MORTGAGE LENDING The British Bankers Association said that the number of mortgages approved in July dropped to 33,698, 2.5% less than June.

EUROZONE INDUSTRIAL ORDERS Official figures showed that industrial orders in the eurozone rose month-on-month by 2.5% in June for a 22.6% annual gain.

BRITISH MANUFACTURING Production rose in July for the fourteenth consecutive month, adding to signs that the economic revival remains on track. The Markit/CIPS index slipped to 57.3 in July from 57.6 in June,well above the 50 mark that divides contraction from expansion. Manufacturers added to their workforce for a fourth consecutive month,while companies reported buoyant orders.

UK HOUSE PRICES The price of a home dropped by 0.5% in July after stalling in June, figures from Nationwide showed. This was the first decline in price since February, taking the value of an average home to £169,347.

UK CONSUMER CONFIDENCE The GFK/NOP gauge of confidence fell for the fifth consecutive month in July. The index dropped to -22 down from -19 in June, the lowest reading since last August.

PRODUCTIVITY Official figures showed that output per worker rose by 1.3% in the first quarter, compared with a year ago. The manufacuring sector showed a rise of 7.5% in output per job.

INFLATION Figures from the British Retail Consortium showed that shop price inflation fell to 1.5% in June from 1.8% in May. Food prices rose by 1.7% year on year, down from the 2.2% annual increase in May.

UK SERVICES Britains service sector grew at the slowest pace in 10 months in June. The Markit/CIPS services purchasing managers headline activity index fell to 54.4 in June from 55.4 in May, but remained above the 50 figure that seperates expansion from contraction.