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  • Glenigan data shows that the value of contracts awarded over the three months to May fell by 35% compared to the same period a year ago.

UK Economy

  • The unemployment rate has dropped to 8.2% of the economically active population in the three months to April.
  • According to the ONS, retail sales values in May are estimated to have increased by 3.3% compared with May 2011. Sales volumes are estimated to have increased by 2.4% over the same period.
  • Gross mortgage lending in May was an estimated £12.2 billion, according to the Council of Mortgage Lenders. This represents a 24% rise from £9.9 billion in April and a 13% rise from May 2011.
  • Of the manufacturers responding to the CBI’s June Industrial Trends Survey, 27% expect to increase their volume of output over the course of the next three months, while only 19% expect it to fall. In addition the flow of orders saw an improvement in June, with 17% reporting that order books were above normal.

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