Separate report on net lending to individuals showed that it increased by £2.6 billion in October, compared to the average monthly increase of £3.0 billion over the previous six months. It missed market predictions on increase by £2.8 billion. The three-month annualised and twelve-month growth rates were both 2.3%.
On Tuesday, from the UK, Construction PMI figures were released.UK Construction PMI fell to 59.4 in November, from 61.4 in October. Analysts were anticipating smaller decrease to 61.1. Nonetheless, the headline index has now posted above the neutral 50.0 threshold for 19 months running and the latest reading was stronger than the long-run survey average (54.5).
Wednesday brought UK Services PMI data. UK Services PMI rose to 58.6, from 56.2 in October, beating market forecasts on rise to 56.5 , which pointed to a marked and accelerated rate of expansion that was well above the survey’s historical average.
From the UK, on Thursday, BoE interest rate and asset purchase decision was released. The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%, as it was largely expected. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.
Next week markets will be looking at:
Industrial Production (Tuesday 10:30)
Trade Balance (Wednesday 10:30)
Last modified on Tuesday, 09 December 2014
