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Mortgage approvals: The Bank of England said that there were 43,201 mortgage approvals in April, up from 40,038 in March and better than analysts’ forecasts of 41,000 — although well below last year’s level of 55,280, when house prices were falling rapidly.
Construction activity: The CIPS/Markit purchasing managers’ index of construction activity rose to 45.9 in May, from 38.1 in April, and up from a record low of 27.8 in February. It is close to the 50 mark that indicates that the sector is growing rather than contracting.
Consumer confidence: The Nationwide gauge of consumer confidence rose to 53 in April, from 51 in March. About 28 per cent of people think that