Below
is just a portion of the article that’s up on Bloomberg this morning….
is just a portion of the article that’s up on Bloomberg this morning….
U.K. Outlook Raised by
CBI as Construction Strengthens: Economy
CBI as Construction Strengthens: Economy
By Scott Hamilton
& Eshe Nelson – Nov 4, 2013 6:05 AM ET
& Eshe Nelson – Nov 4, 2013 6:05 AM ET
The Confederation of British Industry raised
its forecasts for U.K. economic growth and said business
investment and trade will aid the recovery starting next year.
its forecasts for U.K. economic growth and said business
investment and trade will aid the recovery starting next year.
The business lobby sees the economy
expanding 1.4 percent this year and 2.4 percent in 2014, it said in a quarterly
report. That’s up from 1.2 percent and 2.3 percent in August.
expanding 1.4 percent this year and 2.4 percent in 2014, it said in a quarterly
report. That’s up from 1.2 percent and 2.3 percent in August.
The projections came as a survey
from Markit Economics showed construction unexpectedly strengthened in October to the
fastest rate in six years, led by homebuilding.
from Markit Economics showed construction unexpectedly strengthened in October to the
fastest rate in six years, led by homebuilding.
Construction Growth
Markit said its index of
construction activity rose to 59.4 in October from 58.9 in September. The
median forecast of 15 economists was for a decline to 58.7. The gauge has been
above the 50 level that divides expansion from contraction since May.
construction activity rose to 59.4 in October from 58.9 in September. The
median forecast of 15 economists was for a decline to 58.7. The gauge has been
above the 50 level that divides expansion from contraction since May.
The improvement
boosted hiring, with payrolls rising at the fastest pace in six years, Markit
said. While housing growth cooled from its fastest in almost 10 years, it
remained the strongest sector. Civil engineering and commercial activity were
“robust,” it said.
boosted hiring, with payrolls rising at the fastest pace in six years, Markit
said. While housing growth cooled from its fastest in almost 10 years, it
remained the strongest sector. Civil engineering and commercial activity were
“robust,” it said.
Homebuilder Bellway Plc (BWY) said on Oct. 15 that its annual profit rose
37 percent as it benefited from the government’s Help to Buy initiative. The
measure is aimed at helping people to buy homes with small deposits, and
Bellway said that demand “remains strong in most areas of the country.”
37 percent as it benefited from the government’s Help to Buy initiative. The
measure is aimed at helping people to buy homes with small deposits, and
Bellway said that demand “remains strong in most areas of the country.”
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The government program is also
boosting house prices and has faced criticism that
it may fuel a property bubble. Nationwide Building Society said on Oct.
31 that values rose 1 percent in October from the previous month and were up
5.8 percent from a year earlier.
boosting house prices and has faced criticism that
it may fuel a property bubble. Nationwide Building Society said on Oct.
31 that values rose 1 percent in October from the previous month and were up
5.8 percent from a year earlier.
Reprographics 101 
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