Key Statistics: 19 Aug 2014

Construction

• There was a 158% increase in the number of homes receiving planning permission on the greenbelt in English regions between 2009/10 and 2013/14, according to Glenigan’s Green Belt Under Development report. 5,600 homes received full planning approval in the 12 months to March 2014, up from 2,260 in the year to March 2010. Looking just at schemes of 3 or more units, permissions in the greenbelt accounted for 1.6% of all schemes given approval in 2013/14

Economy

• The UK unemployment rate fell once again in the three months April to June this year, reaching 6.4% according to the latest official Labour Market Statistics. However the figures on average earnings make much more gloomy reading; regular pay excluding bonuses rose by a paltry 0.6% in the same three month period relative to a year earlier, the weakest growth found since the records began in 2001. 
• A survey by the Chartered Institute of Personnel and Development (CIPD) suggests that on the whole wages will stay stagnant in real terms for another 12 months. The median private sector wage settlement is expected to be 2% over the year to June 2015, slightly above consensus forecasts for consumer price inflation. 
• The ONS’ secondary estimate of GDP confirmed growth in the second quarter at 0.8%. However a slight revision to the figures raised the annual rate of growth to 3.2%, from 3.1% initially estimated.