A new year, and indeed a new decade has dawned. Reflecting on 2019, what seemed to have got lost in the noise and political hysteria was the fact that the UK economy actually held up remarkably well.
For those with an eye on the economy, 'GDP day' is always one to mark off in the calendar each month. And it's been a hot topic for the UK in 2019, with the latest update showing zero growth for the period from August to October.
Ahead of the IMF’s world economic outlook last month, new managing director Kristalina Georgieva described the global economy as being in a ‘synchronised slowdown’, and the institution has subsequently trimmed growth forecasts for 2020.
Last week we took stock of the labour market, with the latest Office for National Statistics (ONS) data showing that the tide may be beginning to turn on Britain's so-called 'jobs miracle'. Unemployment ticked up to 3.9 per cent for June to August (an increase of 0.1 per cent), with the number of people in work falling by 56,000.
In recent months, it’s been interesting to observe the reception to Greta Thunberg, the 16-year old climate change activist who has been afforded some high-profile forums. The impassioned viewpoints she has shared have earned her legions of fans, albeit no shortage of detractors too. In particular, a speech at the United Nations climate change summit stirred fractious debate.
Dismal productivity growth has been one of the constants which has undermined the UK economy over the past decade. But, according to recent analysis by the TUC, it isn't caused by a lack of time spent at the office. On the contrary, ours is a labour force which is significantly overworked.
In recent years, we’ve grown accustomed to seeing the UK budget deficit beat expectations each month. Indeed, as recently as January, there was actually a surplus (ie: the level of tax revenue received by the Exchequer exceeded the total spent by the Government on everyday costs such as welfare and public services) – the largest on record for the month of January.
In the aftermath of the financial crisis back in 2008/09, the Bank of England (BoE) had considerable headroom in terms of monetary policy, and - rightly - it made full use of it.
On a daily basis, diligent readers of financial publications consume a wide range of economic data, which act as key performance indicators regarding the state of the UK economy.