Consumer prices indices for the OECD countries continue to increase. The OECD CPI went up by 2.9% in April 2011 compared with 2.7% in March. Energy prices accounted for much of the increase with a 13.8% rise compared with 12.4% in March.
Inflation accelerated most in the UK with an increase to 4.5% and the US to 3.2%. Germany also experienced an acceleration of inflation to 2.4%. France's inflation rose to 2.1% and Italy's to 2.6%. Canada remained stable at 3.3%. The euro area inflation (HICP) was at 2.8% in May from 2.7% in April.
The latest figures from Eurostat suggest that euro area inflation was back to 2.7% again in May with EU inflation at 3.2%.
Saturday, 25 June 2011
OECD CLI Suggest Slow Down In Recovery
The Composite Leading Indicators (CLIs) published by the OECD for April 2011 suggest a slight loss of momentum in most major economies with the US the exception. Stability in the pace of expansion was suggested in Germany and the UK but France, Italy and Canada show signs of a slowdown. Signs of a slowdown also appear in China, Brazil, India and Russia.
Food Sales In Record Fall
The value of retail sales increased by 3.8% in May 2011 compared with May 2010 according to a statistical release from the ONS. Sales volume increased by 0.2%. Food sales fell by a record 3.2% in May 2011 compared with April 2011. Prices increased by 3.8% with the highest increases mainly in food stores. Internet sales accounted for 9.4% of all retail sales in May compared with 8.5% in April 2011. The total spent on retail sales during May 2011 was estimated at £25.6bn.
Volume Of Milk 5.6% Up
The latest release from Defra on milk used by dairies in England and Wales tells us that the intake of raw whole milk was 813m litres, a 5.6% increase on April 2010.
The milk was used for a range of liquid milk and milk products including 346m litres of whole milk and 102m litres of skim milk used for liquid milk and 172m litres of whole milk and 24m litres of skim milk used for cheese production. Milk used in yogurt production was included as part of the 29,434,000 litres of whole milk used to produce yogurt, condensed milk and other dairy products. Over 97m litres of skim milk and nearly 2m litres of cream were also used in the production of yogurt.
The total separated from the total intake for skim milk and cream was 237,891,000 litres leaving the total available 575,471,000 litres.
The milk was used for a range of liquid milk and milk products including 346m litres of whole milk and 102m litres of skim milk used for liquid milk and 172m litres of whole milk and 24m litres of skim milk used for cheese production. Milk used in yogurt production was included as part of the 29,434,000 litres of whole milk used to produce yogurt, condensed milk and other dairy products. Over 97m litres of skim milk and nearly 2m litres of cream were also used in the production of yogurt.
The total separated from the total intake for skim milk and cream was 237,891,000 litres leaving the total available 575,471,000 litres.
UK Livestock Slaughter Statistics For May
The key points in Defra's latest information on slaughterings of cattle, sheep and pigs for May 2011 are that at 170,000 there was a 4% increase in the number of UK prime cattle slaughterings over May 2010. Beef and veal were 7% up on May 2010 with 74,000 tonnes. Sheep slaughterings were also 4% up on last year at 727,000 head. Mutton and lamb were 4% up with 17,000 tonnes. Pigs increased 3% to 718,000 tonnes compared to May 2010. Pigmeat production was 59,000 tonnes, an increase of 3% on May last year.
Friday, 24 June 2011
Increase In Budget Deficit In May
The UK Government reported a current budget deficit of £15.3bn in May 2011. Net borrowing was £17.4bn and net debt was £920.9bn. These figures exclude the temporary effects of financial intervention. Total receipts were £38bn and total expenditure was £51.7bn. Net investment was £2.7bn after accounting for depreciation of £0.6bn.
API For April 2011
The agricultural prices index for April published by Defra for prices received by producers for agricultural products for the total of all products in the monthly series in April 2011 was 166.4. To put this index number into some kind of context the index number highest since January 2010 was in March 2011 (last month) at 167.3 and the lowest was in April 2010 with 139.1. The index for purchase prices paid by producers for agricultural inputs in the monthly series for April 2011 was 148.7. The highest index since January 2010 was in January 2011 at 150.0 and January and March were lowest at 130.7.
Tuesday, 21 June 2011
UK Population Expected To Increase As Baby Boomers Die Out
The UK is expected to show a strong increase in population between 2010 and 2060 according to a statistical bulletin from Eurostat. Thje EU27 population is expected to increase from 501m in 2010 to 517m in 2060. It is expected to peak at 526m in 2040. Other countries expected to show strong increases are Ireland, Luxembourg, Cyprus, Belgium and Sweden. The population is also expected to older as well as larger with up to 25% of the population of the UK over 65 by 2060. The 'Baby Boom' representative year is 1960 and 2060 the year when most Baby Boomers will have died out.
Saturday, 11 June 2011
Urban And Rural Areas Are Interdependent
Patterns of interdependence seem to be emerging between urban and rural areas where rural dwellers have strategies for overcoming differences. The links they have with urban areas provide them with good standards of living. Some of the key findings of a report in Regional Trends 43 include that unemployment rates are usually lower in rural areas, earnings are higher, a higher proportion have Internet access with 51% in rural areas using banking sites compared with 44% from urban areas and rural households spend more money than urban households.
Other findings are that there are fewer young adults in rural areas but more in their 40s with young children. There is a higher proportion of higher managerial/professional occupations in rural areas and higher proportions with degrees. People in rural areas tend to live longer - on average 2.1 years for males and 1.4 for females. House prices are less affordable for local workers in rural areas than in urban areas.
The industry mix is not so different generally. Agriculture, forestry and fishing account for 15% of all rural businesses and retail a much higher proprtion of urban businesses. Farming accounts for only a small part of the 560,000 business units in rural England. Home working and self-employment in rural areas are far higher than the national average.
Rural England is also divided into 'two countrysides': a large group of well-off, better connected areas; and, a much smaller group of less well-off, sparsely populated, remote areas. Rural, 'less sparse' areas have high levels of household income, all 'sparse' areas have incomes below average, with lower levels of people with degree or equivalent qualifications. 'Less sparse' areas are found mainly around large urban areas and the urban fringe of villages that almost merge into each other and small market towns.
Other findings are that there are fewer young adults in rural areas but more in their 40s with young children. There is a higher proportion of higher managerial/professional occupations in rural areas and higher proportions with degrees. People in rural areas tend to live longer - on average 2.1 years for males and 1.4 for females. House prices are less affordable for local workers in rural areas than in urban areas.
The industry mix is not so different generally. Agriculture, forestry and fishing account for 15% of all rural businesses and retail a much higher proprtion of urban businesses. Farming accounts for only a small part of the 560,000 business units in rural England. Home working and self-employment in rural areas are far higher than the national average.
Rural England is also divided into 'two countrysides': a large group of well-off, better connected areas; and, a much smaller group of less well-off, sparsely populated, remote areas. Rural, 'less sparse' areas have high levels of household income, all 'sparse' areas have incomes below average, with lower levels of people with degree or equivalent qualifications. 'Less sparse' areas are found mainly around large urban areas and the urban fringe of villages that almost merge into each other and small market towns.
Euro GDP Up By 0.8%
Both the euro area and the EU27 reported an increase of 0.8% in GDP during the first quarter of 2011 compared with the previous quarter according to the latest Eurostat statistical release on second estimates of GDP. When the first quarter 2011 is compared with the first quarter 2010 GDP increased by 2.5% in both areas.
The household final consumption expenditure component of GDP contributed an increase of 0.3 in the euro area and 0.2 in the EU27. In the USA HFCE rose by 0.5% and in Japan it fell by 0.6%. Gross fixed capital formation grew by 2.1% in the euro area and 1.2% in the EU27.
The total gross value added (GVA) over the previous quarter was 0.8% in the euro area and 0.7% in the EU27 and 2.3% in both areas over the previous year. Agriculture GVA grew by 0.6 over the previous quarter and the previous year. Financial services and business activities GVA increased 0.2 and 0.3 in euro area and EU27 respectively over the quarter and 1.5% and 1.4% respectively over the year.
The household final consumption expenditure component of GDP contributed an increase of 0.3 in the euro area and 0.2 in the EU27. In the USA HFCE rose by 0.5% and in Japan it fell by 0.6%. Gross fixed capital formation grew by 2.1% in the euro area and 1.2% in the EU27.
The total gross value added (GVA) over the previous quarter was 0.8% in the euro area and 0.7% in the EU27 and 2.3% in both areas over the previous year. Agriculture GVA grew by 0.6 over the previous quarter and the previous year. Financial services and business activities GVA increased 0.2 and 0.3 in euro area and EU27 respectively over the quarter and 1.5% and 1.4% respectively over the year.
EU Retail Better In April
The volume of retail trade in the euro area increased by 0.9% in April 2011 compared wiith March. In the EU27 the increase was 1.1%. The retail sales index increased by 1.1% and 1.9% respectivley. The volume of trade in the UK over the previous month was 1.1% and over the year 4.3%.
Over the month, food, drink and tobacco rose by 0.7% in the euro area and 1.6% in the EU27. In the non-food sector the increases were 0.8% and 1.3% respectivly. The highest increases were in Denmark at 4.3% and the largest decreases were in Malta at 2.8%.
Over the year the increases in the food sector were 1.2% in the euro area and 1.8% in the EU27 and in the non-food sector 1.8% and 2.7% respectively. The highest increases were in Luxembourg at 9.4% and the largest decreases were in Malta at 8%.
Over the month, food, drink and tobacco rose by 0.7% in the euro area and 1.6% in the EU27. In the non-food sector the increases were 0.8% and 1.3% respectivly. The highest increases were in Denmark at 4.3% and the largest decreases were in Malta at 2.8%.
Over the year the increases in the food sector were 1.2% in the euro area and 1.8% in the EU27 and in the non-food sector 1.8% and 2.7% respectively. The highest increases were in Luxembourg at 9.4% and the largest decreases were in Malta at 8%.
Outward Investment Highest Since 2007
The ONS has released data regarding mergers, acquisitions and disposals involving UK companies with values of over £1m covering the first quarter of 2011. The value of acquisitions abroad by UK companies was the highest outward investment since the fourth quarter of 2007 increasing to £18.3bn from £3.8bn in the last quarter of 2010. The investments invloved 44 acquisitions in the first quarter compared to 66 in the last quarter.
The value of acquisitions in the UK by foreign companies fell from £7bn to £6.4bn over the quarter. Expenditure by UK companies on acquisitions of UK companies fell to £1.2bn from £6.3bn in the last quarter of last year.
The value of acquisitions in the UK by foreign companies fell from £7bn to £6.4bn over the quarter. Expenditure by UK companies on acquisitions of UK companies fell to £1.2bn from £6.3bn in the last quarter of last year.
European IPP Increase
The index of producer prices of all products sold on domestic markets of the various countries of the EU (excluding imports) rose by 0.9% in the euro area and 1% in the EU27 in April 2011 compared with March 2011. April 2011 compared with April 2010 shows that the annual increase was 6.7% in the euro area and 7.8% in the EU27.
The monthly changes included an increase in energy prices of 2% in the uero area and 2.2% in the EU27, an increase of 0.4% in both areas in total industry and 0.6% in intermediate goods, 0.2% in durables and 0.1% in capital goods. Non-durable consumer goods rose by 0.5% in the euro area and 0.4% in the EU27. The highest increases at the national level were in Latvia at 4.6% only Sweden reported a decrease (-0.5%) and Malta remained stable.
Total industry prices (excluding energy) increased 4.4% on the annual basis in the euro area and 4.6% in the EU27. Energy prices increased by 13.3% in the euro area and 15.4% in the EU27. Intermediate goods prices increased by 7.3% in both zones. Non-durables rose by 3.4% in the euro area and 3.9% in the EU27. Durables rose by 2% and 1.9% and capital goods by 1.3% and 1.4% respectively. The largest increase nationally was in the UK with an increase in the total index of 13.1%. The smallest was in Malta with 0.9%.
The monthly changes included an increase in energy prices of 2% in the uero area and 2.2% in the EU27, an increase of 0.4% in both areas in total industry and 0.6% in intermediate goods, 0.2% in durables and 0.1% in capital goods. Non-durable consumer goods rose by 0.5% in the euro area and 0.4% in the EU27. The highest increases at the national level were in Latvia at 4.6% only Sweden reported a decrease (-0.5%) and Malta remained stable.
Total industry prices (excluding energy) increased 4.4% on the annual basis in the euro area and 4.6% in the EU27. Energy prices increased by 13.3% in the euro area and 15.4% in the EU27. Intermediate goods prices increased by 7.3% in both zones. Non-durables rose by 3.4% in the euro area and 3.9% in the EU27. Durables rose by 2% and 1.9% and capital goods by 1.3% and 1.4% respectively. The largest increase nationally was in the UK with an increase in the total index of 13.1%. The smallest was in Malta with 0.9%.
Travelling To Work
Most people in the UK (75%) live within 30 minutes travelling distance of their workplace. Only 5% take more than an hour. In London it is very different. The majority of people (56%) who work in London have to travel for more than 30 minutes with 16% travelling for over an hour.
The data, which dates from 2009, also shows that most people (71%) drove to work. Other forms of transport used to get to work included walking (10%), the bus (7%), train (5%) and cycling (3%). Again London is very different with about 35% driving to work and about half of workers use public transport (train 20%, Underground 18%, bus 12%) compared with 9% outside the capital.
About 59% of workers live and work in the same local authority district, 41% work in a different local authority district to the one they live in.
The data, which dates from 2009, also shows that most people (71%) drove to work. Other forms of transport used to get to work included walking (10%), the bus (7%), train (5%) and cycling (3%). Again London is very different with about 35% driving to work and about half of workers use public transport (train 20%, Underground 18%, bus 12%) compared with 9% outside the capital.
About 59% of workers live and work in the same local authority district, 41% work in a different local authority district to the one they live in.
Farm Gate Milk Prices Up In April
The average farm gate price of milk in April 2011 was 26.24p/litre, 2.67p/litre up on last year according to the latest figures from Defra. Butterfat content increased from 3.94% last April to 4.02% this year while protein content fell from 3.23% to 3.22%.
Mutton And Lamb Up 5%
The latest monthly information on livestock slaughterings of cattle, sheep and pigs from Defra shows that prime cattle slaughterings were up 1% in April 2011 on April 2010 at 204,000 tonnes. Beef and veal production was 86,000 tonnes also 1% up on last year. Sheep and pigs were 4% up on last year. Mutton and lamb production was up 5% at 23,000 tonnes and pigmeat production was up 4% at 72,000 tonnes.
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