Good for houses,bad for cars

Trying to focus on the economy now and this morning has seen two primary indicators of its state.

Firstly the sale of New Cars continues to fall.Figures for May show a 24 per cent decrease year on year and a thirteenth month of consecutive falls.

This despite the government's launching of the scrappage allowance which came in half way through the month.

Meanwhile on the upside the Halifax is reporting a rise in house prices in the last month.May's figures showed an increase in 2.6 per cent over April with the industry seemingly agreeing that prices may well have bottomed out now following three consecutive monthly falls.