Week in Review - 1st April, 2011

Subscribe to Campaigning blog feeds


↑ GDP, 2010q4, final revision

National Statistics revised their estimates for GDP in the fourth quarter of 2010, with data once again showing a 0.5% contraction. Output grew by 1.1% in manufacturing, but services and construction output fell.
↓ Balance of PaymentsThe current account deficit in 2010q4 was £10.5bn, equivalent to -2.9% of GDP. This compares with a deficit of £8.7bon (-2.4% of GDP) in the 2010q3. The worsening in the Balance of Payments was due to higher deficits on current transfers and on trade in goods, combined with a lower surplus for trade in services.
↔ Business InvestmentNational Statistics' revised Business investment estimate for 2010q4 terms showed no growth when compared with the previous quarter. The provisional estimate had shown a fall of 2.5%. Manufacturing investment increased 4.1% over the quarter.
↓ Lending to individualsTotal net lending to individuals rose £2.0 billion in February. Within the total, lending secured on dwellings rose £1.2 billion while consumer credit rose by £0.8 billion.
↔ GfK/NOP Consumer ConfidenceGfK NOP's Consumer Confidence Index remains at -28. There were small increases on the indicators relating to the general economic situation but households felt that their personal financial situations over the last 12 months, and the climate for major purchases, had worsened.
↓ Manufacturing PMIThe manufacturing PMI fell back a little to 57.1, following last month's record high of 61.5. This is still well above the series average of 51.3. Continued input price pressures meant that output prices rose at a record rate.
The week ahead
Wed 6th: Index of Production
Thu 7th: MPC rate decision
Fri 8th: Producer price index


This person has now left EEF. Please contact us on 0808 168 1874 or email us at enquiries@eef.org.uk if you have any questions.

Other articles from this author >
Online payments are not supported by your browser. Please choose an alternative browser or make payments through the 'Other payment options' on step 3.