Key Statistics: 12th June 2012

Glenigan's weekly roundup of keys statistics for the UK construction industry and the wider economy.

Construction

• The latest Glenigan data shows a 1% decline in the underlying value of planning approvals over the three months to April, compared to the same period of 2011. 

UK Economy

• The Royal Institution of Chartered Surveyors reported that they only sold 23% of the homes on their books in the three months to May. During the same period of 2007, this figure stood at 41%.
• The UK’s short-term business prospects have improved, with the consensus on current trading reaching a 12-month high. BDO’s Output Index, which reflects the current experience of UK business people, climbed to 96.7 in May from 95.8 in April.
• House prices in the three months to May were 0.8% higher than in the preceding three months according to the Halifax House Price Index. However, prices in the three months to May were 0.1% lower than the same period a year earlier.
• According to the British Retail Consortium, UK retail sales values were up 1.3% in May on a like-for-like basis compared to a year ago. On a total basis, sales were up 3.4%, against May 2011.
• The Bank of England’s Monetary Policy Committee voted to maintain the official Bank Rate at 0.5%.
• In the year to May the ONS’ output price index for home sales of manufactured products rose 2.8%. The last time the annual rate was lower was in November 2009, when the index rose 2.6 per cent.