Shock figures on UK economic growth

UK GDP actually fell by 0.5% in the fourth quarter of 2010, according to figures just released by the Office for National Statistics. This figure has come as a complete shock to economics observers, with most analysts predicting a growth figure of between 0.2% and 0.7%. Since the recovery started in the final quarter of 2009, we have seen four … Continue reading

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House prices are now 18% below their pre-recession peak

House prices fell 1.3% between November and December 2010 according to the Halifax. This meant a further fall of about £2,000 in the average price of a house, which now stands at £163,435. Overall, there was a fall in prices of 1.6% over 2010 as a whole, and house prices are now about 18% below their peak in the third … Continue reading

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Could the global recovery be hit by rising oil prices?

Earlier this week the price of Brent Crude oil rose to $95 a barrel, which was the highest level for just over two years. Although this has fallen slightly since it is still a major cause for concern. There are pressures on both the demand and supply sides. The International Energy Agency has forecast that oil consumption will increase by … Continue reading

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House prices fell in February

House prices fell by 1.5% in February, the first fall since June 2009, according to the Halifax. This gave an average house price of £166,857, which was 8% higher than the trough that was reached in April 2009. Commenting on the figures, Martin Ellis, Halifax housing economist said: “An increase in the number of properties available for sale has helped … Continue reading

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