an 87% response rate to the survey.
The biggest importer of UK exports of services in the US with £736m or 55% followed by Europe with £432m or 32% and the rest of the world with 13%. The biggest percentage of imports was from Europe with 46% with a value of £384m. Imports from the US totalled £111m or 13%.
Television industry exports amounted to £1,101m in 2008 from £855m in 2007 and imports increased to £903m from £983m in 2007. The resulting balance is a surplus of £198m compared with £62m in 2007. The biggest importer of TV services from the UK was Europe with 57% totalling £624m. The US increased its spend to £211m or 19%. The rest of the world imported 24% of UK exports.
Imports to the UK from the US accounted for 62% of the UK total at a value of £555m. There was a slight increase in the imports from Europe to £273m in 2008 from £261m in 2007. There was an 87% response rate to the survey.
Hardly Any Change In Shop Prices
Shop price inflation was marginally higher in November with an increase of 0.2% after a flat October. Food inflation incrased to 2.8% in November from 2.5% in October. Non-food inflation was actually a deflation of 1.2% in November compared with a deflation of 1.3% in October. These shop prices are almost the same as last year. The GDP deflator at market prices is reported to be 2.45% for 2009-9.
Trade In Goods Is Down, Services Unchanged
The UK trade deficit in the value of goods and services grew from £3.1bn in September to £3.2bn in October. The difference was in value of the trade in goods where the deficit increased from £6.9bn in September to £7.1bn in October. The trade surplus in services was unchanged over the month at £3.9bn. Export and import prices both rose by 1.6%.
The volume of exports was up 3.8% and imports by 4.3% inOctober compared with September. There were big increases in the export by value of oil, cars, intermediate goods and semi-manufactured goods other than chemicals between October and September. Imports of chemicals, consumer goods and capital goods also increased significantly in terms of commodity value during the month. The value of exports of chemicals, cars, semi-manufactured goods and intermediate goods has also significantly increased as has the imports of cars, chemicals, intermediate goods and consumer goods over the year.
Trade in goods with EU countries showed a deficit of £3.6bn, up £0.4bn as exports rose by £0.4bn to £11.3bn and imports rose £0.8bn to £14.9bn. The deficit in trade with non-EU countries narrowed to £3.5bn from £3.8bn in September. Within the G7 countries, imports from the US went up £0.4bn and imports from Norway fell £0.2bn. There were no export movements over £0.2bn.
As the prices for both imports and exports were unchanged in October, the terms of trade remained the same as September. Over the quarter import prices increased by 1.6% and export prices by 2% giving an increase in the terms of trade. The balance on trade in oil was in deficit by £0.1bn from £0.5bn in September.
The surplus on trade in services as unchanged in October from September at £3.9bn. Exports rose to £12.9bn and imports rose to £9bn. Over the quarter the surplus widenend to £12bn from £11.4bn.
The volume of exports was up 3.8% and imports by 4.3% inOctober compared with September. There were big increases in the export by value of oil, cars, intermediate goods and semi-manufactured goods other than chemicals between October and September. Imports of chemicals, consumer goods and capital goods also increased significantly in terms of commodity value during the month. The value of exports of chemicals, cars, semi-manufactured goods and intermediate goods has also significantly increased as has the imports of cars, chemicals, intermediate goods and consumer goods over the year.
Trade in goods with EU countries showed a deficit of £3.6bn, up £0.4bn as exports rose by £0.4bn to £11.3bn and imports rose £0.8bn to £14.9bn. The deficit in trade with non-EU countries narrowed to £3.5bn from £3.8bn in September. Within the G7 countries, imports from the US went up £0.4bn and imports from Norway fell £0.2bn. There were no export movements over £0.2bn.
As the prices for both imports and exports were unchanged in October, the terms of trade remained the same as September. Over the quarter import prices increased by 1.6% and export prices by 2% giving an increase in the terms of trade. The balance on trade in oil was in deficit by £0.1bn from £0.5bn in September.
The surplus on trade in services as unchanged in October from September at £3.9bn. Exports rose to £12.9bn and imports rose to £9bn. Over the quarter the surplus widenend to £12bn from £11.4bn.
Tuesday, 8 December 2009
Retail Build Up To Christmas
Retail sales were up on last November on a like-for-like basis 1.8% and on a total basis by 4.1%. Food sales grew more slowly again reflecting lower food price inflation, clothng and footwear slowed and homewares and furniture sales increased further. Internet, mail-order and phone sales increased by 16.9% compared to last year (BRC - Retail Sales Monitor).
Falls In Manufacturing Output In October
Another survey from the ONS reports that manufacturing output has fallen in the three months to October by 0.5%. Between September and October manufacturing output did not significantly change.
There were falls in 12 of the 13 manufacturing sub-sectors including food, drink and tobacco, fuels, chemicals and metals, wood and wood products, pulp, paper, printing and publishing. There were significant rises in textiles, leather and clothing, transport equipment, electrical and optical and 'other' manufacturing. Manufacturing output is now 9.9% lower than the same quarter last year.
The index of production fell by 8.4% in October compared with October 2008. The index of manufacturing fell by 7.8% over the same period. The largest falls in manufacturing were in machinery and equipment at 17.8% and the base metals and metal products sector at 15.7%.
There were falls in 12 of the 13 manufacturing sub-sectors including food, drink and tobacco, fuels, chemicals and metals, wood and wood products, pulp, paper, printing and publishing. There were significant rises in textiles, leather and clothing, transport equipment, electrical and optical and 'other' manufacturing. Manufacturing output is now 9.9% lower than the same quarter last year.
The index of production fell by 8.4% in October compared with October 2008. The index of manufacturing fell by 7.8% over the same period. The largest falls in manufacturing were in machinery and equipment at 17.8% and the base metals and metal products sector at 15.7%.
Weak Recovery Reflected In December Demand
Manufacturers are saying that the recovery they experienced over the last few months is very fragile and it is reflected in the recent downturn in output. A slight balance of respondents taking part in the latest CBI Industrial Trends survey report weak demand and order books below normal. The survey also reported the balance of adequate stocks has fallen slightly. Prices are expected to fall in line with the lst two months.
Friday, 4 December 2009
Internet Sales And Connectivity Still On The Up
Internet sales in 2008 went up by 36.6% to £222.9bn from £163.2bn in 2007. These were comprised of £104.7bn website sales and £118.2bn electronic data interchange (EDI) sales. The Internet sales represented 9.8% of all sales of UK non-financial sector businesses. The proportion of businesses using the Internet for selling purposes went up to 15.2% in 2008 from 14.4% in 2007. Website sales accounted for 12.8%.
Employees are increasingly using the Internet more from their workplaces. There were 7.8m workplace users or 45.5% of employees (within the scope of the survey) in 2008. Internet access was available to 80% of people who used computers at work. New technologies are also being used more. Wireless LANs (WLAN) are increasing in number as is the adoption of radio frequency identification (RFID). This year is the first time RFID has been measured with 1.4% of businesses using the technology. The bigger companies of over 1000 employees (12.5%) used the technology more than the small businesses (1%).
The wholesale, retail and catering sector had the biggest piece of the pie with £106.6bn. The majority of sales were to customers in the UK at £281.3bn, 83% of the total. Sales to the EU totalled £36.8bn or 11% and sales to the rest of the world were £20.1bn. The number of businesses with a website increased to 73.5% in 2008, but only 12.6% used them for sales. The biggest proportion of them were in the post and telecommunications sector with 23.5%.
Mobile Internet connections are continuing to increase. The number of businesses using that kind of connection has increased to 37.6% while digital subscription remained the most popular connection method. The majority of businesses adopting mobile access are large businesses at over 87% with small businesses on 32%.
Businesses are using the Internet to obtain information (62%) and forms (58%) from the public authorities (66%). Size of business is again linked to interaction with public authorities. In 2008, 62% of businesses with 10-49 staff interact online compared with 87% of companies with over 1000 employees.
Supply chain management systems are used by more and more businesses. Enterprise resource planning systems are used by 6% with bigger businesses 10 times more likely to use ERP software than SMEs. Customer relationship management (CRM) systems are used by 14% to share information about customers and by 12.4% for information analysis for marketing.
These statistics are from the Office for National Statistics (ONS).
Employees are increasingly using the Internet more from their workplaces. There were 7.8m workplace users or 45.5% of employees (within the scope of the survey) in 2008. Internet access was available to 80% of people who used computers at work. New technologies are also being used more. Wireless LANs (WLAN) are increasing in number as is the adoption of radio frequency identification (RFID). This year is the first time RFID has been measured with 1.4% of businesses using the technology. The bigger companies of over 1000 employees (12.5%) used the technology more than the small businesses (1%).
The wholesale, retail and catering sector had the biggest piece of the pie with £106.6bn. The majority of sales were to customers in the UK at £281.3bn, 83% of the total. Sales to the EU totalled £36.8bn or 11% and sales to the rest of the world were £20.1bn. The number of businesses with a website increased to 73.5% in 2008, but only 12.6% used them for sales. The biggest proportion of them were in the post and telecommunications sector with 23.5%.
Mobile Internet connections are continuing to increase. The number of businesses using that kind of connection has increased to 37.6% while digital subscription remained the most popular connection method. The majority of businesses adopting mobile access are large businesses at over 87% with small businesses on 32%.
Businesses are using the Internet to obtain information (62%) and forms (58%) from the public authorities (66%). Size of business is again linked to interaction with public authorities. In 2008, 62% of businesses with 10-49 staff interact online compared with 87% of companies with over 1000 employees.
Supply chain management systems are used by more and more businesses. Enterprise resource planning systems are used by 6% with bigger businesses 10 times more likely to use ERP software than SMEs. Customer relationship management (CRM) systems are used by 14% to share information about customers and by 12.4% for information analysis for marketing.
These statistics are from the Office for National Statistics (ONS).
Thursday, 3 December 2009
Music Downloads
Downloading music is occasionally a hot topic in the media. One of the original digital music services Napsterg(17462936)a(1580842))
is evolving again. Napster Unlimited is an offering that purports to bring a combination of unlimited streaming and MP3 for £5 per month. Napster gives unlimited access to a one of the largest online music catalogues in the world. You can also download 5 high quality MP3s of your choice per month. You also get full access their playlists and radio stations. The package is one of the best on the market.
iTunesg(11703474)a(1580842))
is another world leader in the music download market. The iTunes Music Store has sold over 1 billion songs world-wide. iTunes has a strong market position in the UK with a market share of over 80% (Official Charts Company). The iTunes Music Store offers a diverse download catalogue featuring millions of songs, music videos, podcasts and audiobooks. Something for everybody.
iTunes
Christmas Travel Ideas
Net Flights is the rebranded Airline Network. It is a leading independent travel company and has been operating in the travel industry for over 20 years offering access to discount airfares. To access the website click here
and you can browse the many products on offer. lastminute.com is one of Europe's largest and most trusted e-commerce brands that goes back to the early days of the popular Internet. You can click here
to access the varied range of great value deals on the lastminute.com website.
Wednesday, 2 December 2009
Lower Quarterly Profits In The Service Sector
The service sector saw lower profits in the quarter due to an unexpected sales dip that kept business levels at well below normal according to the latest CBI Service Sector survey.
Business and professional services measures fell when they had been expected to strengthen further. profits fell for the sixth quarter in a row. Consumer services volume and value fell sharply and by more than expected causing a dip in profits.
Both the business and professional sector and the consumer services sector put the falls down to lack of demand or sales which they say is also the biggest constraint on future growth. Fund raising was also cited as a key concern.
Business and professional services measures fell when they had been expected to strengthen further. profits fell for the sixth quarter in a row. Consumer services volume and value fell sharply and by more than expected causing a dip in profits.
Both the business and professional sector and the consumer services sector put the falls down to lack of demand or sales which they say is also the biggest constraint on future growth. Fund raising was also cited as a key concern.
New Business Demography Figures For 2008
The Office for National Statistics (ONS) has begun publishing details of business start-ups, closures and survival rates called 'Business Demography:Enterprise Births and Deaths'. The BERR is discontinuing the series, 'Business Start-ups and Closures: VAT registrations and de-registrations'. The last publication will be the 2008 update after that it will be replaced with the new ONS series. The new business demography statistics are considered more comprehensive. There are methodological differences.
The European Commission brought out a new regulation in February that requires National Statistics Institutes to produce statistics on business births, deaths and survival rates. They will produce statistics using a common methodology and definitions which will ensure greater comparability across the EU. One of the main differences is the inclusion of PAYE registered units, that is, employing businesses which are not VAT registered. It will provide a more comprehensive view of business start-up activity.
The new business demography statistics will show more business births and deaths than the BERR VAT-based statistics. The broad trend of volume and rate of births and deaths are the same but the peaks appear slightly earlier in the BERR series. Both ONS and BERR sets of statistics show differences between volumes and rates, but in both, the highest rates of births and deaths seem to be in London and lowest in Northern Ireland.
The statistics for 2008 published on Monday tell us that there were 270,000 business births in the UK in 2008, a birth rate of 11.6%. In 2007, there were 281,000 births (12.3%). That means there was a decrease of 3.7% in the number of business births. There were 'provisionally' 219,000 business seaths, a rate of 9.4% in 2008 compared with 223,000 deaths in 2007, a rate of 9.8%. There was a 1.8% decrease in the number of business deaths.
Active businesses numbered over 2.3 million in the UK during 2008, down 46,000 on 2007. The highest rate of business births was in business administration and support services with 16.2% followed by professional, scientific and technical services at 14.7% and information and communication at 14.6%. The highest overall number of business births was in professional, scientific and technical with 54,000. The highest death rate was in accomodation and food services at 13.1%, following this came finance and insurance at 11% and business administration and supprt services at 10.8%. Construction had the largest overall number of deaths at 33,000 then profesional, scientific and technical with over 32,000.
The business survival rate is based on a five-year survival rate. In 2008, the 5=year survival rate was 46.6%. Northern Ireland had the largest 5-year survival rate in the UK and London the lowest at 39.4%. Hea;lth had a survival rate of 63% and education 60.3% but hotels and catering were lowest with 34.2%.
Further details on the methodology can be obtained from the ONS website.
The European Commission brought out a new regulation in February that requires National Statistics Institutes to produce statistics on business births, deaths and survival rates. They will produce statistics using a common methodology and definitions which will ensure greater comparability across the EU. One of the main differences is the inclusion of PAYE registered units, that is, employing businesses which are not VAT registered. It will provide a more comprehensive view of business start-up activity.
The new business demography statistics will show more business births and deaths than the BERR VAT-based statistics. The broad trend of volume and rate of births and deaths are the same but the peaks appear slightly earlier in the BERR series. Both ONS and BERR sets of statistics show differences between volumes and rates, but in both, the highest rates of births and deaths seem to be in London and lowest in Northern Ireland.
The statistics for 2008 published on Monday tell us that there were 270,000 business births in the UK in 2008, a birth rate of 11.6%. In 2007, there were 281,000 births (12.3%). That means there was a decrease of 3.7% in the number of business births. There were 'provisionally' 219,000 business seaths, a rate of 9.4% in 2008 compared with 223,000 deaths in 2007, a rate of 9.8%. There was a 1.8% decrease in the number of business deaths.
Active businesses numbered over 2.3 million in the UK during 2008, down 46,000 on 2007. The highest rate of business births was in business administration and support services with 16.2% followed by professional, scientific and technical services at 14.7% and information and communication at 14.6%. The highest overall number of business births was in professional, scientific and technical with 54,000. The highest death rate was in accomodation and food services at 13.1%, following this came finance and insurance at 11% and business administration and supprt services at 10.8%. Construction had the largest overall number of deaths at 33,000 then profesional, scientific and technical with over 32,000.
The business survival rate is based on a five-year survival rate. In 2008, the 5=year survival rate was 46.6%. Northern Ireland had the largest 5-year survival rate in the UK and London the lowest at 39.4%. Hea;lth had a survival rate of 63% and education 60.3% but hotels and catering were lowest with 34.2%.
Further details on the methodology can be obtained from the ONS website.
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