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Oil Prices Back Weakens

Friday, April 3rd, 2015

Oil prices fell on Thursday, down from big gains in the previous session, on the prospects for an agreement in nuclear talks with Iran and the possibility of increased oil exports that helped put pressure on prices.

Major countries and Iran have held talks on Tehran's nuclear program for the second day after the expiry of the deadline at the end of March, the diplomats said that there is the possibility of a deal is still balanced between success and failure.

Brent oil and WTI stop attenuation for a three-day losing streak on Wednesday, rose about $ 2 or more after the data from the Energy Information Administration (EIA) showed a decrease in drilling rigs for oil is causing the drop in output of the United States last week for the first time since the end of December .

US oil price contract in May fell by 20 cents at $ 49.86 a barrel, after closing up $ 2.49, or 5.2%.

News and Review of European Economic Zone (UK)

Political uncertainty Shadowing Sterling Performance

Friday, April 3rd, 2015

Sterling traded higher against the US Dollar on Friday after the release of data Non-farm payrolls in March were worse than expected. However, the increase in cable remains constrained by political uncertainty ahead of elections in May.

Event televised debate on Thursday, which became part of the British national election campaign, failed to produce a clear winner with 4 poll shows 4 different winners. The survey is done in less than 6 weeks before the election May 7 shows David Cameron of the Conservative party and Ed Miliband Labour representing competing on track to win a majority.

Sterling is currently trading around $ 1.4915, or about 0.6% above the closing price on Thursday.

News and Economic Review Zone Asia (China)

Former Officer Arrested, Chinese premier Prove Commitment to Anti-corruption

Friday, April 3rd, 2015

For the first time in 30 years, the Chinese legal authorities managed to drag a high-profile figure to trial on charges of corruption. According to Chinese state-owned media, the lawsuit has been filed against Zhou Yongkang, former security chief and ex-member of the High Commission of the Communist Party.

Zhou reportedly charged under layered ie bribery, abuse of power and secret leakage state plan. The news was published by Xinhua News, citing a court statement. Previous news commencement of an investigation of Zhou had horrendous Chinese citizens because for the first time in decades, the government has never catch figures who have or are serving a strategic position. The last time the Chinese court jailed a key figure at the start of the 1980s, in which the figures are included in the 'Gang of Four' on trial for his involvement in the Cultural Revolution.

Just like in Indonesia, China is still struggling to suppress the action of corruption especially among bureaucrats. Premier Li Keqiang made sure he did not play in efforts to combat corruption. Uniquely exactly 1 month ago, Li Keqiang insisted he would not tolerate any act of corruption. In reading the Annual Performance Report of the Government, he warned that any offender will face serious legal threat, no matter at which level they launch the action. Arrest Zhou few hours ago as if to prove the statement of the prime minister.

News and Economic Review Zone Asia (China)

Although the Up, China PMI Services Sector Still Under Trend

Friday, April 3rd, 2015

One of the important economic indicators show the strengthening of the Chinese state is not too big in March 2015. Data Purchasing Managers' Index (PMI) services rose from 52.0 HSBC version (February) to 52.3 while indicating the progress in the non-manufacturing sector.

A reading above 50 indicates that the service sector to expand or grow in scale bulanan.Namun new demand in the services sector grew in the slowest pace since July, and the number of workers absorbed only increased slightly. According to HSBC, an outline of the service sector activity increased slowly and are under long-term trend.

In a statement, the Head of the Economic Team HSBC, Qu Hongbin said it is not quite satisfied with the increase in the amount of labor that went into the service sector. This sector has always been a pillar of the absorption of human resources for better growth than the manufacturing sector. Unfortunately over the last few years due to underperforming lethargy affected the property sector and the economic slowdown.

For information, version HSBC China Services PMI is calculated based on monthly data are entered via a questionnaire to the purchasing managers in more than 400 major companies. The official data of non-manufacturing Purchasing Managers' Index released Wednesday China fell to 53.7 in March from 53.9 recorded in February

News and Economic Review Zone Asia (South Korea)

South Korea Welcomes reached Resolution Nuclear Iran

Friday, April 3rd, 2015

Economy of South Korea (ROK) is being slowed down the last few years due to a decline in exports. Various methods are used by the government to revive the economy, particularly via extra loose monetary policy.

The South Korean government recognizes that economic actors are being pressured by the international dynamics. But authorities remain optimistic the situation will turn positive in a matter of months. Injection of positive sentiment came this week when six world powers led by the US reached an agreement with the government about Iran's nuclear resolution. South Korea believes that the deal will further lower the price of oil so that the domestic economy also rose.

Shortly after rumors 'peace' between the US and Iran, South Korean Finance Minister held a meeting with his staff directly. Choi Kyung-hwan pleased with the results of Iran's nuclear negotiations because it would result in a decrease in oil prices. Western bloc agreed to revoke the economic embargo on the condition that the Tehran to open up its nuclear development projects for investigation.

Yesterday in a press conference after a meeting of economic policy, Choi Kyung-hwan praised the progress of retail sales data and transaction activity in the residential sector and capital markets. According to him, the increase in consumer spending power is driven by supportive government policies and the downward trend in crude oil prices in recent months. Retail sales jumped 2.8% in February compared to January report, the figure of minus 2.8%. Market participants had pessimistic stagnant economy despite the central bank has cut interest rates to a record low of 1.75%. But with the news of Iran resolution, the optimism of the economy and investors are believed to increase.

Oil Rally Supported Slowing US Production

Thursday, April 2nd, 2015

Crude oil rallied after an increase in US crude inventories last week reported lower than expected and the Iranian nuclear negotiations that continued past the deadline. WTI crude oil for delivery in May shot nearly 6% shortly after the Energy Information Administration (EIA) reported that US crude oil inventories increased 4.8 million barrels during last week. This report is lower than the increase of 5.2 million barrels to research the American Petroleum Institute (API) which was released before the EIA data. Expectations for a decline in oil production push rally on Wednesday, although analysts warned the oil market is still haunted by oversupply, so that the oil outlook remains bearish.

Iran and six world powers resume talks in Lausanne, Switzerland. Negotiations with the target formulate a preliminary agreement for Iran's nuclear program as well as to lift sanctions on Iranian oil exports failed to be completed before the deadline Tuesday. The fall in the dollar exchange rate also sustains oil rally. Employment data and disappointing US manufacturing Fed will lower the chances of a hurry to raise interest rates, so the trade press Dollar.

WTI crude oil futures ended at the level of $ 49.55 per barrel, with daily highs and lows $ 50.45 $ 47.05 daily.

News and Economic Review Zone Asia (China)

Chinese authorities fox Deposit Guarantee Scheme

Thursday, April 2nd, 2015

The authority of the Chinese government announced a new deposit guarantee scheme risk margin pressing state-owned banking company.

The bank deposit scheme guarantees only 99.6% of depositors who perform above 500,000 yuan deposit equivalent $ 80.700 which will begin effective as of May 1, 2015.

These changes will reduce the attractiveness of deposits in a bank, as long as consumers believe that the deposits in state-owned banks will get a full guarantee of the government implicitly, but with the changes in all the bank guarantee scheme, the government reduced the attractiveness of these hypotheses.

News and Review of European Economic Zone (UK)

UK Construction Growth Slows in March

Thursday, April 2nd, 2015

Construction output in the UK fell more than economists forecast in the last month as the weakening of activity throughout the construction industry.

Purchasing managers index fell to 57.8 from 60.1 in February, reported by Markit Economics Ltd on Thursday. The median estimate in a Bloomberg survey meyerukan for readings down to 59.8. On Wednesday, Markit reported that manufacturing activity rose in March.

This report is the result of adding a series of diverse data this week, after the Office for National Statistics said that the UK economy expanded more than economists forecast in the fourth quarter while the coat sector contracted in January. The easing of the growth rate of construction because some companies menuda spending ahead of the elections on May 7, said Markit.

The construction sector has grown "at a faster pace" in 2015, although "has lost some strength since last year," said Tim Moore, senior economist at Markit. The companies "are very optimistic about their prospects."

News and Review of European Economic Zone (France)

Government Ask Two French SOEs Infrastructure for Partnering

Thursday, April 2nd, 2015

The French government ordered two state-owned companies that ELECTRICITE de France SA and Areva SA to immediately join in a partnership. This unification is necessary to save Areva of losses that have lasted long.

EDF and Areva claimed to be the more advanced if not cooperate in any nuclear reactor projects and international business. Economy Minister, Emmanuel macron, insisted he would only give me a few weeks for them to a partner.

According to him, the existing nuclear project plans that come but the government does not believe Areva able to do it alone. Areva's own plans to sell assets, reduce expenditure and capital expenditure as well as considering layoffs because of a loss up to 4.8 billion euros ($ 5.4 billion) in 2014. Nicks was marked loss phase that has lasted for the past 4 years.

Areva in difficulty completing a nuclear reactor construction contracts in Finland. In addition, there is an error in the policy strategy uranium mines so that it becomes useless investment. Inclusion is also diminishing as the nuclear industry turned sluggish after earthquake damaging the reactor Fukushima, Japan in 2011. In a media interview, macron declared partnership between EDF and Areva have to be fought, especially with regard to the unification of both capital

News and Review of European Economic Zone (Greece)

Greece has been Email List New Reform

Thursday, April 2nd, 2015

Greece has membeirkan list of recent reforms on the part of creditors in the hope to meet expectations for a more detailed list and can melt the assistance needed for avoiding default, the Greek government officials said on Wednesday. Greece have a week before running out of money, but the creditors eurozone and the International Monetary Fund has suspended aid to the company implementing reforms, with the stalled discussions on what policy should be taken. Greek Finance Ministry official said it has sent a new document in Brussels Group on Friday which is more specific and more, saying that the labor reform and pension sector is the main focus in the discussion. The Financial Times reported that documents totaling 26 pages has put the necessary funding Greece amounted to 19 billion euros.

Party of Greece and the eurozone promised to continue trying to disburse aid post progress in recent days, according to the Greek Finance Ministry officials. Two euro zone leaders agreed that the discussions progress, aware of the progress of Greece while insisting that it takes more effort to reach agreement assistance. To disburse aid, Greece must obtain the approval of the International Monetary Fund, the European Commission and the European Central Bank, which is now known as the Brussels Group. If the Prime Minister Alexis Tsipras can reach an agreement with the creditor group, it will pave the way for euro zone finance ministers to consider the disbursement of aid.

OPEC Oil Production Reach Record High Since October

Wednesday, April 1st, 2015

Organization of the Petroleum Exporting Countries (OPEC) is consistent in his message to maintain production levels, proven through a number of OPEC oil inventories jumped in March to its highest level since October. Iraqi exports are recovering from the effects of bad weather and Saudi Arabia are pumping oil near the highest level helps businesses OPEC maintain production activities in order to maintain its market share.

Based on data collected by Reuters, OPEC oil supply rose in March to 30.63 million barrels per day from the previous report was revised to 30.07 million barrels per day in February. OPEC oil production adding excess global oil supplies, even though there is a sign of increased demand as oil prices have dropped more than 50% of the price of mid last year.

Saudi Arabia led 11 other OPEC members to maintain a production target of 30 million barrels per day. OPEC will hold the next meeting in June and comments from officials signaled OPEC will not change his mind.

News and Economic Review Zone Asia (Japan)

Japan Tankan Business Survey Unchanged in First Quarter

Wednesday, April 1st, 2015

Tankan survey of the Bank of Japan showed large Japanese manufacturing companies still showed pessimism about government efforts to spur the economy. Based on a survey conducted in March, Tankan index, which assesses a large manufacturing company sentiment towards the current economic conditions, released by +12. The index number is the same as the survey last December, but lower than the estimate of economists surveyed by the Wall Street Journal at +14.

The survey was released in line with several previous indicator that shows the level of the low level of consumption and the weakening of inflationary pressures, while exports and industrial production signaled varied. If the Japanese economy failed to show an increase in the next few months, the pressure will be even greater for the Bank of Japan to increase monetary stimulus program.

The Tankan survey also showed large companies plan to reduce investment by 1.2% in the current fiscal year ending March 2016, from the previous fiscal year

News and Review of European Economic Zone

ECB Will the Review of Banking Liquidity Greece in Wednesday

Wednesday, April 1st, 2015

European Central Bank officials will consider extending assistance to the Greek banking sector in line with the level of savings in banks in Greece fell for 6 consecutive months. ECB Policy Council will hold a weekly review on Wednesday against the Emergency Liquidity Assistance, funds continue to avoid Greece from bankruptcy, according to two sources close. Withdrawal of funds slowed to 3 billion euros (3.2 billion dollars) in March, bringing outflows since last October reached 28 billion euros, according to other sources.

Michala Marcussen, head of global economics at Societe Generale SA, said in an interview with Bloomberg Television that Greece is stuck in a very tight situation. It is clear that the euro zone intends to put Greece to remain under pressure and continue negotiations, he added. With Greece began to run out of money, the ECB loans to prevent financial collapse. Prime Minister Alexis Tsipras is trying to persuade lenders in the euro zone to disburse aid in line despite his refusal to further tightening.

News and Review of European Economic Zone (UK)

Expanding Manufacturing Sector UK Back in March

Wednesday, April 1st, 2015

UK manufacturing growth accelerated to the fastest pace in eight months in March as rising demand from abroad.

Manufacturing purchasing managers' index in the UK rose to 54.4 from 54.1 in February, the result is higher than economists forecast, reported by Markit Economics Ltd. in London. The index has held above 50, which distinguishes between expansion and contraction, for the past two years.

The UK economy grew more than estimated in the fourth quarter as consumers and exporters lead England into the range of the longest growth since 2008. Growth has been largely supported by domestic demand and exports were just beginning to recover to overcome struggles in Europe, which is a trading partner Britain's biggest.

Rob Dobson, senior economist at Markit in London said that the manufacturing sector continues to bright start in 2015. Driving the growth is more inclined to be influenced by domestic consumers and a solid rise in latest export orders also provide advantages in the future.

Markit said that new orders in manufacturing rose to the fastest pace in eight months in March, while export orders rose to its strongest level since August. Goods to the consumer which is the majority of which boost factory output.

For the first quarter, factory output is likely to rise to around 0.6%, Dobson added.

News and Review of European Economic Zone

Eurozone Manufacturing Index Up in March

Wednesday, April 1st, 2015

The manufacturing sector in the Euro area expanded faster than reading last month, helped by growth in Spain and Italy and the strong performance of Germany, which is the country with the largest economy in Europe.

Markit Economics said that the manufacturing PMI rose to 52.2 from 51 in February. It is the highest level in 10 months and exceeded the previous month's reading of 51.9 level. Level 50 distinguishes between expansion and contraction.

Economic momentum in the euro area of ​​19 countries began to gather strength as the European Central Bank to buy bonds to generate growth and inflation, and the weakening of the euro has helped exporters. Markit report also highlights the differences in the block, with Germany which recorded the fastest growth in almost a year, while the French, Greek, and Austraia manufacturing sector looks to contract.

Chris Williamson, chief economist at Markit in London said that the euro zone economy to rise after a hit in the past year. It is still premature recovery and the overall recovery rate is still moderate.

In Germany, the manufacturing index rose to 52.8 in March from 51.1 in February, higher than the estimate of 52.4. Italian manufacturing rose to 53.3 from 51.9, exceed the estimated 52.1. French manufacturing index rose to 48.8 daru 47.6, still below the level 50. Meanwhile, the index of manufacturing Spain and Ireland respectively at the level of 54.3 and 56.8.

Oil Down Related Optimism abundance of World Oil Supply

Tuesday, March 31, 2015

US crude oil futures came under pressure on Tuesday as optimism of market participants on the outcome of negotiations between Iran and the international parties to remove the embargo and allow the export of Iranian oil back online. World oil supplies are abundant become negative catalyst for oil because the rate of demand is still below the number of supply.

So far the price of US crude oil futures fell -1.44% to $ 47.97 per barrel, after reaching the highest point at $ 48.73 intraday and daily lows at $ 47.80 per barrel.

With the deadline less than 24 hours, the United States, Britain, France, Germany, Russia and China are trying to reach a negotiated settlement to stop Iran has the capacity to build a nuclear bomb, in return for removing the international embargo.

Iran has built up a large stock of oil reserves since the embargoed, so it can quickly raise the export if the embargo be removed. Various sources estimate Iran has a reserve stock of at least 30 million barrels of oil in its tankers. In addition, Iran could increase oil production up 500000-700000 barrels per day in the next 6 months if the embargo was removed

News and Review of European Economic Zone

Euro Zone Consumer Price Decline Slows in March

Tuesday, March 31, 2015

The weakening of consumer prices in the Euro eased in March, provide a justification for the policy of the European Central Bank after they are pumping stimulus to ward off the threat of deflation.

The annual inflation rate in block 19 Eurozone countries rose to minus 0.1% from minus 0.3% in February, the statistics bureau reported by the European Union in Luxembourg on Tuesday. These results are reading for the fourth time in a row to below zero and in line with the median estimate in a Bloomberg survey. Meanwhile, in another report showed the unemployment rate fell to 11.3% in February from 11.4% in the previous month.

ECB promised to buy assets worth 1.1 trillion euros ($ 1.2 trillion), which includes government bonds until September 2016 to ward off deflation. ECB President Mario Draghi, who pushed the program meskipu opposition from Germany, has sinyalkan that he will get the victory and will bring inflation back in line with the central bank's mandate in the range of 2% in 2017.

"The inflation rate rose again at an annual rate, especially since oil prices began to rise at some point," said Marco Wagner, an economist at Commerzbank AG in Frankfirt. The latest step ECB may of course affect also, however small it may be. "

Bundesbank President Jens Weidmann, who menenatng the program, found kenaikn consumer prices was also due to a decrease in energy prices as well as the previous ECB action to stimulate the economy.

News and Review of European Economic Zone (UK)

UK Economy Grows 0.6% in Q4

Tuesday, March 31, 2015

The exporters and consumers led the British economy to the longest period of uninterrupted growth since 2008.

Household spending rose by 0.6% in the fourth quarter and exports jumped by 4.6%, it was the highest since 2013, the Office for National Statistics said in London today. British gross domestic product expanded by 0.6%, greater than previous reports that rose 0.5%, it is the increase for eight consecutive quarters.

At the moment the UK economy showed recovery in the future, the Bank of England said that they will keep interest rates at record lows in the middle of them also monitor the implications of the decline unprecedented in the inflation rate to a level of zero. The data provide an advantage for the coalition government led by the Conservative party, which is struggling to get the support of voters with less than six weeks to the election.

The fight while inflation will redah "lift real income and expenditure growth triggers strong," said Michael Saunders, economist at Citigroup, in his memoirs on March 27. It may strengthen the prospects for strong economic growth.

There were revised up for the service sector and production in the fourth quarter. in the third quarter, growth was revised down to 0.6% from 0.7%.

UK GDP expanded by 3% in the last three months of 2014 from a year ago, revised up from 2.7%. The economy grew by 2.8% in 2014 and is now 3.7% higher than the peak levels reached in early 2008.

News and Review of European Economic Zone (Germany)

German Unemployment Rate Down in March

Tuesday, March 31, 2015

German unemployment rate fell to a record low as the labor market continues to continue to support the country's position as Europe's economic powerhouse.

The unemployment rate in Germany fell to 6.4% in March from 6.5% in February, reported by the Federal Labor Agency in Nuremberg on Tuesday. Economists predict that the level still will not change, according to the median estimate of 32 economists in a Bloomberg survey. The number of people out of work fell to a seasonally by 15,000 to 2.8 million.

Level of confidence of businessmen and investors in Germany soared because of declining energy prices give more money to the consumers and the weakening of the euro will support the export value. Output in Germany is likely to rise "sharply" in the first quarter, the Bundesbank said in a report in March.

Heinrich Bayer, an economist at Deutsche Postbank AG in Born said that no matter how you look at it, the momentum for Germany is positive for now. For the labor market, the rate during the winter has been very solid, and further improvements will take place March month to add a positive image of the country.

News and Economic Review Zone Asia (South Korea)

Anticipation of US policy, South korea Rely on Domestic Economy

Tuesday, March 31, 2015

All developed and developing countries certainly affected by monetary tightening United States (US). The rise in interest rates could potentially threaten economic growth exporting countries, South Korea is no exception.

However, the land of ginseng is believed to not be dropped because domestic consumption could rise in the next few months. According to the Goldman Sachs analyst told Dow Jones Newswires, the number of domestic demand will increase in 2015, although the rate of exports are likely to remain stagnant. Cheapness world oil prices a major consideration behind the potential for strengthening the purchasing power of consumers. While at the same time, market conditions returned to normal occupancy can play a major role in economic growth fueled demand for durable goods.

Goldman projections released shortly after South Korea's industrial production rose in February. Therefore, any negative effect of rising interest rates Federal Reserve Bank is expected to be minimized thanks to fiscal and macroeconomic conditions are strong. According to the latest data, the result of increased production due to high spending amid the celebration of the Chinese New Year and the increase in interest-based infrastructure investments. Figures production factories in Korea rose 2.6% and higher than the revised January 2015, the minus of 3.8%

Oil Weakens, But Record Strengthening Weekly

Monday, March 30th, 2015

Crude oil fell down on Friday, noting the first decline in six days. Oil prices rose sharply in the previous two days due to the turmoil in Yemen at risk of oil transportation lines in the region. Although weakened, oil remains recorded reinforcement in two consecutive weeks.

Saudi Arabia and its allies continue to attack the Houthi rebels in Yemen on Friday. Yemeni Foreign Minister, Riyadh Yaseen, said military operations will likely end up in the next few days, and he does not expect will last a long time.

Meanwhile the company Baker Hughes reported that the number of rigs operating in the US back down by 12 this week, be 813. The decline is much lower than the previous two weeks were recorded a decrease of 41 and 56 units, giving the signal stabilizes oil drilling activity. Decrease the number of rigs in operation has occurred in the 16th straight week, which is a record for the longest, and the number of rigs in operation today is at its lowest level in 2011 sehak.

Oil on Friday's trading to close at $ 48.43 a barrel, the highest level of $ 51.38, and the lowest $ 48.21

News and Economic Review Zone Asia (Japan)

Japan Industrial Production Down in February

Monday, March 30th, 2015

Ministry of Economy, Trade and Industry of Japan reported industrial production fell 3.4% in February. The decline was worse than expected drop of 1.8% by economists surveyed by Reuters. The decline is also the biggest since June 2014.

The Ministry is also projected in March production manufacturing companies will drop 2.0%, better than the 3.2% decline in the previous projection. As for the month of April is projected to rise 3.6%.

Managing director of JP Morgan Securities, Jesper Koll, on CNBC saying the fiscal year began on 1 April made Japanese companies are trying to spend finished goods inventory by lowering the amount of production, and basically the company will increase production at the beginning of the fiscal year.

News and Review of European Economic Zone (Germany)

German Inflation Rate Up 0.3% in March

Monday, March 30th, 2015

Consumer prices in Germany rose broadly in line with market expectations in March, easing concerns over the risk of deflation in the euro area, government data showed on Monday.

In a report, the German statistics bureau said that consumer prices rose at an annual rate of 0.3% in the month, reaching market forecasts and higher than the reading of 0.1% in February.

At the monthly level, consumer prices rose by 0.5% Germany in March, is also equal expectations, after rising by 0.9% in the previous month.

The currency pair EUR / USD is trading the range of $ 1.0844 from $ 1.0837 on the eve of the release of the data, while the EUR / GBP the range of 0.7329 from 0.7330 earlier in

News and Review of European Economic Zone (UK)

BoE Will Perform Stress Test Against 7 Large Banks

Monday, March 30th, 2015

Largest banks in the UK must be able to withstand the blows of severe global economic slowdown and deteriorating asset trading, under the latest stress test of the Bank of England.

Hypothesis stress tests will show the Chinese economy and the euro zone to contract, commodity prices slumped, while banks have to face default some major trading partners, according to the Bank of England on Monday.

To-7 major banks based in the UK should be able to maintain a core tier one ratio of 4.5% to be able to pass the exam. They also must maintain a leverage ratio above 3%. The results of the stress test is scheduled to be published in December. Banks to be tested is the Royal Bank of Scotland Group PLC, Barclays PLC, HSBC Holdings PLC, Lloyds Banking Group PLC, Nationwide Building Society PLC, Santander, and Standard Chartered PLC.

"The test of this year has a different focus, but equally important," says BoE Governor Mark Carney. He added that the checking account will also help show the vulnerable point in the system

News and Review of European Economic Zone (UK)

Number of UK Mortgage Approval Up in February

Monday, March 30th, 2015

The number of mortgage approvals for new homes in the UK for February rose to its highest level in six months, it shows that the housing market in the UK might be ready to rally back after subsided in late 2014.

British banks 61.760 approve mortgages for the purchase of the property during the month of February, said the Bank of England on Monday, compared with 60.707 in January. The number of overall value of mortgage loans also rose rose to 1.7 billion pounds ($ 2.6 billion) from 1.6 billion pounds.

The data is the latest sign that property prices in the UK can immediately to begin to accelerate. Although figures released last week by Nationwide showed that the housing market is still weak in March, another indication for a mortgage loan that showed interest in buying the house back up. Prices rose sharply during the first half of 2014 followed by a slowdown until the end of the year.