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Ministers told " its been a good year for the economy"

by isleofman.com 25th August 2006
The Council of Ministers has been told that the past year has been
"a particularly good one for engineering and general manufacturing".
And average house prices are currently down, but are likely to rise.

The Quarterly Statistical Review says provisional estimates put growth over the year, in cash terms, at 11% but it will be more like five to five and a half percent when the effects of inflation are factored it. That gives a growth in line with central planning assumptions, says the Government's economics unit.
Inflation has been over 6% in the year but currently stands below 3%. Global fuel price rises have been the main driver.

The report notes a modest fall in average house prices for the year to June. The figure is now ?233,615 compared to ?233,964 last year but with the warning that that is a provisional figure and the final one is likely to be higher.
However, at the very least, it's a slow down, compared with a rise the year before of twenty thousand pounds. That swing from the seller to the buyer is reflected in house sales which continue to fall, from over 2,200 three years ago to 1,253.

The population of the Island, from the recent census, is still being confirmed but a rough estimate suggests just below eighty thousand. However its pointed out that visiting workers were, this time, required to fill in questionnaires and that will have a bearing.
Posted by isleofman.com
Friday 25th, August 2006 10:52pm.

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