Week in Review - 25th February, 2011

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↑ Public sector financesProvisional estimates of the public finances show that (excluding financial interventions) the public sector had a current budget surplus of £8.5bn in January 2011. This compares with January 2010, when there was a surplus of £4.1bn.Public sector net debt (excluding financial interventions) was £867.2bn (equivalent to 57.6% of GDP) at the end of January 2011. This compares with £720.9bn (50.4% cent of GDP) as at the end of January 2010.
↓ GDP (2010q4, 2nd estimate)National Statistics revised down their estimates for GDP, with data now showing a 0.6% contraction in the final quarter of 2010. Output grew by 1.1% in manufacturing, but services and construction output fell.
↓ Business Investment (2010q4)Total business investment in 2010q4 fell by 2.5% to £29.6bn when compared with the previous quarter. Manufacturing investment was up 4.6% on the quarter, but overall investment by manufacturers was 6.5% lower in 2010 than 2009.
↓ Index of servicesThe seasonally adjusted Index of Services in December 2010 was down 0.6% compared with December 2009, with four of the five components of the services sector contracting. The largest contribution to the decrease was business services and finance where the index fell by 0.8%. Service sector output in December was strongly affected by the weather.
The week ahead
Mon 28th: GfK NOP Consumer confidence
Tue 1st: Lending to individuals

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