Cooling Property Market Hits UK Construction Activity

Businesses start to delay new contracts as slower growth and cooling property market dents business confidence.

House building fell to its lowest level in a year in October amid signs that Britain’s recovery is slowing down and the property market is slowing.

While demand remained strong, Markit’s closely-watched survey showed some businesses were delaying new contracts as slower growth dented business confidence.

“Some survey respondents commented that less favourable housing market conditions had resulted greater caution among clients and delays to the launch of new development projects,” Markit said.

Source: www.telegraph.co.uk

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Eurozone Gloom Hits Markets And Oil

Global stock markets plunged and the price of oil collapsed to its lowest level in more than fouryears this week as pessimism about the economic outlook for the Eurozone gripped investors around the world.


The FTSE 100 index of the UK’s leading shares fell 91.88 points, or 1.43pc, to 6,3339.97, its lowest mark in a year and 7.82pc below highs of 6,878 in May.


The “fear index” which is a measure of investor anxiety, known as the Vix, leapt by nearly 25pc as a draft of gloomy economic data emerged.


UK construction data showed output contracted by 3.9pc in August, much worse than analysts had predicted. Reports also emerged that Germany’s central bank would cut its official growth forecast next week.


The impact of Ebola and lurking geopolitical risks have added to the pessimism.


Source: The Telegraph


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