European inflation

Euro area annual inflation is expected to be 2.4% in June 2012. It was also 2.4% in May.

Road lengths

Yeah, I know this isn’t my usual kind of thing, but I’m glad that someone is counting all these roads. And I’ve just bought a new motorbike.

The total road length in Great Britain in 2011 was estimated to be 245.0 thousand miles, an increase of 2.1 thousand miles (0.9 per cent) over 10 years.
Minor roads made up 87 per cent of total road length, with motorways and ‘A’ roads accounting for 1 per cent and 12 per cent respectively.
Despite accounting for only 13 per cent of road length in 2011, major roads (motorways and ‘A’ roads) accounted for 65 per cent of road traffic.

The UK’s current account deficit was £11.2 billion in the first quarter of 2012, up from a revised deficit of £7.2 billion in the previous quarter.
The trade deficit widened to £7.8 billion in the first quarter of 2012, up from £5.6 billion the previous quarter.

UK gross domestic product (GDP) in volume terms decreased by 0.3 per cent, unrevised from the previously estimated 0.3 per cent decline

The volume of expenditure on goods and services (seasonally adjusted) fell by 0.1 per cent in Q1 2012, following growth of 0.5 per cent in Q4 2011.
In current prices, seasonally adjusted household expenditure increased by 0.5 per cent.

58% of retailers reported that sales volumes were up on a year ago, and 17% stated that sales had fallen. The resulting rounded balance of +42% was stronger than retailers had expected (+25%) and was the fastest growth reported since December 2010 (+56%)
Firms also reported better than expected growth in orders with the survey balance once again the highest since December 2010
Retailers expect strong increases in both sales and order volumes in the year to July
Retailers still considered the volume of sales to be below average for the time of year
Most retail sub-sectors reported an improvement in year-on-year sales growth

92% of firms think that hosting the Olympics and Paralympics will help promote London internationally
76% think they will boost tourism
63% say they are looking forward to the Games
A quarter expect their businesses to benefit directly from the events
64% expect at least the same level of customer and business activity during the Games
76% think the Games will have a positive impact on regeneration