UK mortgage approvals increased for the first time in six months in February despite rising interest rates and high inflation weighing on the housing affordability.
Mortgage approvals for house purchases increased to 43,500 in February from 39,600 in January, the Bank of England reported Wednesday. This was the first monthly increase since August 2022. This also exceeded economists' forecast of 40,500.
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Business News
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.