Yesterday's session brought Net Lending to Individuals data. Total lending to individuals increased by £5.3 billion in January, compared to the average monthly increase of £4.7 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.2% and 3.5% respectively. Lending secured on dwellings increased by £3.7 billion in January, compared to the average monthly increase of £3.4 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.4% and 2.8% respectively.
In the US session
Pending Home Sales and Chicago
PMI figures were released.
The Pending Home Sales Index, declined 2.5% to 106.0 in January from an upwardly revised 108.7 in December but is still 1.4% above January 2015 (104.5). Analysts were predicting increase by 0.6%. Although the index has increased year-over-year for 17 consecutive months, last month’s annual gain was the second smallest (September 2014 at 1.2 percent) during the timeframe.
The Chicago Business Barometer recoiled 8.0 points to 47.6 in February following a sharp increase to 55.6 in the previous month, led by significant declines in Production and New Orders. Four of the five Barometer components declined between January and February, with only Supplier Deliveries posting an increase on the month. While the latest fall left the Barometer running a little below the 12-month average of 50.1, following significant weakness in Q4 2015, activity looks set to rebound in Q1.
On Tuesday, Manufacturing PMI data will be published. Slight decrease to 52.3 is anticipated. In the US session, also, ISM Manufacturing PMI figures will be released. Analysts predict incline to 48.5.
Figures to watch:
Manufacturing PMI (Tuesday 10:30)
ISM Manufacturing PMI (Tuesday 16:00)
