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June 2013

 

1. Economic Indicators:

·         UK / London

·         US / NY

·         Euro Zone

 

2. New Investments:

·         US Investments into UK

·         UK Investments into US

 

 3. Trade Shows:

·         UK

·         US

1. ECONOMIC INDICATORS

UK

 

  • Gross Domestic Product (GDP) in volume terms was estimated to have increased by 0.3% in Q1 2013, unrevised from the previously published estimate.
  • Consumer Price Index (CPI) annual inflation was 2.4% in April, down from 2.8% in March.
  • The employment rate for January to March 2013 was 71.4%, down 0.2% from October to December 2012. The unemployment rate for January to March 2013 was 7.8%, up 0.1% from October to December 2012.
  • Between January to March 2013 total pay rose by 0.4% and regular pay rose by 0.8%.
  • Service sector output increased by 1.6% in March 2013 compared with March 2012.
  • Production output fell by 1.4% in March 2013, compared with March 2012.
  • Manufacturing output fell by 1.4% in March 2013, compared with March 2012.
  • In the year to April 2013 the output price index for home sales of manufactured products rose 1.1%. In the same period the total input price index fell by 0.1%.
  • The total volume of construction output fell by 5.5% comparing February 2013 with January 2013, in constant prices, not seasonally adjusted.
  • In April 2013 the quantity of goods bought (volume) in the retail sector was estimated to have increased by 0.5% when compared with April 2012. Over the same period the amount spent (value) in the retail sector increased by 1.3%. The price of goods sold in the retail sector (as measured by the implied price deflator) increased by 0.6%. 
  • In Q4, 2012, Business investment in seasonally adjusted terms decreased by 0.8% when compared with the previous quarter to £30.9 billion.      
  • Public Sector Net Borrowing in April 2013 was £6.3 billion, £25.4 billion lower than in April 2012.
  • The UK’s deficit on seasonally adjusted trade in goods and services was £3.1 billion in March 2013. The deficit on trade in goods was £9.1 billion. The surplus on trade in services was estimated at £5.9 billion.
  • There was a current account deficit of £14 billion in Q4 2012, down from a revised deficit of £15 billion (originally published as a deficit of £12.8 billion) in the previous quarter. In 2012, the UK’s current account deficit was £57.7 billion.     
  • The estimated number of visits abroad by UK residents in March 2013 was 3.5 million, 4% lower than in March 2012.  During the period January to March 2013, UK residents' visits abroad were down by 1% compared with the corresponding period a year earlier, but they spent 1% more on these visits.   In the 12 months to March 2013 the number of visits abroad by UK residents was 1% lower than a year earlier, but expenditure on these visits grew by 3%.
  • The number of visits to the UK by overseas residents in March 2013 was 2.2 million, 3% lower than the number in March 2012. During the period January to March 2013, overseas residents made 2% more visits to the UK than in the corresponding period a year earlier and they spent 11% more on these visits.  In the 12 months to March 2013 the number of visits to the UK rose 1% from a year earlier and earnings grew by 5%.

 

For previously released UK economic indicators visit National Statistics http://www.ons.gov.uk/ons/index.html

LONDON

  • London’s annual growth in output increased to 0.7% in Q4 2012 from an upwardly revised 0.2% in Q32012.
  • London’s annual employment growth was 3.1% in Q4 2012, the same rate as the upwardly revised figure for Q3 2012.
  • Annual house price inflation in London was 3.8% in Q1 2013, up from -1.1% in Q4 2012.
  • The percentage of the resident working age population who are unemployed and claiming Jobseekers’ Allowance in London was 3.8% in April 2013. There were 216,800 seasonally adjusted unemployment claimants in London in April 2013 compared to a downwardly revised 218,200 in March 2013.
  • The Purchasing Managers’ Index (PMI) of business activity recorded 53.4 in April 2013 compared to 53.8 in March 2013.
  • The PMI for new orders for London firms recorded 54.8 in April 2013 compared to 55.8 in March 2013.
  • The PMI for the level of employment in London firms was 49.9 in April 2013 compared to 50 in March 2013.
  • The RICS survey shows a positive net balance of 28 for London house prices over the three months to April 2013.
  • The net house price expectations balance in London was 37 in April 2013.
  • For Greater London the consumer confidence score decreased  to -24 in April 2013 from -21 in March 2013.
  • In the most recent 28 day period, (from 3 March 2013 to 31 March 2013) London’s underground and buses had 276.9 million passenger journeys; 182.6 million by bus and 94.3 million by Underground.
  •  The moving average annual rate of growth in passenger journeys decreased to 2% from an upwardly revised 2.3% in the  previous period.

 

For more information please visit:

http://www.london.gov.uk/priorities/business-economy/publications/londons-economy-today

 

US  

 

  • Real GDP increased at an annual rate of 2.4% in Q1 2013. Corporate profits decreased $43.8 billion in Q1..
  • In April 2013, Personal income decreased $5.6 billion, or less than 0.1%, disposable personal income (DPI) decreased $16.1 billion, or 0.1% and Personal consumption expenditures (PCE) decreased $20.5 billion, or 0.2%.
  • The US current account deficit decreased to $110.4 billion, or 2.8% of GDP in Q4 2012, from $112.4 billion or 2.8% of GDP in Q3 2012. For the full year 2012, the current account deficit was $475 billion or 3% of GDP, up from $465.9 billion or 3.1% of GDP in 2011.
  • The March 2013 international trade deficit decreased 11% from February 2013, to $38.8 billion. Exports fell 0.9%, to $184.3 billion, and imports declined 2.8%, to $222.91 billion.
  • Real spending on travel and tourism turned up in Q4 2012, increasing at an annual rate of 1.8% after decreasing 0.7% (revised) in Q3. For the year, real spending on travel and tourism increased 2.7% in 2012 after increasing 3.2% in 2011.

For previously released US economic indicators visit US Bureau of Economic Analysis (BEA) http://www.bea.gov/index.htm

 NY

  • Private employment rose by 16,200 in March 2013 after a decrease of 16,100 jobs in February.
  • The unemployment rate fell from 9.1% in February to 8.9% in March.  
  • The Manhattan hotel occupancy rate in March 2013 was 88.5%, up from 86.2% in March 2012.
  • The Manhattan Class A office vacancy rate was 9.4% in April 2013, while the average asking rent was $68 PSF.
  • Passengers in NYC area airports totaled 7.3 million in February 2013, down 0.7% from February 2012.
  • In April 2013, the Manhattan Class A direct vacancy rate rose to 9.4% while the average rental rate fell $1 PSF to $68 PSF.
  • In the same month, the Downtown Class A direct vacancy rate rose to 12.4% and the rental rate rose to $52 PSF.
  • The Manhattan Class A sublease vacancy rate rose to 2.2% between March and April.
  • For the twelve months ending March 2013: Building projects (including new, additions and alterations) that started construction in NYC fell by 1.4% and infrastructure (non-building) project starts rose by 11.4% from the twelve months ending March 2012.
  • Planned space for building project starts rose by 39.9% from the same period in 2012.
  • 2,468 residential building project starts on 17,264 units of housing began construction during the period, increases from the previous year of 0.2% and 57.4%, respectively.
  • Total Broadway attendance was approximately 1 million during the four weeks ending April 28, 2013, down 13.9% from the same period last year.
  • Broadway revenue during this period was about $98.4 million, down 8.4% from last year.
  • In February 2013, 7.3 million passengers flew into and out of the region's airports, a decrease of 0.7% from February 2012.
  • Domestic air carriers accounted for 4.9 million passengers, a 1.2% decrease from February 2012.
  • 2.4  million passengers traveled with international air carriers in February 2013, a 0.3% increase from February 2012.
  • In March 2013, the average daily hotel room rate was $265, an 8.1 % increase from March 2012.
  • Hotel occupancy was 88.5% in March 2013, up from 86.2% in March 2012.
  • The average daily hotel room rate increased the most in the lowest-price hotels (charging under $175 per night).  
  • Total ridership on MTA subways, trains and buses in March 2013 was 225.1 million, a decrease of 4% from March 2012.
  • Subway ridership in March 2013 was 142.9 million, a decrease of 3.1% from March 2012.

 

For more information please visit: http://www.nycedc.com/resources/economic-data

Euro Zone

  • GDP fell by 0.2% in the euro area during Q1 2013, compared  with the previous quarter. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 1% in the euro area.
  • The euro area seasonally-adjusted unemployment rate was 12.1% in March 2013, up from 12% in February.
  • Euro area annual inflation was 1.2% in April 2013, , down from 1.7% in March.
  • In March 2013 compared with February 2013, seasonally adjusted industrial production grew by 1% in the euro area. In March 2013 compared with March 2012, industrial production decreased by 1.7% in the euro area.
  •  In March 2013, compared with February 2013, the industrial producer price index fell by 0.2% in the euro area. In March 2013 compared with March 2012, industrial producer prices gained 0.7% in the euro area .
  • In March 2013 compared with February 2013, the volume of retail trade fell by 0.1% in the euro area. In March 2013, compared with March 2012, the retail sales index dropped by 2.4% in the euro.
  • In Q4 2012, the business investment rate was 19.7% in the euro area, compared with 20% in the third quarter of 2012.
  • The first estimate for the euro area trade in goods balance with the rest of the world in March 2013 gave a 22.9 billion euro surplus, compared with +6.9 billion in March 2012.

For more information please visit: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home/

2. NEW INVESTMENTS

US Investments into the UK

ResHydro to launch operations in the UK

US tidal power company ResHydro has announced plans to establish operations in Scotland. ResHydro are the first American renewable energy inward investment in Scotland and will work in partnership with the University of Strathclyde. Establishing a base in Scotland will allow the company to develop its hydrokinetic energy generation device that requires further research and development to take it closer to commercialisation. A clean technology firm, ResHydro uses cutting-edge industrial science to harness the power of water currents to produce electricity. The company will be based in Glasgow.

RestHydro,135 West 26th Street, 2nd Floor, New York, NY, 10001. Email: info@reshydro.com
Samuel A. Lewinter, President, Email: slewinter@reshydro.com, Tel: 212 924 7200 Website: http://reshydro.com/

Znode opens UK HQ office

Znode, a leading provider of ecommerce software, announced it has opened its UK headquarters office to drive sales, fuel growth and broaden its technology base. This strategic expansion is important for meeting additional demand for NET ecommerce solutions for manufacturers, retailers and distributors throughout Europe. Znode is expanding  internationally by opening its first satellite office in Reading, Berkshire, which will propel their growth in the UK and beyond. Znode's UK location will serve as their flagship office.

Znode Inc — US Headquarters, 8415 Pulsar Place, Suite 200, Columbus, OH 43240  Tel: 614 468 7900  Website: www.znode.com

Znode UK, One Reading Central, Forbury Rd, Reading, Berkshire RG1 3YL. Tel: +44 01183 583550

Aternity opens UK 0ffice

Aternity Inc., the industry’s leader in providing ubiquitous end user experience monitoring solutions, announced that it has opened a European office located in the United Kingdom to support its EMEA (Europe, Middle East and Africa) operations. Aternity’s new European office is managed by Aternity’s EMEA Director, Carl Helling, Helling will work to further expand the company’s EMEA reach with local teams focused on sales, channel management and client services.

Aternity, Inc. 200 Friberg Parkway, Suite 1004, Westborough, MA 01581. Tel: 508 475 0414 Fax: 508 475 0419 Website:www.aternity.com.

Aternity UK, Ltd. Standard House, Weyside Park, Catteshall Lane, Godalming, Surrey GU7 1XE. Tel: +44 333 370 6570

PRA International expands in the UK

North Carolina-based clinical research organisation PRA International has announced the expansion of operations in the United Kingdom to accommodate staff growth and strong client demand for its Phase IIa-IIIb service offerings.

PRA international, 4130 Parklake Ave,  Raleigh, NC 27612. Tel: 919 786 8200 Website: www.prainternational.com

PRA International, Pacific House, Imperial Way, Reading, Berkshire, 0TD.Tel: +44 (0)118 918 1000

UK Investments into the US

Ascot Underwriting opens new US office

Lloyd's insurer Ascot Underwriting has established a new office at One Bryant Park in New York which will be led by Paul Amrose. The new office will help Ascot develop new business opportunities as well as further enhance its ability to support clients and producing brokers to the highest standards.

Ascot Underwriting Ltd. Plantation Place, 30 Fenchurch Street, London EC3M 3BD. Tel: +44 (0)20 7743 9600 Fax: +44 (0)20 7743 9601, Email: enquiries@ascotuw.com Website:  http://www.ascotuw.com/

Ascot Underwriting Inc. 5847 San Felipe, Suite 625,  Houston TX 77057.  Tel: 713 355 4333 Email:  houston@ascotuw.com

Ascot Underwriting, 311 South Wacker, Suite 3325, Chicago IL 60606. Tel: 312 284 8824 Fax: 312 284 8831 Email: chicago@ascotuw.com

BioOutsource opens new facility in Cambridge, Massachusetts

BioOutsource, a contract testing services provider to the biopharmaceutical industry, has opened a new facility in Cambridge, Massachusetts. The facility marks the company's first North American offices, which were opened in response to increasing demand for the company's bioanalytical and biosafety services, particularly in the field of biologic and biosimilar characterisation. The office will be located at the Cambridge Innovation Center on Kendall Square, which is adjacent to the Massachusetts Institute of Technology campus and home to a number of growing life sciences and venture capital firms.

Global Headquarters, BioOutsource Ltd., 1 Technology Terrace, Todd Campus, West of Scotland Science Park, Glasgow, G20 0XA. Tel: +44 (0)141 946 4222 Email: information@biooutsource.com Website: www.biosource.com

BioOutsource USA, Cambridge Innovation Center, 1 Broadway, 14th Floor, Cambridge, MA, 02141.

3. TRADE SHOWS

UK

 

September 10-13, 2013 – DSEI 2013 - Excel, London
Website: http://www.dsei.co.uk/
“DSEI is the largest fully integrated defence and security show in the world, featuring Air, Naval, Land and Security show content. Based in ExCeL, London every two years, the event provides unrivalled access to key markets across the globe.”


Contact: Richard Stanbridge, Senior Commercial Specialist/Head of Industries Team
Tel: +44 (0)20 7894 0437 Email: Richard.Stanbridge@trade.gov

 

For more information please visit:  http://export.gov/unitedkingdom/events/uktradeevents/index.asp

 

US

June 8-12, 2013 - International Pow Wow - Las Vegas, NV
Website: http://www.ustravel.org/events/international-pow-wow
International Pow Wow, organized by U.S. Travel Association, is the travel industry's premier international marketplace and is the largest generator of Visit USA travel.

Contact: Stewart Gough, Commercial Specialist, Tel: +44 (0)20 7894 0459 Email: Stewart.Gough@trade.gov

June 8-14, 2013 - InfoComm International 2013, Orlando, FL
Website: http://www.infocommshow.org/
The largest professional audiovisual communications show in the world with 34,000 AV professionals and 925+ exhibitors from over 90 countries.

Contact: Claudia Colombo, Commercial Specialist Tel: +44 (0)20 7894 0443 Email: Claudia.Colombo@trade.gov

June 20-22, 2013 - International Franchise Expo - New York, NY
Website: http://www.ifeinfo.com/
“Join thousands of entrepreneurs and business owners at the International Franchise Expo, the largest franchise expo in the country. Meet hundreds of proven franchise opportunities. Every industry. Every investment level. Full-time and part-time.”

Contact: Chrystal Denys, Commercial Assistant Tel: +44 (0)20 7894 0432 Email: Chrystal.Denys@trade.gov

June 30-July 2, 2013 - Fancy Food Show -  New York, NY
Website: http://www.specialtyfood.com/fancy-food-show/
“North America’s Largest Specialty Food & Beverage Event will be in New York City from June 30 - July 2, 2013. Discover 180,000 products including confections, cheese, coffee, snacks, spices, ethnic, natural, organic and more. Connect with 2,400 exhibitors from 80 countries & regions.“

Contact: Chrystal Denys, Commercial Assistant Tel: +44 (0)20 7894 0432 Email: Chrystal.Denys@trade.gov

For more information please visit:  http://export.gov/unitedkingdom/events/ustradeevents/index.asp