Tuesday, February 8, 2011
Slip slidin’ away
Britainâ€™s benchmark stock index pulled back slightly from a 3-week high on Tuesday after data showed that while UK retail sales rebounded in January, house prices continued to drop.....The Royal Institution of Chartered Surveyors said a balance of 7% of surveyors reported a decline in new buyer enquiries last month, amid concerns that the Bank of England will hike interest rates in the near future. Analysts at ING noted that the data also showed that house prices fell at a slower pace. However, they noted that, â€˜We remain concerned that with employment falling again, real wages contracting significantly, benefits being cut and taxes going up, real household disposable income will be negative this year.