Extra Goodies Flashcards
What is the current annual growth rate
0.1% as of 2023
What is the current quarterly rate
-0.3% (Q4 2023)
What is the current annual growth forecast
0.8% (2024)
What is our output gap
-0.1%
What is current GDP per capita
£36,000
What is total GDP
£2.53 billion
(79% services, 14% manufacturing, 6% construction, 1% agriculture)
What is current potential growth rate (potential growth without inflation setting in)
Approx. 1% - bad for UK
(prior to crisis and pandemic it was 2.5% which is good then dropped to 1.5%)
What is current unemployment rate
4.2%
What is the current employment rate
74.5%
What is the current economic inactivity rate
22.2%
What is the wage growth
5.6%
What is happening to the labour market
Loose labour market
Job vacancies are falling (less firms wanting workers )
What is the current youth unemployment rate
11%
What is current consumer confidence
Very weak
Causes: Inflation, house prices , unemployment, uncertainty, recession, etc.
Current inflation rate (CPI)
3.2% (core is 4.2%)
Peaked in oct 2022 at 11.1% so disinflation
What is the inflation expectations from consumers & producers
3.3%
Current wage growth
5.6%
Size of current account deficit
3.2% of GDP
How has productivity and investment been
Very poor since financial crisis
Current min. Wage
£11.44/ hour
Current value of £
Weak since Brexit (haven’t seen any improvement in CA though)
Performance for major trading partners
US = strong
Euro area = stagnating
Size of budget deficit
4.2% of GDP (historically high since covid)
National debt
98% of GDP
Current income tax plan
Frozen to 2029 (fiscal drag)
What happened to national insurance
12% to 10% to 8% talk of cut to 6%
Corporation tax
19 to 25%
VAT
20%
Gini coefficient
Increased to 0.357
BofE base rate
5.25% kept steady
Bank willingness to lend
Good
Consumer and business confidence
Poor but business is showing positive signs
(Elections coming up)
Saving ratio
10.5% historically high
QE
Started 2009 and then over covid too
£895 bn
