UK Mortgage Approvals At 31-Month Low

RTTNews | 742 วันที่ผ่านมา

(RTTNews) - UK mortgage approvals declined to the lowest level in more than two years in December as the cost of living crisis and the rising interest rate took its toll on the property market.

The number of mortgages approved for house purchases fell to 35,600 in December from 46,200 in November, data from the Bank of England revealed Tuesday.

The fourth straight month of decline took the approvals to the lowest since May 2020 and they also remained well below economists' forecast of 45,000.

The collapse in property demand makes further large falls in prices inevitable in the coming months, Capital Economics economist Andrew Wishart said.

The 'effective' interest rate, which is the actual interest rate paid on newly drawn mortgages increased by 32 basis points, to 3.67 percent in December.

At the same time, secured lending fell more-than-expected to GBP 3.2 billion in December from GBP 4.3 billion in November, data showed. The expected level was GBP 4.0 billion.

Consumers borrowed an additional GBP 0.5 billion in consumer credit compared with GBP 1.5 billion in November.

Businesses borrowed GBP 1.9 billion in December compared to GBP 1.5 billion a month ago. Borrowings of large firms increased to GBP 2.7 billion, while small and medium sized businesses repaid GBP 0.8 billion.

The Bank of England has raised its interest rates over the last nine consecutive meetings. The bank rate has reached 3.50 percent, the highest level since October 2008.

The bank is expected to hike its rate again by 50 basis points on February 2.

แท็ก : GBP

UK Job Vacancies Decline Most Since 2020: REC/KPMG Report

UK job vacancies decreased the most since August 2020 as higher cost of employing staff due to the changes in government policies weighed on hiring activity, a report compiled by S&P Global showed on Monday. Demand for staff decreased in January at the sharpest pace since August 2020. Vacancy numbers fell especially sharply for permanent worker, the KPMG/REC Report on Jobs survey revealed.

RTTNews | 1 วันที่ผ่านมา

German Industrial Output Falls Most In 5 Months

Germany's industrial output declined the most in five months in December, reflecting a sharp reduction in auto production, Destatis reported Friday. Industrial output fell 2.4 percent month-on-month in December, offsetting November's 1.3 percent gain.

RTTNews | 4 วันที่ผ่านมา

UK Halifax House Prices Rise More Than Forecast

UK house prices grew more than expected in January to hit a record high as buyer demand increased ahead of the stamp duty increase in April, mortgage lender Halifax said Friday. House prices increased 0.7 percent in January from December, reversing a 0.2 percent drop in the previous month. The monthly growth was also faster than economists' forecast of 0.4 percent.

RTTNews | 4 วันที่ผ่านมา

Bank Of England Cuts Rate By 25 Bps, Sees Modest Growth In Q1

The Bank of England lowered its key interest rate by a quarter-point as widely expected on Thursday but two policymakers sought a bigger reduction citing the sluggish U.K. economy and the heightening uncertainty over trade tariffs. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to reduce the benchmark bank rate to 4.50 percent from 4.75 percent.

RTTNews | 4 วันที่ผ่านมา

UK Construction Sector Contracts For First Time In 11 Months

The UK construction sector shrank in January, ending a 10-month period of expansion due to shrinking orders and rising cost pressures, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index rose to 48.1 in January from 53.3 in December. The index registered below the 50.0 threshold for the first time since February 2024.

RTTNews | 5 วันที่ผ่านมา

UK Car Sales Continue To Fall, EV Share Rises: SMMT

The UK car market contracted for the fourth straight month in January due to weak consumer confidence and tough economic conditions, but the market share of electric vehicles increased, data from the Society of Motor manufacturers and Traders or SMMT, showed on Wednesday. Car registrations decreased 2.5 percent on a yearly basis to 139,345 units in January.

RTTNews | 6 วันที่ผ่านมา

UK Services Growth Eases On Renewed Fall In New Work

The UK service sector growth eased more than initially estimated in January as new work declined for the first time since October 2023, survey results from S&P Global showed on Wednesday. The S&P Global services Purchasing Managers' Index registered 50.8 in January, down from 51.1 in December and was also below the flash estimate of 51.2.

RTTNews | 6 วันที่ผ่านมา

UK Manufacturing Downturn Continues In January

The UK manufacturing activity continued to contract in January, albeit at a slower pace, due to weak demand, low confidence and rising costs, final survey results from S&P Global showed on Monday. The final manufacturing Purchasing Managers' Index rose to 48.3 in January from an 11-month low of 47.0 in December. The reading was marginally above the flash score of 48.2.

RTTNews | 8 วันที่ผ่านมา

EURUSD	1.03093	GBPUSD	1.23472	AUDUSD	0.62853
USDJPY	151.661	USDCAD	1.43317	USDCHF	0.91115