Key Statistics: 1st October 2012

Glenigan's weekly roundup of key statistics for the UK construction industry and the wider economy.

Construction

• The British Bankers Association (BBA) said that net mortgage lending for the year to July grew by 0.8%, David Dooks, Statistical Director commented, "We continue to see the household sector increasing deposits and repaying debt. High street bank ISAs continue to attract strong personal deposits while repayments of both mortgages and unsecured lending have grown strongly this year as households seek to reduce borrowing and borrowing costs.”

UK Economy

• Output figures for the second quarter were re-revised last week; the ONS now believe GDP contracted by 0.4% from the first quarter, an upward revision of 0.1%points. Output across the production industries was revised upwards, from -0.9% quarter on quarter to -0.7%, manufacturing contracted 0.8% over the same period, revised up from a fall of 0.9%.
• Consumer confidence in September, as measure by the GfK/NOP survey, showed that consumer sentiment was at the highest level since June last year.
• The index of services, which tracks service sector output, increased by 0.7% compared to July last year, the biggest increases were in output of Government services (1.6%) and business services and finance (0.8%).
• The UK manufacturing sector continued to contract in September according to the PMI index, the index fell to 48.4 from a reading of 49.5 in August, any reading below 50 signals contraction.