Friday, 23 December 2011
Service Sector Growth In October
The services index published by the ONS showed that the sector grew by 1.1% in October 2011 compared with 2010. The sector output decreased between September and October 2011 by 0.7%. Three of the four main components of the index grew with government services increasing by 2.3%. Business services and finance increased by 1.5% compared with October 2010.
Public Sector Finances Improvement In November
Public sector net borrowing fell by £2.3bn to £18.1bn in November 2011 compared with November 2010. Net debt was £977.1bn. The current budget deficit was £1.7bn lower at £15.7bn
Friday, 16 December 2011
Euro Trade Surplus EU27 Deficit With Rest Of The World
Euro area trade with the rest of the world in October 2011 recorded a surplus of 1.1 bn euros, compared with 3.1 bn euros in October 2010. In October 2011 compared with September 2011, exports fell by 1.9% and imports by 0.7%.
The EU27 trade balance with the rest of the world showed a 11.0 bn euro deficit, compared with a 9.6 bn deficit in October 2010. In September 2011 the balance was -10.6 bn euros compared with -13.9 bn euros in September 2010. In October compared with September 2011, exports decreased by 0.7%, while imports increased by 0.5% (from Eurostat).
The EU27 trade balance with the rest of the world showed a 11.0 bn euro deficit, compared with a 9.6 bn deficit in October 2010. In September 2011 the balance was -10.6 bn euros compared with -13.9 bn euros in September 2010. In October compared with September 2011, exports decreased by 0.7%, while imports increased by 0.5% (from Eurostat).
UK Inflation Highest In Europe
Euro area annual inflation was unchanged from October at 3% in November. Monthly inflation was 0.1%. EU annual inflation was also unchanged from October at 3.4%. Monthly inflation was 0.2%.
The lowest annual rates among member states were in Sweden (1.1%), Malta (1.5%) and Ireland (1.7%). The highest inflation rates in November were in Slovenia and the UK (both 4.8%).
The lowest annual rates among member states were in Sweden (1.1%), Malta (1.5%) and Ireland (1.7%). The highest inflation rates in November were in Slovenia and the UK (both 4.8%).
Thursday, 15 December 2011
Industrial Production In Europe In October
Industrial production fell in Europe during October. The industrial production index fell in 14 EU countries and rose in 8, remaining stable in France in October 2011 compared with September. The industrial production index fell by 0.1% in the euro zone and by 0.2% in the EU27. Over the year from October 2010 to October 2011, industrial production increased by 1.3% in both areas.
Number of Unemployed Reaches 2.64m
The unemployment rate reached 8.3% in November 2011, up 0.4% on the quarter. The last time it was higher was January 1996. The total number of unemployed people reached 2.64m, the highest number since September 1994. The unemployment level for the 16 to 24 age group at 22% is the highest since records began. The number of unemployed people in that age group has risen to 1.03m. Data from the years before these records began show that the level of youth unemployment was higher in the 1980s.
Total pay rose by 2% on last year. Regular pay (excluding bonuses) rose by 1.8% on the year. Output per worker was unchanged. Unit labour costs increased by 0.3%. Actual hours worked per week was 918m and average weekly hours worked increased by 0.2% to 31.6. There were 455,000 vacancies in the three months to November, or 1.7 vacancies for 100 employee jobs.
Total pay rose by 2% on last year. Regular pay (excluding bonuses) rose by 1.8% on the year. Output per worker was unchanged. Unit labour costs increased by 0.3%. Actual hours worked per week was 918m and average weekly hours worked increased by 0.2% to 31.6. There were 455,000 vacancies in the three months to November, or 1.7 vacancies for 100 employee jobs.
Inflation Down to 4.8% In November
Inflation fell to 4.8% in November from the 5% figure of October. The index number is 121.2 (2005=100). RPI stands at 5.2%. Food, petrol, clothing and furniture household and equipment and maintenance provided the largest downward pressure. Domestic heating and off sales of alcohol provided upward pressure to the CPI. While upward pressure came from the same sectors as the CPI, downward pressure on the RPI came from wines and spirits off sales and fuel and light.
Friday, 9 December 2011
Trade Deficit Narrowed To £1.6bn In October
The seasonally adjusted trade in goods and services deficit was £1.6bn in October down from £4.3bn in September according to the ONS. It is the smallest deficit since April.
The deficit on trade in goods amounted to £7.6bn and the surplus on trade in services amounted £6bn. Exports rose to a record £26.5bn and imports fell from the record £34.6bn in September to £34.1bn in October. Both import and export prices fell in October by 0.6% and 0.4% respectively.
There was a £2.1bn increase in exports of goods to both EU (£13.9bn) and non-EU (£12.6bn) countries.
The biggest changes in key commodity value between September and October were in exports of chemicals (+£596m) and capital goods (+£327) and imports of oil (+£276m). Consumer goods other than cars had the biggest downward change (-£246).
The deficit on trade in goods amounted to £7.6bn and the surplus on trade in services amounted £6bn. Exports rose to a record £26.5bn and imports fell from the record £34.6bn in September to £34.1bn in October. Both import and export prices fell in October by 0.6% and 0.4% respectively.
There was a £2.1bn increase in exports of goods to both EU (£13.9bn) and non-EU (£12.6bn) countries.
The biggest changes in key commodity value between September and October were in exports of chemicals (+£596m) and capital goods (+£327) and imports of oil (+£276m). Consumer goods other than cars had the biggest downward change (-£246).
Producer Prices Rise By 5.4%
The output price for home sales of manufactured products rose 5.4 per cent in the year to November 2011 according to the latest statistical bulletin on producer prices from the ONS. The output price index excluding food, beverages, tobacco and petroleum rose 3.2 per cent.
The total input price index rose 13.4 per cent, the lowest annual rate since December 2010, when the index rose 13.1 per cent. The total input price index excluding food, beverages and tobacco rose 10% over the year.
The output index for home sales of manufactured products rose 0.2 per cent and the total input price index rose 0.1 per cent between October and November. There were price increases in petrol products, tobacco and alcohol and chemicals and pharmaceuticals.
The total input price index rose 13.4 per cent, the lowest annual rate since December 2010, when the index rose 13.1 per cent. The total input price index excluding food, beverages and tobacco rose 10% over the year.
The output index for home sales of manufactured products rose 0.2 per cent and the total input price index rose 0.1 per cent between October and November. There were price increases in petrol products, tobacco and alcohol and chemicals and pharmaceuticals.
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