Key Statistics: 19th November 2013

Construction

• The CPA's Construction Trade Survey for Q3 reported growth in activity for building contractors, SMEs, specialist contractors, civil engineers and product manufacturers, indicating a broad rise in work across the industry.

• The government announced that £1.9bn will be invested into England’s roads during 2014, as part of an ongoing £4.3bn spending programme.

Economy

• The unemployment rate fell to 7.6% in the three months to September. The employment rate rose to 71.8%, with 177,000 more people in employment than during the three months April to June. Wage rises remain well below inflation and a record number of people are working part time because they cannot find full time work. 

• Following strong job creation figures, The Bank of England brought forward its forecast of when the unemployment rate will reach 7%, the point at which it will consider raising interest rates. This is now forecast for late 2014/early 2015, a year earlier than in the bank’s previous forecast. 

• Retail sales volumes in October were 0.7% less than in September, according to the ONS. Averaged over the three months to October, volumes were flat on the previous three month period representing a stall in the growth seen during the previous six months.