UK house prices declined the most since 2009 as the impact of the coronavirus pandemic filtered through the property market in May, data from the Nationwide Building Society showed Tuesday.
Elsewhere, data from the Bank of England showed that households repaid the highest amount of consumer credit on record in April and mortgage approvals plunged to a historic low as government restrictions to curb the spread of coronavirus, or Covid-19, dampened housing activity.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.