Key Statistics: 7th February 2012

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

UK Economy

• UK house prices declined by 0.2% in January, according to the Nationwide’s House Price Index. However, the average price of £162,228 was 0.6% higher than January 2011.
• The Halifax House Price Index, however, recorded a 0.6% increase over January. The average UK house price recorded last month was £160,907; a 1.8% drop on January 2011.
• UK bank lending is set to shrink this year for the first time since 2009, according to the Ernst & Young Item Club economic forecasting group. Total lending is expected to fall by 2.2% with corporate loans down 5.7%.
• Latest statistics from The Insolvency Service showed that there were 4,260 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the fourth quarter of 2011. This was an increase of 0.4% on the previous quarter and an increase of 7.2% on the same period a year ago.
• According to the CBI Industrial Trades Survey, sentiment among the UK’s small and medium-sized manufacturers fell for the third quarter running in the three months to January, as output stagnated and orders fell. Domestic orders fell for a balance of -17% of firms and export orders fell for the second quarter running (-10%), both at the fastest rates since October 2009.