Current stats macro UK

Question 1

What was the growth rate in 2022 for the UK?

Answer 1

4.1%

Question 2

What is the 2023 UK growth forecast?

Answer 2

-0.2%

Question 3

UK gdp per capita

Answer 3

£33k

Question 4

UK GDP and main sector, and percentage of sector

Answer 4

£2.4 trillion, 79% services

Question 5

UK Output gap 2023 projection

Answer 5

-1.6% OBR

Question 6

UK unemployment rate

Answer 6

3.9% Q1 2023

Question 7

UK employment rate

Answer 7

76%

Question 8

UK economic inactivity rate

Answer 8

21%

Question 9

Youth unemployment now and what was it during COVID

Answer 9

11% now vs 14.5% during COVID

Question 10

UK wage growth and a reason for this

Answer 10

6.6% trade unions

Question 11

2 factors that have caused low consumer confidence

Answer 11

High inflation

Forecast recession

Question 12

UK inflation rate CPI

Answer 12

10.1%

Question 13

Eurozone inflation

Answer 13

6.9%

Question 14

Core inflation rate - rising price of consumer goods

Answer 14

6.2%

Question 15

Food price inflation

Answer 15

19%

Question 16

Current account deficit UK

Answer 16

3.3% GDP

Question 17

Name 2 factors that drive the UK’s current account deficit

Answer 17

Factors that make exports less competitive:
- Low productivity
- Weak investment

Question 18

How much is UK productivity behind the rest of the G7

Answer 18

20%

Question 19

Uk productivity now compared to pre-financial crisis

Answer 19

25% below

Question 20

UK ER to dollar

Answer 20

Low - £1 is $1.24

Question 21

Uk minimum wage and how this compares to inflation

Answer 21

£10.42 per hour, risen more than inflation

Question 22

Us and Eurozone growth and what this means for UK

Answer 22

Slow, means reduced export demand

Question 23

National debt as a percentage of GDP

Answer 23

100% GDP

Question 24

Highest budget deficit since WW2 as a percentage of GDP, and why

Answer 24

COVID 14.5% , furlough spend

Question 25

Bond yields

Answer 25

3.46% - more expensive debt

Question 26

Forecast UK government spending on servicing debt interest

Answer 26

Over 100bn - more than any public service, opportunity cost

Question 27

Bank of england base rate

Answer 27

4.5%

Question 28

What income do you pay 45% income tax over?

Answer 28

Over £125140

Question 29

When have tax rates been frozen until?

Answer 29

April 2028

Question 30

Corporation tax

Answer 30

25% risen from 19%

Question 31

UK gini coefficient

Answer 31

0.343

Question 32

Average lending rate

Answer 32

5.25%

Question 33

Recent bank failure

Answer 33

Credit Suisse taken over by rival UBS

Question 34

2 causes of low business confidence

Answer 34

Brexit Hogh oil cost

Question 35

Savings ratio and a cause of this

Answer 35

9.3% - quite high for UK, low confidence

Question 36

Example of QE being used and figure

Answer 36

£100bn during COVID, £895bn cumulative total