020 7898 0500Yesterday’s economic news was understandably dominated by the ECB meeting which struck quite a dovish tone throughout. However, there was some good news for the UK as Halifax’s monthly survey showed that house prices rose by 1.1% in August – the highest reading for eight months. However, they are still only 0.1% higher over the second quarter as there was a decline in June. The annual rate came in at 2.6% for August, compared with 2.1% in July.
Unfortunately, it wasn’t an entirely rosy day for the UK as it was confirmed as the joint-slowest EU economy last quarter. The eurozone as a whole grew by 0.6% in the second quarter, while Britain and Portugal grew by just 0.3% between April and June.
Today is a fairly quiet day for UK economic data, although the industrial, construction and manufacturing numbers will be released later.
