TITLE

Latest Economic Data

PUB. DATE
July 2004
SOURCE
Management Services;Jul2004, Vol. 48 Issue 7, p34
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article presents economic data from the CBI in July 2004. News from the CBI shows total net lending to individuals rising by a steep £11.1 billion, up from the increase of £10.9 billion in March, while mortgage lending rose by a record £9.8 billion in April, up from the revised March figure of £9.2 billion. At the same time mortgage approvals fell to 124,000 in April from 127,000 in March, but this pace of approvals is still consistent with the forecast in the nationwide house price series to an annual pace of 25% or higher in coming months. Input prices' index was 66.8% in May, the highest since July 1995, with particular pressure from higher oil and steel prices. May's CIPS report on services showed strong growth, with an index of 57.4%, down slightly from the 59.0 figure in April. On the downside however, tough competition and resistance to price rises have squeezed profit margins and led to sharp cutbacks in employment, with the employment balance being at its weakest since November 1992.
ACCESSION #
13854508

 

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