Latest Economic Indicators 

House Price Index

December Monthly Index*: 431.9 (November 2019: 431.3)
Monthly Change*: +0.5% (November 2019: +0.1%)
Annual Change to December: +1.4% (November: 2019: +0.8%)
December Average Price: £215,282 (November 2019: £215,734) (not seasonally adjusted)

* Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated)

Nationwide’s Chief Economist – Robert Gardner said

“Looking ahead, economic developments will remain the key driver of housing market trends and house prices. Much will continue to depend on how quickly uncertainty about the UK’s future trading relationships lifts as well as the outlook for global growth.

“Overall, we expect the economy to continue to expand at a modest pace in 2020, with house prices remaining broadly flat over the next twelve months.

ONS UK Retail sales

Familiar view on our high streets – all year?

Main points:

The ONS has reported on retail sales for the four-week period 27 October to 23 November:

• In the three months to November 2019, the volume bought in retail sales decreased by 0.4% when compared with the previous three months; this is the first decline since April 2018.
• The quantity bought in November 2019 fell by 0.6% when compared with the previous month, with only household goods stores reporting growth.
• Year-on-year growth in the quantity bought increased by 1.0% in November 2019; this is the lowest growth since April 2018, owing to a decline of 1.1% in non-food stores.
• Online sales as a proportion of all retailing was 18.7% in November 2019, compared with the 19.1% reported in October 2019.

Period: November 2019
Publication Date: 19th December 2019 (ONS)
Next Release Date: 20th January 2020

UK Consumer Price Index 

Main points from November 2019:

• The Consumer Prices Index including housing costs (CPIH) 12-month inflation rate was 1.5% in November 2019, unchanged from October 2019.
• The largest offsetting upward contributions came from food, and recreation and culture, where prices rose this year by more than a year ago.
• The Consumer Prices Index (CPI) 12-month rate was 1.5% in November 2019, unchanged from October 2019.

UK Labour Market

Unemployment rate: 3.8% (August to October 2019)
Previous rolling quarter: 3.8% (July to September 2019)

EAST ANGLIA

• Here in the East just 3.2% at end of October

UK GDP

• UK GDP was flat in the three months to October 2019
• GDP was flat in October 2019- The services sector grew by 0.2% in the three months to October 2019- The production sector fell by 0.7% in the three months to October 2019Output in the construction industry fell by 0.3% in the three months to October 2019

EAST ANGLIA

• Was UP 0.3% Jan – Mar 2019 ( latest figures), with manufacturing and information / communication driving the growth

sources : various including BBC / BHETA and ONS