The seasonally adjusted current account deficit for Q4 2009 was £1.7bn equivalent to -0.5% GDP, compared with Q3 revised £5.9bn (-1.7%). The deficit on trade in goods and services was -£8.6bn or -2.5% of GDP, and -2.2% in previous quarter. The surplus on income is 2.9% of GDP compared with 1.5% in Q3.
In Q4 there was a deficit of £8.2bn with EU compared with £3.9bn Q3. The decrease in deficit was mainly due to higher surpluses on income and trade in services with a lower deficit on current transfers partly offset by an increase in deficit on trade in goods. The current account with non-EU countries shows a surplus of £6.5bn compared with £2.1bn in the previous quarter. The change is due to a surplus on income increase of £5bn to £10.3bn, the surplus on trade in services increased by £0.3bn to £12.4bn and the deficit on current transfers decreased by £0.2bn to £3.3bn due to a fall in debits from UK payments to EU institutions, though these statistics can be erratic. The annual deficit on current transfers was £14.6bn in 2009 an increase of £0.6bn. The deficit on trade in goods increased by £1.2bn to £21bn.
The capital account recorded a surplus of £1bn in Q4, up £0.1bn on Q3. The surplus on the capital account rose from £3.2bn in 2008 to £3.6bn in 2009. The financial account showed a net inflow of £6.1bn in Q4 compared with a net outflow of £1.4bn in Q3. There was a net disinvestment abroad of £15.3bn and a net disinvestment in the UK of £9.6bn after £16.7bn in Q3 2009. Direct investment abroad fell to £2.8bn from £4.9bn and direct investment in the UK increased by £15.1bn to £21.1bn due mainly to higher investment in equity capital. Portfolio investment abroad amounted to a net investment of £22.9bn in Q4 after £53.6bn in Q3. Total portfolio investment in the UK amounted to a net investment of £14.5bn in Q4 2009 following a net investment of £32.2bn in Q3. Financial derivatives had net settlements of £5.3bn. The capital balance was £973bn.
In 2009 current account in deficit by £18.4bn compared with £22bn in 2008. The deficit amounts to -1.3% of GDP compared with -1.5% in 2008. The deficit of trade in goods and services for 2009 is -2.3% GDP compared with -2.6% in 2008. In 2009 the UK recorded a deficit of £19.5bn with the EU, compared with £5.6bn in 2008 and there was a surplus of £1.1bn with non-EU countries after a deficit of £16.4bn in 2008.
Direct investment abroad in 2009 amounted to £11.9bn compared to £87.6bn in 2008. Direct investment in the UK in 2009 amounted to £29.3bn compared with £49.8bn in 2008. Portfolio investment abroad in 2009 was £154.4bn following a net disinvestment of £123.5bn in 2008. Investment in the UK increased to £188.3bn in 2009 from £185.8bn in 2008. Financial derivatives in 2009 reported net settlements of £14.5bn compared with £35.5bn in 2008.
Non-seasonally adjusted figures for Q4 2009 show a current balance of -£1.8bn, a capital balance of £972bn, net financial transactions of £6.15bn and net errors and omissions of -£5.32bn to balance the three accounts.
Wednesday, 31 March 2010
GDP Figures Revised Down Again
The figure for GDP volume for the fourth quarter of 2009 has been revised again to 0.4% from 0.3% last month. The chained volume GDP index for Q4 was 100.9 and 100.4 for Q3. At current market prices the GDP index was 112.6 and in Q3 it was 111.3. In 2009 as a whole volume of GDP fell by 4.9%. Total volume of production rose by 0.4% and manufacturing output volume by 0.8%. The agricultural sector ouput fell by 1.5% compared with the previous quarter. Construction output decreased by 0.9% and services increased by 0.5%.
The household saving ratio was 7% compared with 8.4% in the last quarter. Real household disposable income fell by 1%. In terms of expenditure categories gross domestic expenditure increased by 0.8%, household final consumption increased by 0.4% and government final consumption increased by 1%. The volume of household spnding is now 2.1% lower than in 2008. Government final consumption for the year 2009 increased by by 2.2%. The GDP deflator at market prices increased by 0.7% and is 1.4% above the level it was at in 2008.
Gross fixed capital formation fell by 2.7% partly due to a fall in business investment of 4.3%. General goverment investment increased by 2.8%, existing buildings and dwellings in public corporations fell by 71.3% and in the private sector existing buildings and dwellings increased by 10.3%. Over the year as a whole gross fixed capital formation decreased by 14.9% compared with -3.5% in 2008.
The household saving ratio was 7% compared with 8.4% in the last quarter. Real household disposable income fell by 1%. In terms of expenditure categories gross domestic expenditure increased by 0.8%, household final consumption increased by 0.4% and government final consumption increased by 1%. The volume of household spnding is now 2.1% lower than in 2008. Government final consumption for the year 2009 increased by by 2.2%. The GDP deflator at market prices increased by 0.7% and is 1.4% above the level it was at in 2008.
Gross fixed capital formation fell by 2.7% partly due to a fall in business investment of 4.3%. General goverment investment increased by 2.8%, existing buildings and dwellings in public corporations fell by 71.3% and in the private sector existing buildings and dwellings increased by 10.3%. Over the year as a whole gross fixed capital formation decreased by 14.9% compared with -3.5% in 2008.
Sales Growth On The High Street Expected To Continue
Retailers have seen growth for the second month running according to the CBI Distributive Trades Survey for March. The trend is expected to continue through Easter. Sales volumes were reported to be higher than the same time last year as expected. The volume of orders also grew for the second month in a row. Stock levels are more than adequate to meet demand. Very strong sales were reported by grocers, durable household goods, clothing, furniture and carpet retailers. Hardware, china and DIY reported falling sales for the second month. The wholesale sector also saw a fall in sales against expectations. There was strong sales growth in the food and drink sector but agricultural machinery sales and builders merchants had a difficult month. Motor traders also had another bad month due to a drop in vehicle sales while parts and accessories sales grew for a second month.
Friday, 26 March 2010
Increase In R & D Spend
Gross domestic expenditure on research and development increased by 3% in 2008 to £25.6bn from £24.9bn in 2007. In real terms it is about the same. R & D expenditure in 2008 amounted to about 1.79% of GDP which was a small increase on the 1.76% of 2007.
The main performers carrying out R & D in the UK in 2008 were business enterprise up 2% on 2007 to £15.9bn, higher education up 4% to £6.8bn, Government up 4% to £1.3bn research councils up 1% to £1bn and private non-profit organisations up 8% to £0.6bn.
Business enterprise was also main provider of funds with a total of £11.6bn amounting to 45% of all R & D, £2.3bn of which went abroad. The Government provided 31% of funding of all R & D. The figure includes higher education and research councils.
The main performers carrying out R & D in the UK in 2008 were business enterprise up 2% on 2007 to £15.9bn, higher education up 4% to £6.8bn, Government up 4% to £1.3bn research councils up 1% to £1bn and private non-profit organisations up 8% to £0.6bn.
Business enterprise was also main provider of funds with a total of £11.6bn amounting to 45% of all R & D, £2.3bn of which went abroad. The Government provided 31% of funding of all R & D. The figure includes higher education and research councils.
Business Investment 4.3% Down
Business investment is estimated to have fallen by 4.3% in the final quarter of 2009 from the previous quarter and by 23.5% on the same quarter last year. The total seasonally adjusted figure for investment is £27.3bn. The estimate for manufacturing by both private and public sector is a decrease of 5% on the quarter and 32.3% on the year with a figure of £2.4bn.
Services investment fell again in the fourth quarter and fell in every quarter of 2009. They are estimated to have fallen by 29.1% compared with Q4 2008. Construction fell by 21.8% after increases in Q2 and Q3, other production is estimated to have risen by 13.8%. Public corporations' revised estimate for non-manufacturing business investment is an increase of 0.6% on the quarter and 1.8% on the year. The Q4 figure is £944m.
Investment in computer software and hardware is continuing to attract the interest of statisticians and is of increasing importance as a category of investment. The ONS figures only respresent the private sector. Total investment in computer software in Q4 2009 is estimated to have been £1.5bn, compared with £1.4bn in the last quarter and £1.7bn last year. The total for computer hardware acquisitions less disposals at current prices is estimated to have been £1.4bn, compared with £1.38bn last quarter and £1.79bn last year. These estimates suggest that investments in computer software and hardware amounts to approximately 10% of all private sector business investment (5% software, 4.75% hardware). In manufacturing investment in computer hardware and software is about 9.5% of total investment and in services it amounts to about 11.75%.
Services investment fell again in the fourth quarter and fell in every quarter of 2009. They are estimated to have fallen by 29.1% compared with Q4 2008. Construction fell by 21.8% after increases in Q2 and Q3, other production is estimated to have risen by 13.8%. Public corporations' revised estimate for non-manufacturing business investment is an increase of 0.6% on the quarter and 1.8% on the year. The Q4 figure is £944m.
Investment in computer software and hardware is continuing to attract the interest of statisticians and is of increasing importance as a category of investment. The ONS figures only respresent the private sector. Total investment in computer software in Q4 2009 is estimated to have been £1.5bn, compared with £1.4bn in the last quarter and £1.7bn last year. The total for computer hardware acquisitions less disposals at current prices is estimated to have been £1.4bn, compared with £1.38bn last quarter and £1.79bn last year. These estimates suggest that investments in computer software and hardware amounts to approximately 10% of all private sector business investment (5% software, 4.75% hardware). In manufacturing investment in computer hardware and software is about 9.5% of total investment and in services it amounts to about 11.75%.
Retail Sales Up In February
The value of retail sales rose by 4.9% this year as against February 2009. The index was 114.4 compared with 112.3 in January. There was an increase of 1.9% on last month and 3.8% on the last three months. If fuel is excluded the increase was 5.3%. The volume of retail sales rose by 3.5% compared with February 2009. The index was 112.1 and 114.3 excluding fuel. The increase on last month was 2.1% and 1.6% on the previous three months. If fuel is excluded the increase in volume was 5.4% (Figures seasonally adjusted). The deflator was 1.6 and excluding fuel it was -0.1.
Looking at the data in more detail, the predominantly food stores increased their sales value by 0.9% on last year and non-food stores increased value by 8.1%. Non-specialised stores increased by 9.1%, textile, clothing and footwear increased by 6.5% and other stores by 11.1%. Household goods increased sales value by 5.4% over the year and a record 9.7% month on month. Non-store retailing increased by a record 21.2% on last year. Auto fuel was 1.5% up on last year.
The 3.5% increase in volume was mainly due to an increase in non-store retailing of 20.4%, non-food stores at 8.4% within which non-specialised and other stores increased by 9.7% and textile, clothing and footwear increased by 9.5%. Household goods increased in volume by 4.4% over the year and by 11.2 on last month, the highest monthly increase on record. These increases in volume were offset by automotive fuel which was 15.7% lower than last year. Prices of retail sales were estimated to be 1.6% higher than February 2009.
Internet retail sales average weekly value was £414m or about 8% of all retail sales, excluding fuel. The total value of retail sales in February was estimated to be £22.9bn. The estimated weekly value of retail sales in February was £5.7bn (Figures not seasonally adjusted).
Looking at the data in more detail, the predominantly food stores increased their sales value by 0.9% on last year and non-food stores increased value by 8.1%. Non-specialised stores increased by 9.1%, textile, clothing and footwear increased by 6.5% and other stores by 11.1%. Household goods increased sales value by 5.4% over the year and a record 9.7% month on month. Non-store retailing increased by a record 21.2% on last year. Auto fuel was 1.5% up on last year.
The 3.5% increase in volume was mainly due to an increase in non-store retailing of 20.4%, non-food stores at 8.4% within which non-specialised and other stores increased by 9.7% and textile, clothing and footwear increased by 9.5%. Household goods increased in volume by 4.4% over the year and by 11.2 on last month, the highest monthly increase on record. These increases in volume were offset by automotive fuel which was 15.7% lower than last year. Prices of retail sales were estimated to be 1.6% higher than February 2009.
Internet retail sales average weekly value was £414m or about 8% of all retail sales, excluding fuel. The total value of retail sales in February was estimated to be £22.9bn. The estimated weekly value of retail sales in February was £5.7bn (Figures not seasonally adjusted).
Inflation Down to 3%
The CPI rose by 3% in the year to February to 112.9. In January it had been 3.5%. The RPI in February was 219.2 an increase of 3.7%. The RPI excluding mortgage interest payments was 4.2% up, down from 4.6% in January.
Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.
Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.
Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.
Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.
Wednesday, 24 March 2010
CPI At 3% In February
The CPI rose by 3% in the year to February to 112.9. In January it had been 3.5%. The RPI in February was 219.2 an increase of 3.7%. The RPI excluding mortgage interest payments was 4.2% up, down from 4.6% in January.
Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.
Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.
Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.
Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.
Monday, 22 March 2010
Product News - Fashion & Gifts
The House of Fraser
is a good place for Rare Fashion
.
At the website of the House of Fraser you can browse a range that includes exclusive brands such as Linea and Kenneth Cole and fashion renowned brands such as Hugo Boss, Armani and Diesel.
The House of Fraser is one of Britain’s leading premium department stores and has thousands of products from clothing for men, women and children to homeware and electricals. Seasonal gifts are also available - Lindt Easter egg, £8.99
Hardcloud strive to bring the best online selection of clothing and accessories from a music, skate and surf perspective. The web site is easy to use and they stock the best brands. Urban Retro also stock T-shirts and other branded clothing. They also specialise in toys, lifestyle and art products, mugs and magazines. Venture Sport sells all the leading brands of outdoor equipment and clothing. It is one of the largest retailers of outdoor equipment. They say 98% of orders are sent within 24 hours.
The Gift Experience has a comprehensive selection of gifts and experience days for special occasions, birthday and anniversary celebrations, you can obtain gifts for men and women all year round.
At the website of the House of Fraser
The House of Fraser
Hardcloud strive to bring the best online selection of clothing and accessories from a music, skate and surf perspective. The web site is easy to use and they stock the best brands. Urban Retro also stock T-shirts and other branded clothing. They also specialise in toys, lifestyle and art products, mugs and magazines. Venture Sport sells all the leading brands of outdoor equipment and clothing. It is one of the largest retailers of outdoor equipment. They say 98% of orders are sent within 24 hours.
The Gift Experience has a comprehensive selection of gifts and experience days for special occasions, birthday and anniversary celebrations, you can obtain gifts for men and women all year round.
Thursday, 18 March 2010
Public Sector Finances For February
The public sector finances bulletin from the ONS says that there was a current budget deficit of £6bn in February 2010, net borrowing of £12.4bn and net debt of £857.5bn at the end of February 2010. This compares with a current budget deficit of £2.5bn, net borrowing of £8.8bn and net debt of £712.4bn in February 2009.
The public sector net borrowing figure is represented by net investment of £6.3bn and the current budget deficit of £6bn compared to the £2.5bn deficit of 2009 accounts for the change in the borrowing figure. The components of public sector borrowing are central government at £11.3bn, local government at £2.2bn and public corporations at-£1.1bn. There is quite a difference in borrowing between April-February 2008-9 and 2009-2010 with an increase of £69bn in central government borrowing accounting for the vast majority of it.
Net borrowing excluding financial interventions for Q3 2009 was £49.4bn and net debt excluding financial interventions at the end of December 2009 increased to £741.6bn from £596.9bn in the previous year.
Total current receipts were £42.6bn in February 2010 comapred with £41.1bn in 2009. Total current expenditure was £48.6bn in February 2010 compared with £42.3bn in 2009. The public sector net cash requirement was £7.7bn, £3bn more than in February 2009.
The public sector net borrowing figure is represented by net investment of £6.3bn and the current budget deficit of £6bn compared to the £2.5bn deficit of 2009 accounts for the change in the borrowing figure. The components of public sector borrowing are central government at £11.3bn, local government at £2.2bn and public corporations at-£1.1bn. There is quite a difference in borrowing between April-February 2008-9 and 2009-2010 with an increase of £69bn in central government borrowing accounting for the vast majority of it.
Net borrowing excluding financial interventions for Q3 2009 was £49.4bn and net debt excluding financial interventions at the end of December 2009 increased to £741.6bn from £596.9bn in the previous year.
Total current receipts were £42.6bn in February 2010 comapred with £41.1bn in 2009. Total current expenditure was £48.6bn in February 2010 compared with £42.3bn in 2009. The public sector net cash requirement was £7.7bn, £3bn more than in February 2009.
Defra Slaughter Statistics
The numbers of cattle, sheep and pigs slaughtered in the UK were released by Defra today. Cattle slaughterings are up 2% to 163,000 head, sheep 15% lower at 773,000 and pigs were 4% higher at 704,000 in February 2010 than they were in February 2009.
The monthly volumes of meat produced UK show that 71,000 tonnes of beef, 18,000 tonnes of mutton and lamb and 58,000 tonnes of pigmeat were produced in the UK in February. These statistics refer to meat produced for human consumption in the UK but includes livestock imported into the UK for slaughter.
In addition to all the 'clean' meat slaughterings, 43,000 tonnes of meat was produced from cows and adult bulls, 4,000 tonnes from calves, 136,000 tonnes of ewe and ram meat and 18,000 tonnes of boar and sow meat was produced.
The monthly volumes of meat produced UK show that 71,000 tonnes of beef, 18,000 tonnes of mutton and lamb and 58,000 tonnes of pigmeat were produced in the UK in February. These statistics refer to meat produced for human consumption in the UK but includes livestock imported into the UK for slaughter.
In addition to all the 'clean' meat slaughterings, 43,000 tonnes of meat was produced from cows and adult bulls, 4,000 tonnes from calves, 136,000 tonnes of ewe and ram meat and 18,000 tonnes of boar and sow meat was produced.
Wednesday, 17 March 2010
Fall In Unemployment In January
The unemployment rate fell by 0.1 to 7.8% in the quarter to January 2010 and the number of unemployed people fell by 33,000 to 2.45m. It is the first quarterly fall in the unemployment rate since May 2008 and the biggest fall in the number of unemployed since July 2007. The number of long-term unemployed increased however by 61,000 to 687,000 the biggest number since the three months to August 1997. The number of unemployed men and women both fell in the quarter, men by 20,000 to 1.51m and women by 13,000 to 938,000. The claimant count in February 2010 was down 32,300 to 1.59m or 4.9%.
The employment rate was 77% and the number of people in employment fell by 54,000 to 28.86m. The number of employees and self-employed people working part-time becuase they could not find a full time job increased 20,000 over the quarter. The working age employment rate was 72.2% down 0.3% on the previous quarter and 1.8% on the year. For men of working age the employment rate was 75% and women 69.2%. Full-time employment fell to 21.16m and part-time was unchanged at 7.7m. The public sector employed 6.1m and the private sector 22.76m.
There were 30.75m workforce jobs in December 2009 a decrease of 119,000 over the quarter and 533,00 over the year. The largest decrease over the quarter was in distribution, hotels and restaurants where the number of jobs fell by 62,000. There were 480,000 vacancies and 1.8 vacancies per 100 employee jobs.
The total number of hours worked per week in the three months to January 2010 fell 4.6m to 908.2m and the average weekly hours worked over the same period was down 0.1 to 31.5. Productivity was 3.1% lower than a year ago and wage costs increased by 4.1%. The working age inactivity rate was 21.5% up 0.4% and the number of economically inactive people of working age was up by 149,000 over the quarter and 371,000 over the year to 8.16m. The inactivity was increased mainly by the 2.31m students not in the labour market, an increase of 93,000 on the quarter.
Average total weekly earnings was £442/week including bonuses in January 2010 and average regular pay excluding bonuses was £426/week. Total pay increased by 0.9% and regular pay by 1.4% in January. Private sector pay was £426/week and excluding bonuses was £416/week. Private sector total pay was unchanged on last year and regular pay rose by 0.4%. Public sector average total pay was £461/week and regular pay was £457/week in January 2010. Public sector total pay went up by 3.8% and regular 4%.
Nine stoppages cost 4,000 working days in January. In the year to January the figure was 451,000 working days from 100 stoppages. The number of redundancies decreased by 22,000 to 168,000 that is a rate of 6.7 per 1000 employees down by 0.9% on the previous qaurter and 4.1% on the year.
The employment rate was 77% and the number of people in employment fell by 54,000 to 28.86m. The number of employees and self-employed people working part-time becuase they could not find a full time job increased 20,000 over the quarter. The working age employment rate was 72.2% down 0.3% on the previous quarter and 1.8% on the year. For men of working age the employment rate was 75% and women 69.2%. Full-time employment fell to 21.16m and part-time was unchanged at 7.7m. The public sector employed 6.1m and the private sector 22.76m.
There were 30.75m workforce jobs in December 2009 a decrease of 119,000 over the quarter and 533,00 over the year. The largest decrease over the quarter was in distribution, hotels and restaurants where the number of jobs fell by 62,000. There were 480,000 vacancies and 1.8 vacancies per 100 employee jobs.
The total number of hours worked per week in the three months to January 2010 fell 4.6m to 908.2m and the average weekly hours worked over the same period was down 0.1 to 31.5. Productivity was 3.1% lower than a year ago and wage costs increased by 4.1%. The working age inactivity rate was 21.5% up 0.4% and the number of economically inactive people of working age was up by 149,000 over the quarter and 371,000 over the year to 8.16m. The inactivity was increased mainly by the 2.31m students not in the labour market, an increase of 93,000 on the quarter.
Average total weekly earnings was £442/week including bonuses in January 2010 and average regular pay excluding bonuses was £426/week. Total pay increased by 0.9% and regular pay by 1.4% in January. Private sector pay was £426/week and excluding bonuses was £416/week. Private sector total pay was unchanged on last year and regular pay rose by 0.4%. Public sector average total pay was £461/week and regular pay was £457/week in January 2010. Public sector total pay went up by 3.8% and regular 4%.
Nine stoppages cost 4,000 working days in January. In the year to January the figure was 451,000 working days from 100 stoppages. The number of redundancies decreased by 22,000 to 168,000 that is a rate of 6.7 per 1000 employees down by 0.9% on the previous qaurter and 4.1% on the year.
TB In Cattle Down At End Of 2009
Defra has released the estimeated TB in cattle statistics for December 2009 obtained from the Vetnet system. The key points are that the December estimate is below the incidence rate for December last year, the January provisional figures show a decrease of 8.8% in new incidents compared to last year and an increase in the number of herds tested giving an overall decrease of 14% in the TB incidence rate. The provisional average confirmed rate was down from 5% in 2008 to 4.3% for January to December 2009.
The total number of tests carried out in December was 485,671 cattle from 5,235 herds, 3,582 of which were on herds under movement restriction and 4,320 on unrestricted herds resulting in 280 new incidents and 168-196 new confirmed incidents. There was a 3.9-4.3% rate of tests carried out on unrestricted herds that resulted in a confirmed new herd incident. The total number of cattle compulsorily slaughtered in December 2009 was 1,914, 1,887 of which were reactors (confimed TB cases) and 27 contacts (cattle known to have been in contact with a reactor).
The total number of tests carried out in December was 485,671 cattle from 5,235 herds, 3,582 of which were on herds under movement restriction and 4,320 on unrestricted herds resulting in 280 new incidents and 168-196 new confirmed incidents. There was a 3.9-4.3% rate of tests carried out on unrestricted herds that resulted in a confirmed new herd incident. The total number of cattle compulsorily slaughtered in December 2009 was 1,914, 1,887 of which were reactors (confimed TB cases) and 27 contacts (cattle known to have been in contact with a reactor).
Thursday, 11 March 2010
Port Statistics For Last Quarter 2009
The provisional port statistics for the last quarter of 2009 have been released by the Department of Transport. They say that total port traffic in terms of tonnage for the year to Q4 2009 was down by 10% on the four quarters to the end of 2008. Inward traffic was down 9% and outward by 7%. In terms of units, inward traffic was down 9% and outward by 11%. The overall figure was down by 10% on 2008.
Looking at the statistics on a quarterly tonnage basis the total traffic for Q4 compared with the same quarter last year was down 9% with inward traffic down 11% and outward traffic by 6%. In terms of units, inward traffic was up 1% and outward traffic was down by 8% compared with Q4 2008. Total unitised traffic for Q4 2009 was down 4% compared with Q4 2008.
Looking at the statistics on a quarterly tonnage basis the total traffic for Q4 compared with the same quarter last year was down 9% with inward traffic down 11% and outward traffic by 6%. In terms of units, inward traffic was up 1% and outward traffic was down by 8% compared with Q4 2008. Total unitised traffic for Q4 2009 was down 4% compared with Q4 2008.
Wednesday, 10 March 2010
Production Figures For January
The latest Index of Production from the Office for National Statistics says that the index of production fell by 1.5% compared with last year and the index of manufacturing rose by 0.2% compared with January last year
In the manufacturing sector 4 of the 13 categories reported increases while 9 fell. The largest increases in transport, in particular the manufacture motor vehicles which increased by 38.9%, and the manufacture of aircraft and spacecraft which increased by 14.1%. Food, drink and tobacco also increased, in particular meat and meat products by 12.6%, and the processing of fish, fruit and vegetables by 11.6%.
In the manufacturing sector 4 of the 13 categories reported increases while 9 fell. The largest increases in transport, in particular the manufacture motor vehicles which increased by 38.9%, and the manufacture of aircraft and spacecraft which increased by 14.1%. Food, drink and tobacco also increased, in particular meat and meat products by 12.6%, and the processing of fish, fruit and vegetables by 11.6%.
Cold Weather Affected Sales In February
The value of retail sales in the UK on a like-for-like basis across all categories rose 2.2% in February compared with February 2009 when the sales were hit by the snow and cautious consumers. The total base for retail sales rose 4.5% compared with 0.1% last year.
Shoppers seemed to have stocked up with food becuase of the January snowy weather and the food index showed only a 2.4% change and non-food changed by 1.9% like-for-like in February. The overall like-for-like index was a 2.1% change. The total basis showed a 4.1% change in food sales, 4% in non-food and 4.1% over all categories.
The internet, mail order and phone sales index in February was 15.5% up on last year compared with 14.6% in January. The weather was cold and wet and that helped to increase non-food non-store sales.
Shoppers seemed to have stocked up with food becuase of the January snowy weather and the food index showed only a 2.4% change and non-food changed by 1.9% like-for-like in February. The overall like-for-like index was a 2.1% change. The total basis showed a 4.1% change in food sales, 4% in non-food and 4.1% over all categories.
The internet, mail order and phone sales index in February was 15.5% up on last year compared with 14.6% in January. The weather was cold and wet and that helped to increase non-food non-store sales.
Fall In Trade In Services Surplus
The January 2010 deficit in value on the balance of trade in goods and services was £3.8bn, in December it was £2.6bn. Trade in goods was £7.9bn in deficit compared with £7bn in December and trade in services had a balance of £4.2bn, down from £4.4bn in December 2009. When the volatile items are excluded the figure for the volume of exports was 6% lower and the volume of imports was 1.2% lower than December. Export prices were 0.6% lower than December but import prices rose by 0.6%.
At the commodity level, in January 2010 compared with December 2009, exports of consumer goods were up by £23m and imports down by £222m, exports of cars were down £146m and imports down by £215m. Exports of chemicals were down £369m and imports up by £239m, semi-manufactured goods other than chemicals imports were up £332m and exports down by £65m.
The trade in services surplus got smaller by £0.2bn in January 2010 to £4.2bn. In December the surplus was £4.4bn. Exports fell by £0.1bn while imports rose by £0.1bn to £8.9bn.
Geographically, the deficit in trade in goods with the EU narrowed to £3.2bn from £3.6bn. EU exports fell by £0.2bn to £11.1bn and imports by £0.7bn to £14.2bn. There was an increase in the export of intermediate goods of £18m and imports of intermediate goods fell by £70m. The export of capital goods fell by £54m and the imports of capital goods by £145m. Imports of chemicals increased during the month by £64m and exports fell by £102m and consumer goods exports fell by £46m while imports fell by £225m. The trade in goods deficit with non-EU countries grew by £1.4bn to £4.8bn. Exports to non-EU countries fell by 12.5% to £8.4bn but non-EU imports increased by 1.6% or £0.2bn to £13.2bn.
The US was the only country in the G7 group with whom the level of exports changed significantly between December and January. Exports to the US fell by £0.5bn. There were no significant changes in the level of exports with any of the G7 countries. Switzerland was the only other country with whom the were any significant changes where imports increased by £0.5bn.
Changes in key commodity volumes between December and January include exports of food, drink and tobacco down 9.2% and imports 4.7%, exports of basic materials decreased by 24.6% and imports by 1.1%, exports of cars decreased by 9.3% and imports by 15.5%. The increase in exports was in consumer goods (other than cars) where the increase was 1.1% together with a decrease in imports of 6.2%.
The terms of trade in January decreased because export prices fell by 0.6% and import prices increased by 0.6%. Excluding the volatile items (the oil price effect) export prices fell by 1.3% but import prices rose by 0.7%.
At the commodity level, in January 2010 compared with December 2009, exports of consumer goods were up by £23m and imports down by £222m, exports of cars were down £146m and imports down by £215m. Exports of chemicals were down £369m and imports up by £239m, semi-manufactured goods other than chemicals imports were up £332m and exports down by £65m.
The trade in services surplus got smaller by £0.2bn in January 2010 to £4.2bn. In December the surplus was £4.4bn. Exports fell by £0.1bn while imports rose by £0.1bn to £8.9bn.
Geographically, the deficit in trade in goods with the EU narrowed to £3.2bn from £3.6bn. EU exports fell by £0.2bn to £11.1bn and imports by £0.7bn to £14.2bn. There was an increase in the export of intermediate goods of £18m and imports of intermediate goods fell by £70m. The export of capital goods fell by £54m and the imports of capital goods by £145m. Imports of chemicals increased during the month by £64m and exports fell by £102m and consumer goods exports fell by £46m while imports fell by £225m. The trade in goods deficit with non-EU countries grew by £1.4bn to £4.8bn. Exports to non-EU countries fell by 12.5% to £8.4bn but non-EU imports increased by 1.6% or £0.2bn to £13.2bn.
The US was the only country in the G7 group with whom the level of exports changed significantly between December and January. Exports to the US fell by £0.5bn. There were no significant changes in the level of exports with any of the G7 countries. Switzerland was the only other country with whom the were any significant changes where imports increased by £0.5bn.
Changes in key commodity volumes between December and January include exports of food, drink and tobacco down 9.2% and imports 4.7%, exports of basic materials decreased by 24.6% and imports by 1.1%, exports of cars decreased by 9.3% and imports by 15.5%. The increase in exports was in consumer goods (other than cars) where the increase was 1.1% together with a decrease in imports of 6.2%.
The terms of trade in January decreased because export prices fell by 0.6% and import prices increased by 0.6%. Excluding the volatile items (the oil price effect) export prices fell by 1.3% but import prices rose by 0.7%.
Tuesday, 9 March 2010
Product News - Mother's Day Gifts
Treat Her is a unique and exciting gift service that delivers exclusive women's gifts to the door. The Treat Her website offers a wide product range and if you are a bit indecisive, there is a gift guide that can help you find something. The packing and presentation service ensures you make a great impression on opening and includes a personal handwritten message on a gift card. Most items can be gift wrapped in a hand-made gift box. There are several delivery options to choose from including standard delivery, next-day delivery and even same-day delivery in London appropriately named the 'Emergency' service!. Treat Her also welcomes international orders but delivery will take is a bit longer. You could say it with flowers from Blooming Direct.
The Gift Experience has a huge range of personalised and non-personalised gifts and a comprehensive selection of experience days. You can browse and buy exclusive brands online at House of Fraser
one of Britain’s leading premium department stores. House of Fraser has thousands of products for women including designer clothes and homeware.
You could try a website called IntoTheBlue Gifts for an excellent range of gifts.
Virginia Hayward Hampers will provide a delightful Mother's Day hamper full of quality produce with great presentation and good value. Virginia Hayward Hampers have been delivering hampers and gifts to their customers for over 25 years. They are created from the very best food and wines sourced locally and around the world.
The world’s largest selection of art and décor items is online at Art.Com. There is a fantastic selection of prints, posters, photography, fine art reproductions and limited edition prints features items for all styles of decoration and environments. There are Artist Galleries which is a directory of the world's greatest artists. There are many art gifts suitable for Mother's Day. If you feel you don't want to make the important decision for her you can give Gift Certificates instead.
Ecotopia is an eco shop and a great place for shopping for great value. There is a great range for anyone with a love for 'ecochic'. You might help make her shopping habits make a difference to the world. Another online store offering that is part of the green consumer revolution is Biome Lifestyle which offers eco-friendly products and recycled and ethically sourced products and homewares. The BigGreenSmile offers a range of eco-friendly products. Small changes can make a big difference and can help reduce the pressure society puts on the environment. BigGreenSmile sources the most environmentally friendly products they can and bring them to market and offer a wide selection of products.
Dales Holiday Cottages
have over 600 cottages that you can book online. There are cottages all over the North from Scotland to Derbyshire. Online accomodation specialist HotelConnect offers cheap and cheerful bargain accomodation for breaks and holidays in cities in Europe and the USA.
Theatre Breaks offers theatre and hotel breaks in London, Stratford-Upon-Avon, Edinburgh and Europe. Theatre Breaks can tailor packages of theatre tickets and hotel accommodation to suit each customer's requirements. Theatre meal-deals are also available for many midweek performances. The packages may be to see the Royal Shakespeare Company, The Royal Tattoo or the Moulin Rouge. Pre-theatre meals, events, attractions and tours can make it an experience never to forget.
The Gift Experience has a huge range of personalised and non-personalised gifts and a comprehensive selection of experience days. You can browse and buy exclusive brands online at House of Fraser
You could try a website called IntoTheBlue Gifts for an excellent range of gifts.
Virginia Hayward Hampers will provide a delightful Mother's Day hamper full of quality produce with great presentation and good value. Virginia Hayward Hampers have been delivering hampers and gifts to their customers for over 25 years. They are created from the very best food and wines sourced locally and around the world.
The world’s largest selection of art and décor items is online at Art.Com. There is a fantastic selection of prints, posters, photography, fine art reproductions and limited edition prints features items for all styles of decoration and environments. There are Artist Galleries which is a directory of the world's greatest artists. There are many art gifts suitable for Mother's Day. If you feel you don't want to make the important decision for her you can give Gift Certificates instead.
Ecotopia is an eco shop and a great place for shopping for great value. There is a great range for anyone with a love for 'ecochic'. You might help make her shopping habits make a difference to the world. Another online store offering that is part of the green consumer revolution is Biome Lifestyle which offers eco-friendly products and recycled and ethically sourced products and homewares. The BigGreenSmile offers a range of eco-friendly products. Small changes can make a big difference and can help reduce the pressure society puts on the environment. BigGreenSmile sources the most environmentally friendly products they can and bring them to market and offer a wide selection of products.
Dales Holiday Cottages
Theatre Breaks offers theatre and hotel breaks in London, Stratford-Upon-Avon, Edinburgh and Europe. Theatre Breaks can tailor packages of theatre tickets and hotel accommodation to suit each customer's requirements. Theatre meal-deals are also available for many midweek performances. The packages may be to see the Royal Shakespeare Company, The Royal Tattoo or the Moulin Rouge. Pre-theatre meals, events, attractions and tours can make it an experience never to forget.
PMI Surveys Results
The services PMI fell in January 2010 according to a recent CIPS survey after the promising signs of recovery of last year. The index fell to 54.5 from 56.8. The weather was blamed for much of it and VAT blamed for the the rise in input prices.
The PMI for manufacturing reached a 15 year high in January 2010. The rise in the index of 56.7 from 54.6 is the highest since October 1994. New orders increased at the fastest for 6 years and new export orders are rising.
The CIPS index for the construction industry also reported a slight rise. The PMI for construction increased from 47.1 to 48.6 but the industry is still in contraction with declines in new orders and a weak fall in employment. There is still optimism about the future.
The PMI for manufacturing reached a 15 year high in January 2010. The rise in the index of 56.7 from 54.6 is the highest since October 1994. New orders increased at the fastest for 6 years and new export orders are rising.
The CIPS index for the construction industry also reported a slight rise. The PMI for construction increased from 47.1 to 48.6 but the industry is still in contraction with declines in new orders and a weak fall in employment. There is still optimism about the future.
Supply And Demand Combine To Increase Farm Prices
Farmland prices increased in H2 2009 after a slight fall in H1. The changes were due to a decrease in supply in both commercial and residential farmland sectors, stable demand in the residential sector and increased demand in the commercial sector according the the RICS Rural Land Market Survey for H2 2009. Price expectations increased but more so in commercial.
RICS publishes two different measures of farmland prices, the opinion based and the transaction based measures. The RICS opinion based measure of farmland prices increased by 4% to £12,715/hectare in H2 from £12,172/hectare in H1 2009. Arable land increased by 5% to £13,713/hectare in H2 from £13,085. Pasture land increased by 4%. In H1 it was £11,260/hectare and in H2 it increased in £11,718. The transaction based measure increased by 7.5% in H2 from £15,199 to £16,381/hectare.
Demand for farmland in the residential sector stabilised during H2 2009. Demand for commercial farmland increased. Some surveyors suggest commercial farmers are still interested in expanding their operations. Surveyors also suggest that low interest rates are making commercial farmland more attractive to non-commercial buyers. Supply however is falling in both residential and commercial farmland sectors. These conditions are expected to continue which will help increase prices further during 2010.
RICS publishes two different measures of farmland prices, the opinion based and the transaction based measures. The RICS opinion based measure of farmland prices increased by 4% to £12,715/hectare in H2 from £12,172/hectare in H1 2009. Arable land increased by 5% to £13,713/hectare in H2 from £13,085. Pasture land increased by 4%. In H1 it was £11,260/hectare and in H2 it increased in £11,718. The transaction based measure increased by 7.5% in H2 from £15,199 to £16,381/hectare.
Demand for farmland in the residential sector stabilised during H2 2009. Demand for commercial farmland increased. Some surveyors suggest commercial farmers are still interested in expanding their operations. Surveyors also suggest that low interest rates are making commercial farmland more attractive to non-commercial buyers. Supply however is falling in both residential and commercial farmland sectors. These conditions are expected to continue which will help increase prices further during 2010.
Friday, 5 March 2010
OECD Economies Continue Expanding
The Composite Leading Indicators (CLI) for January released today (5 March 2010) from the OECD seem to show that the economic recovery and expansion that has been taking place in the OECD economies is continuing. The improvement in economic activity in the G7 is only marginally better than that for December.
The index for the OECD area increased by 0.8 points in January 2010, 11.3 points higher than January last year. The increase was evenly distributed between the 'Triads', the US, 11 points, the Euro area up 12.5 points and Japan 10.7 points. The statistics show that all G7 economies are in an expansion phase but Brazil and India and in a recovery phase, even though the 5 major Asian economies combined are expanding.
The index for the OECD area increased by 0.8 points in January 2010, 11.3 points higher than January last year. The increase was evenly distributed between the 'Triads', the US, 11 points, the Euro area up 12.5 points and Japan 10.7 points. The statistics show that all G7 economies are in an expansion phase but Brazil and India and in a recovery phase, even though the 5 major Asian economies combined are expanding.
Inflation At The Factory Gate Up 4.1%
The output price index for home sales of manufactured products rose by 4.1% over the year to February as compared to January when it rose by 3.8% and 0.3% between January and February to 116.8. The incrrase was mainly due to price rises in chemical products, tobacco and alcohol products and other manufcatured goods. If excise duties are excluded the increases were 3.7% over the year and 0.3% over the month. If the more volatile sectors such as food, beverages, tobacco and petroleum are excluded the increase was 2.9% over the year and 0.3% over the month.
The input price index for materials and fuels bought by the manufacturing industry increased by 6.9% over the year to February and 0.1% over the month to February. The increases are mainly the result of price rises in imported parts and equipment, chemicals and other imported materials. These were offset by falls in the price of fuel and crude oil. Import prices as a whole increased by 0.3% between January and February. If food, beverages, tobacco and petroleum prices are excluded the increases were 1.9% over the year and 0.5% over the month.
Looking at output prices in more detail the price of petroleum products increased by 20% over the year, the next largest increase was electrical and optical which rose by 5.1%. The changes over the month were minor in comparison. Chemical products increased by 0.6%, the biggest increase followed by tobacco and alcohol at 0.5%. Petroleum products fell by -0.2% over the month. Office machinery and equipment increased by 13.4% over the year and 1.6% over the month. Recovered secondary raw materials rose by 24.7% over the year and 0.4% over the month. The prices for fabricated metal products fell by 0.5% over the year and 0.1% over the month.
The biggest contributions to the increase in input prices over the year were crude oil with an increase of 54.5% and imported metals at 8.6%. Over the month from January to February the main contributors were imported chemicals and imported metals at 0.9%, the highest since the 9.4% of September 2008, and home food materials at 0.7% offset by falls in the prices of fuel at -2.6% and crude oil at -0.7%. Office machinery and computer parts increased by 23.9% over the year and 2.8% over the month, imported non-ferrous metals increased by 21.7% over the year but fell -0.4% over the month. There were big falls in the prices of electricity and gas at -10.1% and -33.1% respectively and -18.5% overall.
The input price index for materials and fuels bought by the manufacturing industry increased by 6.9% over the year to February and 0.1% over the month to February. The increases are mainly the result of price rises in imported parts and equipment, chemicals and other imported materials. These were offset by falls in the price of fuel and crude oil. Import prices as a whole increased by 0.3% between January and February. If food, beverages, tobacco and petroleum prices are excluded the increases were 1.9% over the year and 0.5% over the month.
Looking at output prices in more detail the price of petroleum products increased by 20% over the year, the next largest increase was electrical and optical which rose by 5.1%. The changes over the month were minor in comparison. Chemical products increased by 0.6%, the biggest increase followed by tobacco and alcohol at 0.5%. Petroleum products fell by -0.2% over the month. Office machinery and equipment increased by 13.4% over the year and 1.6% over the month. Recovered secondary raw materials rose by 24.7% over the year and 0.4% over the month. The prices for fabricated metal products fell by 0.5% over the year and 0.1% over the month.
The biggest contributions to the increase in input prices over the year were crude oil with an increase of 54.5% and imported metals at 8.6%. Over the month from January to February the main contributors were imported chemicals and imported metals at 0.9%, the highest since the 9.4% of September 2008, and home food materials at 0.7% offset by falls in the prices of fuel at -2.6% and crude oil at -0.7%. Office machinery and computer parts increased by 23.9% over the year and 2.8% over the month, imported non-ferrous metals increased by 21.7% over the year but fell -0.4% over the month. There were big falls in the prices of electricity and gas at -10.1% and -33.1% respectively and -18.5% overall.
Thursday, 4 March 2010
Creative Businesses in the UK
The number of businesses in the creative industries in the UK grew from 125,300 in 2007 to 157,400 in 2008. The sub-sector with the largest number of new businesses was the software, computer games and electronic publishing category which increased by 18,200 additional businesses from 56,800 in 2007 to 75,000 in 2008. Advertising, music and the visual and performing arts also had significant increases in numbers of businesses.
The increase in the number of creative businesses did not bring an similar increase in the number of people employed in the creative industries. In fact there was a significant fall in their number. The software, computer games and electronic publishing category increased their numbers by 40,700 to 681,600. The largest percentage increase was in architecture at 8%, from 120,700 to 130,100, a difference of 9,400. There were also increases in the numbers of people employed in the advertising (1%), art and antiques (6%), music and the visual and performing arts (4%) categories but these were offset by decreases in crafts (-7%), design and designer fashion (-18%), video, film and photography (-3%), publishing and radio and TV (-3%). There was an overall decrease of 7,000 in the number of people employed in the creative industries in the UK in 2008.
The increase in the number of creative businesses did not bring an similar increase in the number of people employed in the creative industries. In fact there was a significant fall in their number. The software, computer games and electronic publishing category increased their numbers by 40,700 to 681,600. The largest percentage increase was in architecture at 8%, from 120,700 to 130,100, a difference of 9,400. There were also increases in the numbers of people employed in the advertising (1%), art and antiques (6%), music and the visual and performing arts (4%) categories but these were offset by decreases in crafts (-7%), design and designer fashion (-18%), video, film and photography (-3%), publishing and radio and TV (-3%). There was an overall decrease of 7,000 in the number of people employed in the creative industries in the UK in 2008.
Food Inflation Hits A New Low
Great news for shoopers from the British Retail Consortium's Shop Price Index tells us that inflation has fallen to 1.7% from 2.3% in January and food prices have hit a new low. Food inflation has plummeted from 2.9% to 1.3% the lowest for three years. Non-food inflation was unchanged at 1.9%. As reported on previous occasions the effects of VAT and shopper restraint may still be having an effect but the Director General of the BRC said that food prices should remain stable.
Wednesday, 3 March 2010
December Survey of Agriculture 2009
The December Survey of Agriculture in England 2009 gives data showing the winter crops areas and livestock numbers of agricultural holdings in England as of 1 December 2009.
The area of wheat sown by 1 December 2009 increased by 10.9% on 2008 to 1.8m hectares. The winter OSR area increased by 9% to 589 thousand hectares from 541 thousand hectares and winter barley decreased 4.8% to 342 thousand hectares. Oats and field beans increased to 83 and 88 thousand hectares respectively. The area of arable land intended to be left out of production in 2009/10 is 226 thousand hectares more or less unchanged from 2009.
Hay production increased in 2009 by 6.3% to 2.2m tonnes. Silage production from grass decreased by 2.4% to18.4m tonnes. Silage produced from other crops increased by 4.2% to 4.6m tonnes.
There were a total of 5.5m cattle and calves in England in December 2009. An increase of 1% from 5.4m in 2008. The dairy herd decreased by 1.4% to 1.2m which offset an increase in the beef herd of 1.1% to 731,000. The total breeding herd remained more or less unchanged at 1.9m.
The total number of pigs in England in 2009 increased by 1.3% from 3.7m in 2008 to 3.8m in 2009. The number of breeding pigs increased by 4% to 438,000 in December 2009 from 354,000 in 2008. Fattening pigs increased to 3.3m. The increased numbers may be due partly to lower costs and steady prices which has resulted in amny producers seeing profits.
Sheep and lambs in England decreased by 3.8% to 9.9m in 2009. The female breeding flock decreased by 2.2% to 6.2m continuing a downward trend beginning in 2004. Sheep prices have remained good but supply has been reduced due to the reduction in the size of the breeding flock.
The area of wheat sown by 1 December 2009 increased by 10.9% on 2008 to 1.8m hectares. The winter OSR area increased by 9% to 589 thousand hectares from 541 thousand hectares and winter barley decreased 4.8% to 342 thousand hectares. Oats and field beans increased to 83 and 88 thousand hectares respectively. The area of arable land intended to be left out of production in 2009/10 is 226 thousand hectares more or less unchanged from 2009.
Hay production increased in 2009 by 6.3% to 2.2m tonnes. Silage production from grass decreased by 2.4% to18.4m tonnes. Silage produced from other crops increased by 4.2% to 4.6m tonnes.
There were a total of 5.5m cattle and calves in England in December 2009. An increase of 1% from 5.4m in 2008. The dairy herd decreased by 1.4% to 1.2m which offset an increase in the beef herd of 1.1% to 731,000. The total breeding herd remained more or less unchanged at 1.9m.
The total number of pigs in England in 2009 increased by 1.3% from 3.7m in 2008 to 3.8m in 2009. The number of breeding pigs increased by 4% to 438,000 in December 2009 from 354,000 in 2008. Fattening pigs increased to 3.3m. The increased numbers may be due partly to lower costs and steady prices which has resulted in amny producers seeing profits.
Sheep and lambs in England decreased by 3.8% to 9.9m in 2009. The female breeding flock decreased by 2.2% to 6.2m continuing a downward trend beginning in 2004. Sheep prices have remained good but supply has been reduced due to the reduction in the size of the breeding flock.
Low Levels Of Interest In M & A
Foreign companies increased their interest in the UK from £4bn in Q3 2009 to £13.8bn in Q4. The number of transaction was more or less unchanged. Over 2009 as a whole however the value of acquisitions in UK by foreign companies was the lowest since 1993 at £30.8bn, a decrease of 41%. UK companies' interest in foreign companies decreased from £2.5bn in Q3 to £0.9bn in Q4, the lowest since records began in 1987. The total value of acquisitions by UK companies in foreign companies in 2009 as a whole was £9.9bn, the lowest since 2004. UK companies decreased their interest in UK companies from £1.9bn to 1.3bn between Q3 and Q4 2009. The total value for 2009 was £12.1bn, the lowest level since 1994.
The number of transactions in the UK by foreign companies in Q3 2009 for the £4bn was 27 and the £13.8bn in Q4 was from 26 transactions, the highest quarterly value since Q2 2008. Among the transactions taking place were the acquisition of Barclays Global Investors by Blackrock, Friends Provident by Resolution and the disposal and acquisition of Gatwick Airport. Foreign companies also disposed of 11 UK companies during the quarter. The total number of acquisitions in the UK by foreign companies in 2009 was 100 down from 252 in 2008, the lowest since 1988. A total of 78 of the 100 were direct transactions. Inward investment came mainly from Europe with 62% with 54% of the total came from EU countries, American companies accounted for 37% with the US accounting for 34% of the total and Africa, Asia and Oceania 1% each.
Transactions abroad by UK companies totalled £0.6bn in value in 2009 from £17bn in 2008. Another lowest figure since records began in 1987. Net transactions in the UK by foreign companies amounted to £24bn in 2009 from £47.4bn in 2008. Net cross-border acquisitions and disposals of UK companies totalled -£23.4bn in value.
The number of transactions abroad by UK companies was 26 in Q3 and 25 in Q4 2009 for a total value of £2.5bn and £0.9bn respectively. UK companies secured the disposal abroad of 6 companies worth £2bn in Q4 2009. Transactions taking place included the disposal of SPE S.A. by Centrica, of Aviva Australia Holdings by Aviva Plc and Balfour Beatty Plc's acquisition of Parsons Brinckerhoff Inc. The annual total of £9.9bn was from 99 transactions down from 298 in 2008, the lowest since 1987. Of the total of 99, 81 were direct transactions. The Americas were the primary destination for UK companies accounting for 50% of the total of overseas transactions, the EU accounted for 17%, Africa 16% and Asia 10%.
UK companies decreased their interest in UK companies in Q4 by 67% to £12.1bn but significant transactions included the acquisition of the Central African Mining and Exploration Company by the Eurasian Natural Resources Corporation and the acquisition of Avalon Acquisitions by Just Retirement (Holdings). There were a total of 59 transactions during Q4 2009 compared with 62 in Q3. They consisted of 39 acquisitions of independent companies and 20 by company groups that involved subsidiaries.
The total number of mergers and acquisitions in 2009 was 266 worth £12.1bn, 180 were mergers and acquisitions of indpendent companies and 86 were sales of subsidiaries between company groups.
The number of transactions in the UK by foreign companies in Q3 2009 for the £4bn was 27 and the £13.8bn in Q4 was from 26 transactions, the highest quarterly value since Q2 2008. Among the transactions taking place were the acquisition of Barclays Global Investors by Blackrock, Friends Provident by Resolution and the disposal and acquisition of Gatwick Airport. Foreign companies also disposed of 11 UK companies during the quarter. The total number of acquisitions in the UK by foreign companies in 2009 was 100 down from 252 in 2008, the lowest since 1988. A total of 78 of the 100 were direct transactions. Inward investment came mainly from Europe with 62% with 54% of the total came from EU countries, American companies accounted for 37% with the US accounting for 34% of the total and Africa, Asia and Oceania 1% each.
Transactions abroad by UK companies totalled £0.6bn in value in 2009 from £17bn in 2008. Another lowest figure since records began in 1987. Net transactions in the UK by foreign companies amounted to £24bn in 2009 from £47.4bn in 2008. Net cross-border acquisitions and disposals of UK companies totalled -£23.4bn in value.
The number of transactions abroad by UK companies was 26 in Q3 and 25 in Q4 2009 for a total value of £2.5bn and £0.9bn respectively. UK companies secured the disposal abroad of 6 companies worth £2bn in Q4 2009. Transactions taking place included the disposal of SPE S.A. by Centrica, of Aviva Australia Holdings by Aviva Plc and Balfour Beatty Plc's acquisition of Parsons Brinckerhoff Inc. The annual total of £9.9bn was from 99 transactions down from 298 in 2008, the lowest since 1987. Of the total of 99, 81 were direct transactions. The Americas were the primary destination for UK companies accounting for 50% of the total of overseas transactions, the EU accounted for 17%, Africa 16% and Asia 10%.
UK companies decreased their interest in UK companies in Q4 by 67% to £12.1bn but significant transactions included the acquisition of the Central African Mining and Exploration Company by the Eurasian Natural Resources Corporation and the acquisition of Avalon Acquisitions by Just Retirement (Holdings). There were a total of 59 transactions during Q4 2009 compared with 62 in Q3. They consisted of 39 acquisitions of independent companies and 20 by company groups that involved subsidiaries.
The total number of mergers and acquisitions in 2009 was 266 worth £12.1bn, 180 were mergers and acquisitions of indpendent companies and 86 were sales of subsidiaries between company groups.
Tuesday, 2 March 2010
Farm Business Management Practices 2007-8
More results from the Farm Business Practices survey of 2007-08 have been published by Defra. The main highlights are given on the first page. They show that the more educated farmers are more likely to perform better. A lot of farmers have no qualifications and do not practice basic business management skills. LFA grazing livestock farmers are less likely to have had any further/higher education. Arable farmers are more likely to have had a further/higher education and along with dairy farmers are more likely to consider improvements. Skills used by the top performers include risk management, IT, business planning, marketing and management accounting. Of these skills, 72% of high performers are likely to have at least 4 key business skills compared to 40% of low performers.
The measures of economic performance for the farms is the ratio between economic output and inputs and are divided into low, medium and high performance percentiles. The low performers make up the bottom 25%, medium the middle 50% and high the top 25%.
The results show that 60% of farmers have a further or higher educational qualification of some kind. Fewer, about 20%, have had business management training. Farmers with further or higher education or business management training are more likely to be top performers. At 29% it is more than in the 25% high performance percentile. More than 50% of LFA grazing livestock farmers have no qualifications at all. Nearly 50% of dairy farmers have a diploma/certificate in agriculture. Cereals farmers are more likely to have degree in agriculture and/or a business management qualification. There were a lot of farmers who had considered education and training but decided against it. The main reason given was than they were not sure of it's benefits to the business.
As far as skills and knowledge are concerned, farmers with skills and knowledge of management accounting are more likely to be high performers. Farmers not applying management accounting knowledge and skills (49%) are more likely to be low performers. Some farmers use more than one skill. The main management accounting skill used is reviewing the profit and loss account. Cereal farms are more likely to use all skills (except benchmarking) included in the survey. LFA grazing livestock farmers are least likely to use any management accounting skills.
Farmers using marketing skills are more likely to be high performers (32%). It is the same with IT (28%). Cereal farmers are most likely to have computing equipment. The least likely are the LFA grazing livestock farmers with up to 25% having no business computer. Some have computer equipment but do not use it for business. Of those who do not have a computer or do not use it for business, 45% are low performers and 20% are high performers. Broadband is widespread particular among cereal farmers and they are more likely to have computer literate business users.
Most farms don't acknowledge any knowledge or skills gap. Farms that do recognize a skills or knowledge gap are more likely to be high performers. The highest proportion were the LFA grazing livestock farmers (>70%) the lowest the cereal farmers (>50%). A risk management strategy was used by 70% of farms. A range of crops or enterprises was the most common. The farms with a risk management strategy were more likely to be high performers.
The uptake of technical advice seems to be an important factor in running farms with 98% of high performers and 93% of low performers saying they take technical advice. Business skills seem to give a certain edge. Diversification seems to require and provide more skills.
Formal or informal business plans were made by farms in all performance groups. The most common method used was to measure the farm's performance by the annual profit and loss account. The results showed that those that do not plan ahead are more likely to be low performers.
The survey also gives profiles of high and low performers who carry out at least one business management practice skill. The most common business management practice skills used by the high performance percentile include management accounting, IT, business planning and risk management. Of the high performers, 72% are using 4 key business management practice skills whereas only 40% of low performers are carrying them out. Of the high performers only 1% are using no skills whereas for low performers the figure is 11%. The high business performers have an average of £574/hectare farm business income and the low performers -£78/hectare.
The distribution of farms beween high and low performance showed that 50% of cereal farms were high performers and 19% of general croppers. Only 6% of cereal farms were low performers and 5% of general croppers. The low performers included lowland grazing livestock farms with 37% and LFA grazing livestock with 20%.
Earlier results published last March show that 24% of low performers did not identify any of the management accounting practices compared with 9% of medium and 8% of high performers. Most farmers with further or higher educational qualifications also had a diploma/certificate in an agricultural or related subject. The number of farmers with a diploma/certificate in agriculture have an inverse relationship with age group.
The survey was based on a sample of around 1,900 farm businesses from all regions and types of farming. The sample for management practices was reduced to 1,450 farm businesses but it remains a representative sample.
The measures of economic performance for the farms is the ratio between economic output and inputs and are divided into low, medium and high performance percentiles. The low performers make up the bottom 25%, medium the middle 50% and high the top 25%.
The results show that 60% of farmers have a further or higher educational qualification of some kind. Fewer, about 20%, have had business management training. Farmers with further or higher education or business management training are more likely to be top performers. At 29% it is more than in the 25% high performance percentile. More than 50% of LFA grazing livestock farmers have no qualifications at all. Nearly 50% of dairy farmers have a diploma/certificate in agriculture. Cereals farmers are more likely to have degree in agriculture and/or a business management qualification. There were a lot of farmers who had considered education and training but decided against it. The main reason given was than they were not sure of it's benefits to the business.
As far as skills and knowledge are concerned, farmers with skills and knowledge of management accounting are more likely to be high performers. Farmers not applying management accounting knowledge and skills (49%) are more likely to be low performers. Some farmers use more than one skill. The main management accounting skill used is reviewing the profit and loss account. Cereal farms are more likely to use all skills (except benchmarking) included in the survey. LFA grazing livestock farmers are least likely to use any management accounting skills.
Farmers using marketing skills are more likely to be high performers (32%). It is the same with IT (28%). Cereal farmers are most likely to have computing equipment. The least likely are the LFA grazing livestock farmers with up to 25% having no business computer. Some have computer equipment but do not use it for business. Of those who do not have a computer or do not use it for business, 45% are low performers and 20% are high performers. Broadband is widespread particular among cereal farmers and they are more likely to have computer literate business users.
Most farms don't acknowledge any knowledge or skills gap. Farms that do recognize a skills or knowledge gap are more likely to be high performers. The highest proportion were the LFA grazing livestock farmers (>70%) the lowest the cereal farmers (>50%). A risk management strategy was used by 70% of farms. A range of crops or enterprises was the most common. The farms with a risk management strategy were more likely to be high performers.
The uptake of technical advice seems to be an important factor in running farms with 98% of high performers and 93% of low performers saying they take technical advice. Business skills seem to give a certain edge. Diversification seems to require and provide more skills.
Formal or informal business plans were made by farms in all performance groups. The most common method used was to measure the farm's performance by the annual profit and loss account. The results showed that those that do not plan ahead are more likely to be low performers.
The survey also gives profiles of high and low performers who carry out at least one business management practice skill. The most common business management practice skills used by the high performance percentile include management accounting, IT, business planning and risk management. Of the high performers, 72% are using 4 key business management practice skills whereas only 40% of low performers are carrying them out. Of the high performers only 1% are using no skills whereas for low performers the figure is 11%. The high business performers have an average of £574/hectare farm business income and the low performers -£78/hectare.
The distribution of farms beween high and low performance showed that 50% of cereal farms were high performers and 19% of general croppers. Only 6% of cereal farms were low performers and 5% of general croppers. The low performers included lowland grazing livestock farms with 37% and LFA grazing livestock with 20%.
Earlier results published last March show that 24% of low performers did not identify any of the management accounting practices compared with 9% of medium and 8% of high performers. Most farmers with further or higher educational qualifications also had a diploma/certificate in an agricultural or related subject. The number of farmers with a diploma/certificate in agriculture have an inverse relationship with age group.
The survey was based on a sample of around 1,900 farm businesses from all regions and types of farming. The sample for management practices was reduced to 1,450 farm businesses but it remains a representative sample.
More Promising Jobs Signs
The Recruitment and Employers Confederation (REC) JobsOutlook report for February suggested confidence is returning to employers and recruiters. A total of 94% of employers said they expect to maintain or increase their permanent workforces in the next year. They also reveal the kinds of things they will be looking for in recruits. Communication and interpersonal skills are top of the list.
GDP Revised To 0.3%
The GDP growth rate for Q4 2009 has been revised upward from the preliminary estimate of 0.1% made last month to 0.3%. The change came from stronger data from December.
The production industries output increased by 0.4% and manufacturing within that sector rose by 0.8%. The service industries out increased by 0.5%. GDP at current market prices grew by 1.1% according to the ONS UK output, income and expenditure accounts for Q4 2009. These are the statistics that will eventually go into the Quarterly National Accounts.
The production industries output increased by 0.4% and manufacturing within that sector rose by 0.8%. The service industries out increased by 0.5%. GDP at current market prices grew by 1.1% according to the ONS UK output, income and expenditure accounts for Q4 2009. These are the statistics that will eventually go into the Quarterly National Accounts.
Monday, 1 March 2010
Business Services Still Under Pressure
Volumes of business in the service sector rose in the most recent quarter according to the CBI services survey, but while consumer services improved slightly, business services did not.
The value and volume of consumer services increased over the last three months with the survey balance up 10% the highest since August 2007. Profitability did not change much but with costs rising only 2%, the best figures since November 2007. Sales prices increased and are expected to rise again during the next quarter.
In business and professional services it was slightly different. Although value and volume of business was little changed, according to the survey, prices and profitability fell, giving a negative balance.
The survey also reported that both consumer and business services were cutting back on staff. It also reported that on the whole both sectors were more optimistic about the business situation than the last quarter and plans to expand were more numerous in consumer services than business services. A factor affecting service sector businesses expansion decisions was concern about the strength of demand and their ability to raise funds was considered a barrier to growth.
The value and volume of consumer services increased over the last three months with the survey balance up 10% the highest since August 2007. Profitability did not change much but with costs rising only 2%, the best figures since November 2007. Sales prices increased and are expected to rise again during the next quarter.
In business and professional services it was slightly different. Although value and volume of business was little changed, according to the survey, prices and profitability fell, giving a negative balance.
The survey also reported that both consumer and business services were cutting back on staff. It also reported that on the whole both sectors were more optimistic about the business situation than the last quarter and plans to expand were more numerous in consumer services than business services. A factor affecting service sector businesses expansion decisions was concern about the strength of demand and their ability to raise funds was considered a barrier to growth.
Better Performance Than Expected On The High Street
Retail sales outperformed expectations for January according to the CBI distributive trades survey for February. The survey also revealed that although inflation has increased job losses have slowed down. Investment intentions have also improved.
The majority of respondents said their volumes were up in February with a marked improvement on January's survey results and beat their expectations. Orders improved in line with sales volumes. Retailers also expect further growth in sales and orders next month. Stock adequacy remains low.
The busines situation is expected to be fairly stable over the next three months. The job situation seems to be easing with the balance of businesses cutting back on staff expected to be the same in the next quarter. Annual capital expenditure in the next year is expected to remain about the same as in 2009.
Prices rose steeply in February but they probably reflect the changes in VAT coming in at the beginning of 2010. Clothing and grocers had a good month. Durables, furniture and carpets also did well. Among those that didn't do so well were hardware, china and DIY. Wholesalers did quite well but motor trades sale volumes fell and are expecting a further fall over the next quarter. The next quarter is expected to get worse, by a slight majority, and employment is expected to remain stable.
The majority of respondents said their volumes were up in February with a marked improvement on January's survey results and beat their expectations. Orders improved in line with sales volumes. Retailers also expect further growth in sales and orders next month. Stock adequacy remains low.
The busines situation is expected to be fairly stable over the next three months. The job situation seems to be easing with the balance of businesses cutting back on staff expected to be the same in the next quarter. Annual capital expenditure in the next year is expected to remain about the same as in 2009.
Prices rose steeply in February but they probably reflect the changes in VAT coming in at the beginning of 2010. Clothing and grocers had a good month. Durables, furniture and carpets also did well. Among those that didn't do so well were hardware, china and DIY. Wholesalers did quite well but motor trades sale volumes fell and are expecting a further fall over the next quarter. The next quarter is expected to get worse, by a slight majority, and employment is expected to remain stable.
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