Key Statistics: 3rd July 2012

Construction

• The Glenigan Index for construction starts fell by 3% in the three months to June, compared to the same period a year ago.

UK Economy

• The seasonally adjusted Index of Services, released by the ONS, increased by 2.0% in April 2012 compared with April 2011.
• UK labour productivity fell by 1.3% in the first quarter of 2012 on an output per hour basis. Market sector productivity fell by 1.6% on this basis.
• The UK’s current account deficit was £11.2 billion in the first quarter of 2012, up from a revised deficit of £7.2 billion in the previous quarter. The trade deficit widened to £7.8 billion in the first quarter of 2012, up from £5.6 billion the previous quarter.
• Business investment during the first quarter of 2012 rose by £0.6 billion to £30.5 billion (1.9%) in seasonally adjusted terms when compared with the previous quarter.
• The volume of expenditure on goods and services (seasonally adjusted) fell by 0.1% in Q1 2012, following growth of 0.5% in Q4 2011.
• According to the Land Registry, house prices in May increased 0.5% since April: the average house price in England and Wales is now £161,677.