EEF blog

Insights into UK manufacturing

Jeegar Kakkad June 12, 2009 09:56

15^th: Trade. 16^th: Inflation. 17^th: Labour market, MPC minutes. 18^th: EEF Pay Bulletin, Retail sales, Public finances.

*↑ House prices*	The headline reported price balance in the May RICS survey rose to -44.1, from -58.7 in April, the highest since November 2007.
*↓ Retail sales*	The British Retail Consortium reported that retail sales rose by 0.8% year-on-year in May, as the weakness in sales of 'big ticket' goods indicated that consumer confidence still remains subdued.
*↓ Inflation expectations*	The Bank of England Inflation Attitudes Survey for Q2 2009 found that the median expectation for inflation one year ahead was 2.4% (rising from 2.1% in Q1).
*↑ Commodity prices*	Oil prices pushed through $70 per barrel, leading a broad gains across most commodities, including metals, corn, soyameal.
*Credit insurance*	The £5bn scheme to allow companies who have had their credit insurance cover reduced have been able to purchase six months top-up cover will be backdated to include suppliers who had their cover reduced since 1 October last year.