CONSTRUCTION INDEX POOR, BUT PICKING UP - Purchasing managers' indices are examined a lot more closely these days as they give a picture of how much stuff is being purchased in industry. The latest index from Ulster Bank could roughly be summarised as: it's still getting worse but more slowly.
Ulster Bank economist Simon Barry says overall construction activity is still shrinking, but the survey has picked up over the last couple of months.
He says the low point for the sector seems to have been in the first quarter of the year. Though the picture remains poor, things have stopped getting worse.
Mr Barry said one question in the survey asked people how they saw activity in their firm in 12 months' time. He said there were now expectations that activity may edge a little higher in 12 months' time, but the economist said he would be cautious in interpreting that result.
***
CHAWKE GROUP JOINS NEWCASTLE RACE - Charlie Chawke the publican is putting together a consortium to try and buy the relegated Newcastle United from current owner Mike Ashley.
Mark Douglas from Newcastle's Journal newspaper said the initial asking price was £100m, but any new owner may have to find a lot more money to transform the club - for players and the appointment of Alan Shearer as manager.
He said the fact that Mr Chawke had gone public had been welcomed by many on Tyneside, as many Newcastle supporters felt there had been no communication from the club's owners about the sale process.
***
CURRENCIES AND MARKETS - The Nikkei closed at 9,050, down 2.5%. The euro is worth 86.38p sterling and $1.3920. Oil prices are hovering at around $60 a barrel.
