Key Statistics: 13th March 2012

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

Construction

• The total volume of construction output fell by 2.3% in January compared with January 2011, according to the ONS.

UK Economy

• UK property sales edged up slightly in February, according to the latest survey from the Royal Institution of Chartered Surveyors. Average sales per estate agency branch in the survey rose from 15.7 to 16 last month.
• In February, the Bank of Scotland PMI – a seasonally adjusted index monitoring activity across Scotland’s manufacturing and service industries – rose from January’s mark of 51.4 to 51.7, signalling the fastest rise in business activity for five months
• The ONS’ seasonally adjusted Index of Production fell by 3.8% in January 2012 compared with a year ago. In addition, the Index of Manufacturing rose by 0.3% over the same period.
• The Bank of England voted to hold interest rates at 0.5%, marking three years since rates were first cut to the record low.