Gavekal Capital: No Need for 'Mayday' in U.K. Economic Data

Thursday, May 1, 2014

No Need for 'Mayday' in U.K. Economic Data

Today's economic data releases out of the U.K. were largely positive.  While mortgage approvals have fallen back a bit from January highs, many see this as a welcome sign that the housing market is not overheating:

image

Meanwhile, house prices rose the most on a year-over-year basis since 2007:

image

And the manufacturing PMI rose more than expected to 57.3 from 55.3:

image