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May

  •  United States employers added 2 5 million jobs in May and the unemployment rate dropped slightly to 13 3 percent as businesses gradually reopen across the country the United States Bureau of Labor Statistics reported Friday The unemployment rate though still at a high level is not as high as expected According to a forecast from Wells Fargo Securities Economics Group released Thursday the unemployment rate could jump further in May to 20 percent The unemployment rate previously soared to a record 14 7 percent in April as COVID 19 continued to ravage the economy The 10 3 percentage point jump from March is the highest rate and the largest over the month increase since records were started being kept in January 1948 The latest job report showed that the unemployment rate declined by 1 4 percentage points to 13 3 percent in May and the number of unemployed persons fell by 2 1 million to 21 0 million These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the COVID 19 pandemic and efforts to contain it the bureau said In May employment rose sharply in leisure and hospitality construction education and health services and retail trade By contrast employment in government continued to decline sharply the bureau noted Despite the improvements the bureau said the unemployment rate and the number of unemployed persons are up by 9 8 percentage points and 15 2 million respectively since February XINHUA
    United States unemployment rate drops slightly to 13.3 pct in May as economy reopens
     United States employers added 2 5 million jobs in May and the unemployment rate dropped slightly to 13 3 percent as businesses gradually reopen across the country the United States Bureau of Labor Statistics reported Friday The unemployment rate though still at a high level is not as high as expected According to a forecast from Wells Fargo Securities Economics Group released Thursday the unemployment rate could jump further in May to 20 percent The unemployment rate previously soared to a record 14 7 percent in April as COVID 19 continued to ravage the economy The 10 3 percentage point jump from March is the highest rate and the largest over the month increase since records were started being kept in January 1948 The latest job report showed that the unemployment rate declined by 1 4 percentage points to 13 3 percent in May and the number of unemployed persons fell by 2 1 million to 21 0 million These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the COVID 19 pandemic and efforts to contain it the bureau said In May employment rose sharply in leisure and hospitality construction education and health services and retail trade By contrast employment in government continued to decline sharply the bureau noted Despite the improvements the bureau said the unemployment rate and the number of unemployed persons are up by 9 8 percentage points and 15 2 million respectively since February XINHUA
    United States unemployment rate drops slightly to 13.3 pct in May as economy reopens
    Foreign2 years ago

    United States unemployment rate drops slightly to 13.3 pct in May as economy reopens

    United States employers added 2.5 million jobs in May and the unemployment rate dropped slightly to 13.3 percent, as businesses gradually reopen across the country, the United States Bureau of Labor Statistics reported Friday.

    The unemployment rate, though still at a high level, is not as high as expected. According to a forecast from Wells Fargo Securities Economics Group released Thursday, the unemployment rate could jump further in May to 20 percent.

    The unemployment rate previously soared to a record 14.7 percent in April, as COVID-19 continued to ravage the economy. The 10.3-percentage-point jump from March is the highest rate and the largest over-the-month increase since records were started being kept in January 1948.

    The latest job report showed that the unemployment rate declined by 1.4 percentage points to 13.3 percent in May, and the number of unemployed persons fell by 2.1 million to 21.0 million.

    "These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the COVID-19 pandemic and efforts to contain it," the bureau said.

    "In May, employment rose sharply in leisure and hospitality, construction, education and health services, and retail trade. By contrast, employment in government continued to decline sharply," the bureau noted.

    Despite the improvements, the bureau said the unemployment rate and the number of unemployed persons are up by 9.8 percentage points and 15.2 million, respectively, since February.


    (XINHUA)

  •  British consumer confidence deteriorated in late May despite the country starting to further ease lockdown since mid May a survey from polling firm GfK said Friday The GfK released its third COVID 19 flash report using data gathered between May 20 and May 26 which showed that the long running consumer confidence index has decreased by two points over the past two weeks Consumer confidence index dropped across key measures to 36 just three points shy of the historic low of 39 in July 2008 the survey said Against a backdrop of falling house prices soaring jobless claims and with no sign of a rapid V shaped bounce back on the cards consumers remain pessimistic about the state of their finances and the wider economic picture for the year to come said Joe Staton GfK s client strategy director However the survey found latent demand among shoppers for big ticket items while most outlets remain closed The only bright spark is the Major Purchase Index with a six point fillip the survey said As the lockdown eases it will be interesting to see just how the consumer appetite for spending returns in a world of socially distanced shopping and the seismic shift to online retailing alongside worries of a fresh spike in COVID 19 cases as relaxations increase Staton said According to the government s three step plan to lift lockdown from May 13 workers who are unable to work from home can travel to work if their workplace is open Outdoor markets and car showrooms are allowed to reopen from June 1 in England and all non essential retailers will be able to reopen in England from June 15 The government has published new guidance for the retail sector to meet the necessary social distancing and hygiene standards XINHUA
    UK consumer confidence continues to slip in May: survey
     British consumer confidence deteriorated in late May despite the country starting to further ease lockdown since mid May a survey from polling firm GfK said Friday The GfK released its third COVID 19 flash report using data gathered between May 20 and May 26 which showed that the long running consumer confidence index has decreased by two points over the past two weeks Consumer confidence index dropped across key measures to 36 just three points shy of the historic low of 39 in July 2008 the survey said Against a backdrop of falling house prices soaring jobless claims and with no sign of a rapid V shaped bounce back on the cards consumers remain pessimistic about the state of their finances and the wider economic picture for the year to come said Joe Staton GfK s client strategy director However the survey found latent demand among shoppers for big ticket items while most outlets remain closed The only bright spark is the Major Purchase Index with a six point fillip the survey said As the lockdown eases it will be interesting to see just how the consumer appetite for spending returns in a world of socially distanced shopping and the seismic shift to online retailing alongside worries of a fresh spike in COVID 19 cases as relaxations increase Staton said According to the government s three step plan to lift lockdown from May 13 workers who are unable to work from home can travel to work if their workplace is open Outdoor markets and car showrooms are allowed to reopen from June 1 in England and all non essential retailers will be able to reopen in England from June 15 The government has published new guidance for the retail sector to meet the necessary social distancing and hygiene standards XINHUA
    UK consumer confidence continues to slip in May: survey
    Foreign2 years ago

    UK consumer confidence continues to slip in May: survey

    British consumer confidence deteriorated in late May despite the country starting to further ease lockdown since mid-May, a survey from polling firm GfK said Friday.

    The GfK released its third COVID-19 flash report using data gathered between May 20 and May 26, which showed that the long-running consumer confidence index has decreased by two points over the past two weeks.

    Consumer confidence index dropped across key measures to -36, just three points shy of the historic low of -39 in July 2008, the survey said.

    "Against a backdrop of falling house prices, soaring jobless claims, and with no sign of a rapid V-shaped bounce-back on the cards, consumers remain pessimistic about the state of their finances and the wider economic picture for the year to come," said Joe Staton, GfK's client strategy director.

    However, the survey found latent demand among shoppers for big-ticket items while most outlets remain closed. The only bright spark is the Major Purchase Index with a six-point fillip, the survey said.

    "As the lockdown eases, it will be interesting to see just how the consumer appetite for spending returns in a world of socially-distanced shopping and the seismic shift to online retailing -- alongside worries of a fresh spike in COVID-19 cases as relaxations increase," Staton said.

    According to the government's three-step plan to lift lockdown, from May 13, workers who are unable to work from home can travel to work if their workplace is open. Outdoor markets and car showrooms are allowed to reopen from June 1 in England and all non-essential retailers will be able to reopen in England from June 15.

    The government has published new guidance for the retail sector to meet the necessary social distancing and hygiene standards.


    (XINHUA)

  •  New car registration in Britain plunged by 89 percent in May compared with the same month a year earlier as the coronavirus lockdown restrictions continued to impact the market according to a report released Thursday Some 20 247 cars were registered in May even though click and collect services were introduced from mid month in a bid to inject some momentum into the market said the Society of Motor Manufacturers and Traders SMMT in the report Data showed that apart from battery electric vehicles all segments and fuel types saw severe declines with the sales of diesel and petrol vehicles in the month plummeting by 93 percent and 90 5 percent respectively over the same month last year The figures came as car showrooms in England have been allowed to re open since the beginning of June following more than two months of shutdown Car showrooms remain closed in Scotland Wales and Northern Ireland until next week After a second month of shutdown and the inevitable yet devastating impact on the market this week s re opening of dealerships is a pivotal moment for the entire industry and the thousands of people whose jobs depend on it said Mike Hawes chief executive of the SMMT Customers keen to trade up into the latest cutting edge new cars are now able to return to showrooms and early reports suggest there is good business given the circumstances although it is far too early to tell how demand will pan out over the coming weeks and months said Hawes Hawes added that restarting the market is a crucial first step in driving the recovery of the country s critical car manufacturers and supply chain and supporting the wider economy Ensuring people have the confidence to invest in the latest vehicles will not only help them get on the move safely but these new models will also help address some of the environmental challenges the UK faces in the long term he said XINHUA
    UK new car sales collapse in May as lockdown continues to impact market
     New car registration in Britain plunged by 89 percent in May compared with the same month a year earlier as the coronavirus lockdown restrictions continued to impact the market according to a report released Thursday Some 20 247 cars were registered in May even though click and collect services were introduced from mid month in a bid to inject some momentum into the market said the Society of Motor Manufacturers and Traders SMMT in the report Data showed that apart from battery electric vehicles all segments and fuel types saw severe declines with the sales of diesel and petrol vehicles in the month plummeting by 93 percent and 90 5 percent respectively over the same month last year The figures came as car showrooms in England have been allowed to re open since the beginning of June following more than two months of shutdown Car showrooms remain closed in Scotland Wales and Northern Ireland until next week After a second month of shutdown and the inevitable yet devastating impact on the market this week s re opening of dealerships is a pivotal moment for the entire industry and the thousands of people whose jobs depend on it said Mike Hawes chief executive of the SMMT Customers keen to trade up into the latest cutting edge new cars are now able to return to showrooms and early reports suggest there is good business given the circumstances although it is far too early to tell how demand will pan out over the coming weeks and months said Hawes Hawes added that restarting the market is a crucial first step in driving the recovery of the country s critical car manufacturers and supply chain and supporting the wider economy Ensuring people have the confidence to invest in the latest vehicles will not only help them get on the move safely but these new models will also help address some of the environmental challenges the UK faces in the long term he said XINHUA
    UK new car sales collapse in May as lockdown continues to impact market
    Foreign2 years ago

    UK new car sales collapse in May as lockdown continues to impact market

    New car registration in Britain plunged by 89 percent in May compared with the same month a year earlier, as the coronavirus lockdown restrictions continued to impact the market, according to a report released Thursday.

    Some 20,247 cars were registered in May, even though "click and collect" services were introduced from mid-month in a bid to inject some momentum into the market, said the Society of Motor Manufacturers and Traders (SMMT) in the report.

    Data showed that apart from battery electric vehicles, all segments and fuel types saw severe declines, with the sales of diesel and petrol vehicles in the month plummeting by 93 percent and 90.5 percent respectively over the same month last year.

    The figures came as car showrooms in England have been allowed to re-open since the beginning of June following more than two months of shutdown. Car showrooms remain closed in Scotland, Wales and Northern Ireland until next week.

    "After a second month of shutdown and the inevitable yet devastating impact on the market, this week's re-opening of dealerships is a pivotal moment for the entire industry and the thousands of people whose jobs depend on it," said Mike Hawes, chief executive of the SMMT.

    "Customers keen to trade up into the latest, cutting-edge new cars are now able to return to showrooms and early reports suggest there is good business given the circumstances, although it is far too early to tell how demand will pan out over the coming weeks and months," said Hawes.

    Hawes added that restarting the market is a crucial "first step" in driving the recovery of the country's critical car manufacturers and supply chain, and supporting the wider economy.

    "Ensuring people have the confidence to invest in the latest vehicles will not only help them get on the move safely, but these new models will also help address some of the environmental challenges the UK faces in the long term," he said.


    (XINHUA)

  •  British car sales edged up in May after falling to their lowest since 1946 in April but still remained almost 90 per cent below their level a year earlier as coronavirus restrictions limited sales Preliminary figures from the Society of Motor Manufacturers and Traders SMMT on Thursday showed that around 20 000 new cars were registered last month up from just 4 321 in April but just a fraction of the 183 724 sold in May 2019 Car showrooms in England have only been able to reopen to potential buyers since Monday though some vehicles were delivered directly to customers last month and in April Thursday s data fit with other figures showing that the sharpest decline in British economic activity occurred in April just after the lockdown came into force Since then some rules have been relaxed and other businesses have been able to find ways to comply with them and restart operations AIB Edited By Abdulfatah Babatunde NAN
    UK car sales almost 90% below normal in May – SMMT
     British car sales edged up in May after falling to their lowest since 1946 in April but still remained almost 90 per cent below their level a year earlier as coronavirus restrictions limited sales Preliminary figures from the Society of Motor Manufacturers and Traders SMMT on Thursday showed that around 20 000 new cars were registered last month up from just 4 321 in April but just a fraction of the 183 724 sold in May 2019 Car showrooms in England have only been able to reopen to potential buyers since Monday though some vehicles were delivered directly to customers last month and in April Thursday s data fit with other figures showing that the sharpest decline in British economic activity occurred in April just after the lockdown came into force Since then some rules have been relaxed and other businesses have been able to find ways to comply with them and restart operations AIB Edited By Abdulfatah Babatunde NAN
    UK car sales almost 90% below normal in May – SMMT
    Economy2 years ago

    UK car sales almost 90% below normal in May – SMMT

    British car sales edged up in May after falling to their lowest since 1946 in April but still remained almost 90 per cent below their level a year earlier as coronavirus restrictions limited sales.

    Preliminary figures from the Society of Motor Manufacturers and Traders (SMMT) on Thursday showed that around 20,000 new cars were registered last month, up from just 4,321 in April but just a fraction of the 183,724 sold in May 2019.

    Car showrooms in England have only been able to reopen to potential buyers since Monday, though some vehicles were delivered directly to customers last month and in April.

    Thursday’s data fit with other figures showing that the sharpest decline in British economic activity occurred in April, just after the lockdown came into force.

    Since then, some rules have been relaxed and other businesses have been able to find ways to comply with them and restart operations.

    AIB


    Edited By: Abdulfatah Babatunde (NAN)

  •  Ireland s jobless rate in May went down slightly to 26 1 percent from the previous month s figure of 28 2 percent said the country s Central Statistics Office CSO on Wednesday The jobless figure was calculated by taking into account the number of people who lived on the state support income during the COVID 19 pandemic said the CSO in a statement But the seasonally adjusted monthly unemployment rate for May if based on standard methodology stood at 5 6 percent up from 5 4 percent in April according to the CSO On March 16 the Irish government initiated a scheme called COVID 19 Pandemic Unemployment Payment under which people who lost their jobs due to the pandemic can get paid by the government at a weekly rate of 350 euros about 393 United States dollars for 12 weeks The scheme has created a huge burden on the government At the peak time nearly 600 000 people in Ireland were in the receipt of the payment according to the Irish Department of Employment Affairs and Social Protection Irish Finance Minister Paschal Donohoe said on Wednesday that the government s overall deficit in May jumped to 6 143 billion euros from 63 million euros in the same month of last year Earlier last month Donohoe predicted that the fiscal deficit for this year will increase to more than 23 billion euros which will account for about 7 4 percent of the country s gross domestic product In recent days he revised up the figure to 30 billion euros The finance minister has repeatedly hinted that such a situation is not sustainable and the government may make adjustments to the scheme while pledging to extend it beyond 12 weeks if needed 1 euro 1 12 U S dollars XINHUA
    Ireland’s jobless rate in May slightly down to 26.1 pct
     Ireland s jobless rate in May went down slightly to 26 1 percent from the previous month s figure of 28 2 percent said the country s Central Statistics Office CSO on Wednesday The jobless figure was calculated by taking into account the number of people who lived on the state support income during the COVID 19 pandemic said the CSO in a statement But the seasonally adjusted monthly unemployment rate for May if based on standard methodology stood at 5 6 percent up from 5 4 percent in April according to the CSO On March 16 the Irish government initiated a scheme called COVID 19 Pandemic Unemployment Payment under which people who lost their jobs due to the pandemic can get paid by the government at a weekly rate of 350 euros about 393 United States dollars for 12 weeks The scheme has created a huge burden on the government At the peak time nearly 600 000 people in Ireland were in the receipt of the payment according to the Irish Department of Employment Affairs and Social Protection Irish Finance Minister Paschal Donohoe said on Wednesday that the government s overall deficit in May jumped to 6 143 billion euros from 63 million euros in the same month of last year Earlier last month Donohoe predicted that the fiscal deficit for this year will increase to more than 23 billion euros which will account for about 7 4 percent of the country s gross domestic product In recent days he revised up the figure to 30 billion euros The finance minister has repeatedly hinted that such a situation is not sustainable and the government may make adjustments to the scheme while pledging to extend it beyond 12 weeks if needed 1 euro 1 12 U S dollars XINHUA
    Ireland’s jobless rate in May slightly down to 26.1 pct
    Foreign2 years ago

    Ireland’s jobless rate in May slightly down to 26.1 pct

    Ireland's jobless rate in May went down slightly to 26.1 percent from the previous month's figure of 28.2 percent, said the country's Central Statistics Office (CSO) on Wednesday.

    The jobless figure was calculated by taking into account the number of people who lived on the state support income during the COVID-19 pandemic, said the CSO in a statement.

    But the seasonally adjusted monthly unemployment rate for May, if based on standard methodology, stood at 5.6 percent, up from 5.4 percent in April, according to the CSO.

    On March 16, the Irish government initiated a scheme called COVID-19 Pandemic Unemployment Payment, under which people who lost their jobs due to the pandemic can get paid by the government at a weekly rate of 350 euros (about 393 United States dollars) for 12 weeks.

    The scheme has created a huge burden on the government.

    At the peak time, nearly 600,000 people in Ireland were in the receipt of the payment, according to the Irish Department of Employment Affairs and Social Protection.

    Irish Finance Minister Paschal Donohoe said on Wednesday that the government's overall deficit in May jumped to 6.143 billion euros from 63 million euros in the same month of last year.

    Earlier last month, Donohoe predicted that the fiscal deficit for this year will increase to more than 23 billion euros, which will account for about 7.4 percent of the country's gross domestic product. In recent days, he revised up the figure to 30 billion euros.

    The finance minister has repeatedly hinted that such a situation is not sustainable and the government may make adjustments to the scheme while pledging to extend it beyond 12 weeks if needed. (1 euro = 1.12 U.S. dollars)


    (XINHUA)

  •  The registered jobless in Slovenia was up by 2 percent on a monthly basis to 90 415 in May the Employment Service of Slovenia reported on Wednesday But the trend slowed down as the country started the normalization process with the coronavirus restrictions easing The number of people who registered with the Employment Service in May was almost halved 45 percent compared to April standing at 7 928 which was however 75 6 percent more than in May 2019 Among the unemployed those who saw their fixed term contracts expire represented the largest number 3 915 followed by permanently redundant workers 2 585 and first job seekers 389 Commenting the figures the Ministry of Labour said that they were somewhat more encouraging and inspired optimism but added that we should remain objective despite the positive trend according to the Slovenian Press Agency STA The Government Office for Development and European Cohesion Policy has announced a financial support program worth 4 6 million euros about 5 2 million U S dollars for workers laid off during the epidemic As part of the program which is fully covered by the European Social Fund and implemented by the Employment Service temporary compensation career consultancy and inclusion in the existing active employment policies will be provided for around 2 500 unemployed people XINHUA
    Slovenia’s registered jobless up by 2 pct in May
     The registered jobless in Slovenia was up by 2 percent on a monthly basis to 90 415 in May the Employment Service of Slovenia reported on Wednesday But the trend slowed down as the country started the normalization process with the coronavirus restrictions easing The number of people who registered with the Employment Service in May was almost halved 45 percent compared to April standing at 7 928 which was however 75 6 percent more than in May 2019 Among the unemployed those who saw their fixed term contracts expire represented the largest number 3 915 followed by permanently redundant workers 2 585 and first job seekers 389 Commenting the figures the Ministry of Labour said that they were somewhat more encouraging and inspired optimism but added that we should remain objective despite the positive trend according to the Slovenian Press Agency STA The Government Office for Development and European Cohesion Policy has announced a financial support program worth 4 6 million euros about 5 2 million U S dollars for workers laid off during the epidemic As part of the program which is fully covered by the European Social Fund and implemented by the Employment Service temporary compensation career consultancy and inclusion in the existing active employment policies will be provided for around 2 500 unemployed people XINHUA
    Slovenia’s registered jobless up by 2 pct in May
    Foreign2 years ago

    Slovenia’s registered jobless up by 2 pct in May

    The registered jobless in Slovenia was up by 2 percent on a monthly basis to 90,415 in May, the Employment Service of Slovenia reported on Wednesday.

    But the trend slowed down as the country started the normalization process with the coronavirus restrictions easing.

    The number of people who registered with the Employment Service in May was almost halved (-45 percent) compared to April, standing at 7,928, which was, however, 75.6 percent more than in May 2019.

    Among the unemployed, those who saw their fixed-term contracts expire represented the largest number (3,915), followed by permanently redundant workers (2,585) and first job-seekers (389).

    Commenting the figures, the Ministry of Labour said that they were somewhat more encouraging and inspired optimism, but added that "we should remain objective despite the positive trend," according to the Slovenian Press Agency (STA).

    The Government Office for Development and European Cohesion Policy has announced a financial support program worth 4.6 million euros (about 5.2 million U.S. dollars) for workers laid off during the epidemic.

    As part of the program, which is fully covered by the European Social Fund and implemented by the Employment Service, temporary compensation, career consultancy and inclusion in the existing active employment policies will be provided for around 2,500 unemployed people.


    (XINHUA)

  •  South Korea s foreign reserves rose for two straight months in May as the weak U S dollar raised the conversion value of non dollar assets central bank data showed Wednesday Foreign reserves amounted to 407 3 billion U S dollars as of the end of May up 3 33 billion dollars from a month earlier according to the Bank of Korea BOK It increased by 3 77 billion dollars in April The expansion came as the dollar weakness lifted the conversion value of non dollar assets The country s foreign reserves were composed of 365 71 billion dollars of securities 30 01 billion dollars of deposits 4 79 billion dollars of gold bullion 2 8 billion dollars of special drawing rights SDR and 3 99 billion dollars of IMF positions South Korea was the world s ninth largest holder of foreign reserves as of end April unchanged from the previous month XINHUA
    S.Korea’s foreign reserves rise to 407.3 bln USD in May
     South Korea s foreign reserves rose for two straight months in May as the weak U S dollar raised the conversion value of non dollar assets central bank data showed Wednesday Foreign reserves amounted to 407 3 billion U S dollars as of the end of May up 3 33 billion dollars from a month earlier according to the Bank of Korea BOK It increased by 3 77 billion dollars in April The expansion came as the dollar weakness lifted the conversion value of non dollar assets The country s foreign reserves were composed of 365 71 billion dollars of securities 30 01 billion dollars of deposits 4 79 billion dollars of gold bullion 2 8 billion dollars of special drawing rights SDR and 3 99 billion dollars of IMF positions South Korea was the world s ninth largest holder of foreign reserves as of end April unchanged from the previous month XINHUA
    S.Korea’s foreign reserves rise to 407.3 bln USD in May
    Foreign2 years ago

    S.Korea’s foreign reserves rise to 407.3 bln USD in May

    South Korea's foreign reserves rose for two straight months in May as the weak U.S. dollar raised the conversion value of non-dollar assets, central bank data showed Wednesday.

    Foreign reserves amounted to 407.3 billion U.S. dollars as of the end of May, up 3.33 billion dollars from a month earlier, according to the Bank of Korea (BOK). It increased by 3.77 billion dollars in April.

    The expansion came as the dollar weakness lifted the conversion value of non-dollar assets.

    The country's foreign reserves were composed of 365.71 billion dollars of securities, 30.01 billion dollars of deposits, 4.79 billion dollars of gold bullion, 2.8 billion dollars of special drawing rights (SDR) and 3.99 billion dollars of IMF positions.

    South Korea was the world's ninth-largest holder of foreign reserves as of end-April, unchanged from the previous month.


    (XINHUA)

  •  Britain s average house price saw the largest monthly fall in May 2020 since February 2009 as lockdown restriction impacted heavily on housing market amid the COVID 19 pandemic mortgage lender the Nationwide Building Society said Tuesday The average house price across Britain in May was 218 902 pounds about 275 016 U S dollars dropping by 1 7 percent compared with the same month a year earlier said the Nationwide in its House Price Indices Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus said Robert Gardner Nationwide s chief economist Meanwhile the annual rate of house price growth in May slid to 1 8 percent down from 3 7 percent in April Behavioural changes and social distancing are likely to impact the flow of housing transactions for some time said the mortgage lender in its report adding that most viewed the current situation as a temporary pause in the market with would be buyers now planning to wait six months on average before looking to enter the market At the same time the number of mortgage approvals for house purchase plummeted to around 15 800 in April 2020 with nearly 80 percent below the February level hitting the lowest since the series began in 1993 said a report issued by the Bank of England Tuesday Weakness in the housing market associated with COVID 19 was reflected in weak mortgage market activity in April said the contral bank Low transaction levels may still make gauging price trends difficult in the coming months especially for regional indices which by their nature have lower sample sizes said Gardner According to the Nationwide the medium term outlook for the housing market remains highly uncertain and will highly depend on the performance of the wider economy However the raft of policies adopted to support the economy including to protect businesses and jobs to support peoples incomes and keep borrowing costs down should set the stage for a rebound once the shock passes and help limit long term damage to the economy said the Nationwide XINHUA
    UK house prices see largest monthly fall in May since 2009: survey
     Britain s average house price saw the largest monthly fall in May 2020 since February 2009 as lockdown restriction impacted heavily on housing market amid the COVID 19 pandemic mortgage lender the Nationwide Building Society said Tuesday The average house price across Britain in May was 218 902 pounds about 275 016 U S dollars dropping by 1 7 percent compared with the same month a year earlier said the Nationwide in its House Price Indices Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus said Robert Gardner Nationwide s chief economist Meanwhile the annual rate of house price growth in May slid to 1 8 percent down from 3 7 percent in April Behavioural changes and social distancing are likely to impact the flow of housing transactions for some time said the mortgage lender in its report adding that most viewed the current situation as a temporary pause in the market with would be buyers now planning to wait six months on average before looking to enter the market At the same time the number of mortgage approvals for house purchase plummeted to around 15 800 in April 2020 with nearly 80 percent below the February level hitting the lowest since the series began in 1993 said a report issued by the Bank of England Tuesday Weakness in the housing market associated with COVID 19 was reflected in weak mortgage market activity in April said the contral bank Low transaction levels may still make gauging price trends difficult in the coming months especially for regional indices which by their nature have lower sample sizes said Gardner According to the Nationwide the medium term outlook for the housing market remains highly uncertain and will highly depend on the performance of the wider economy However the raft of policies adopted to support the economy including to protect businesses and jobs to support peoples incomes and keep borrowing costs down should set the stage for a rebound once the shock passes and help limit long term damage to the economy said the Nationwide XINHUA
    UK house prices see largest monthly fall in May since 2009: survey
    Foreign2 years ago

    UK house prices see largest monthly fall in May since 2009: survey

    Britain's average house price saw the largest monthly fall in May 2020 since February 2009, as lockdown restriction impacted heavily on housing market amid the COVID-19 pandemic, mortgage lender the Nationwide Building Society said Tuesday.

    The average house price across Britain in May was 218,902 pounds (about 275,016 U.S. dollars), dropping by 1.7 percent compared with the same month a year earlier, said the Nationwide in its House Price Indices.

    "Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus," said Robert Gardner, Nationwide's chief economist.

    Meanwhile, the annual rate of house price growth in May slid to 1.8 percent, down from 3.7 percent in April.

    "Behavioural changes and social distancing are likely to impact the flow of housing transactions for some time," said the mortgage lender in its report, adding that "most viewed the current situation as a temporary pause in the market, with would-be buyers now planning to wait six months on average before looking to enter the market."

    At the same time, the number of mortgage approvals for house purchase plummeted to around 15,800 in April 2020, with nearly 80 percent below the February level, hitting the lowest since the series began in 1993, said a report issued by the Bank of England Tuesday.

    "Weakness in the housing market associated with COVID-19 was reflected in weak mortgage market activity in April," said the contral bank.

    "Low transaction levels may still make gauging price trends difficult in the coming months -- especially for regional indices, which by their nature have lower sample sizes," said Gardner.

    According to the Nationwide, the medium-term outlook for the housing market remains "highly uncertain" and will highly depend on the performance of the wider economy.

    "However, the raft of policies adopted to support the economy, including to protect businesses and jobs, to support peoples' incomes and keep borrowing costs down, should set the stage for a rebound once the shock passes, and help limit long-term damage to the economy," said the Nationwide.


    (XINHUA)

  •  Portraits of May 2020 src https nnn ng wp content uploads 2020 06 139108774_15911053216511n jpg sourcename sourcedescription gt Portraits of May 2020 src https nnn ng wp content uploads 2020 06 139108774_15911053216511n jpg sourcename sourcedescription gt A COVID 19 patient shakes hands with a nurse as he is moved out of an ICU ward of a hospital in Barcelona Spain on May 7 2020 Photo by Francisco Avia Xinhua
    Portraits of May 2020
     Portraits of May 2020 src https nnn ng wp content uploads 2020 06 139108774_15911053216511n jpg sourcename sourcedescription gt Portraits of May 2020 src https nnn ng wp content uploads 2020 06 139108774_15911053216511n jpg sourcename sourcedescription gt A COVID 19 patient shakes hands with a nurse as he is moved out of an ICU ward of a hospital in Barcelona Spain on May 7 2020 Photo by Francisco Avia Xinhua
    Portraits of May 2020
    Foreign2 years ago

    Portraits of May 2020

    <a id= Portraits of May 2020" src="https://i1.wp.com/nnn.ng/wp-content/uploads/2020/06/139108774_15911053216511n.jpg" sourcename="本地文件" sourcedescription="网上抓取的文件">

    <a id= Portraits of May 2020" src="https://i1.wp.com/nnn.ng/wp-content/uploads/2020/06/139108774_15911053216511n.jpg" sourcename="本地文件" sourcedescription="网上抓取的文件">

    A COVID-19 patient shakes hands with a nurse as he is moved out of an ICU ward of a hospital in Barcelona, Spain, on May 7, 2020. (Photo by Francisco Avia/Xinhua)

  •  Mirroring the performance in the four wheeler auto space Indian two wheeler companies too replicated a similar performance reporting 70 83 percent decline in the May month sales from the same month a year ago During the month under review Bajaj Auto TVS Motors and Hero MotoCorp reported 70 percent 82 percent and 83 percent decline to 127 128 units 41 067 units and 112 682 units respectively from the same month last year as per updates filed with the Bombay Stock Exchange In the preceding month of April all two wheeler companies in India had reported nil sales with a few units of exports during the initial period of nation wide lockdown due to COVID 19 Asia s third largest economy had been under nation wide lock down for over two months and had recently extended the lock down with few relaxations till June 30 India which now ranks seventh among all countries in terms of number of confirmed cases has 97 581 active cases and 5 598 deaths reported so far as per the official update on Tuesday The automobile industry volumes are impacted for the period due to low demand sentiment increased prices on account of BS VI and worsened by the recent COVID 19 outbreak However pickup in demand is expected from second half of 2020 21 Apr Mar considering the improvement in rural demand scenario better monsoons and government s thrust on the revival of the overall economy said Naveen Dubey auto analyst with Narnolia Financial Advisors a domestic stock brokerage house Going ahead margins are expected to remain on the lower side due to higher BS VI cost and weaker operating leverage despite reduction in commodity prices Dubey said In 2019 20 Apr Mar Indian two wheeler industry reported sales of 17 4 million units down 17 8 percent over the previous year according to industry body SIAM Society of Indian Automobile Manufacturers XINHUA
    Indian 2-wheeler sales decline by 70-83 pct in May as COVID-19 bites
     Mirroring the performance in the four wheeler auto space Indian two wheeler companies too replicated a similar performance reporting 70 83 percent decline in the May month sales from the same month a year ago During the month under review Bajaj Auto TVS Motors and Hero MotoCorp reported 70 percent 82 percent and 83 percent decline to 127 128 units 41 067 units and 112 682 units respectively from the same month last year as per updates filed with the Bombay Stock Exchange In the preceding month of April all two wheeler companies in India had reported nil sales with a few units of exports during the initial period of nation wide lockdown due to COVID 19 Asia s third largest economy had been under nation wide lock down for over two months and had recently extended the lock down with few relaxations till June 30 India which now ranks seventh among all countries in terms of number of confirmed cases has 97 581 active cases and 5 598 deaths reported so far as per the official update on Tuesday The automobile industry volumes are impacted for the period due to low demand sentiment increased prices on account of BS VI and worsened by the recent COVID 19 outbreak However pickup in demand is expected from second half of 2020 21 Apr Mar considering the improvement in rural demand scenario better monsoons and government s thrust on the revival of the overall economy said Naveen Dubey auto analyst with Narnolia Financial Advisors a domestic stock brokerage house Going ahead margins are expected to remain on the lower side due to higher BS VI cost and weaker operating leverage despite reduction in commodity prices Dubey said In 2019 20 Apr Mar Indian two wheeler industry reported sales of 17 4 million units down 17 8 percent over the previous year according to industry body SIAM Society of Indian Automobile Manufacturers XINHUA
    Indian 2-wheeler sales decline by 70-83 pct in May as COVID-19 bites
    Foreign2 years ago

    Indian 2-wheeler sales decline by 70-83 pct in May as COVID-19 bites

    Mirroring the performance in the four-wheeler auto space, Indian two-wheeler companies too replicated a similar performance reporting 70-83 percent decline in the May month sales from the same month a year ago.

    During the month under review, Bajaj Auto, TVS Motors and Hero MotoCorp reported 70 percent, 82 percent and 83 percent decline to 127,128 units, 41,067 units and 112,682 units, respectively from the same month last year, as per updates filed with the Bombay Stock Exchange.

    In the preceding month of April, all two-wheeler companies in India had reported nil sales with a few units of exports during the initial period of nation-wide lockdown due to COVID-19.

    Asia’s third largest economy had been under nation-wide lock down for over two months and had recently extended the lock-down with few relaxations till June 30.

    India, which now ranks seventh among all countries in terms of number of confirmed cases, has 97,581 active cases and 5,598 deaths reported so far as per the official update on Tuesday.

    “The automobile industry volumes are impacted for the period due to low demand sentiment, increased prices on account of BS VI and worsened by the recent COVID-19 outbreak. However, pickup in demand is expected from second half of 2020-21 ((Apr-Mar) considering the improvement in rural demand scenario, better monsoons and government’s thrust on the revival of the overall economy,” said Naveen Dubey, auto analyst with Narnolia Financial Advisors, a domestic stock brokerage house.

    Going ahead, margins are expected to remain on the lower side due to higher BS-VI cost and weaker operating leverage despite reduction in commodity prices, Dubey said.

    In 2019-20 (Apr-Mar), Indian two-wheeler industry reported sales of 17.4 million units, down 17.8 percent over the previous year, according to industry body SIAM (Society of Indian Automobile Manufacturers).


    (XINHUA)

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