live data Flashcards
Annual growth rate since 2023
0.1%
Growth rate of 2024 Q1
0.2%
Why may annual growth rate be low? (link to AD)
- high IR
- low consumer and business confidence
- rising food, and fuel prices
- cost of living crisis
- UK shrinking labour force
- under-performing public sector
Quarterly growth rate of 2023 Q4
-0.3% of GDP
Annual growth forecast
0.8%
Output gap of GDP
-0.1% (negative output gap)
GDP per capita
£36000
total uk GDP
2.53 trillion £
break down of UK’s GDP from different sectors
- services (79%)
- manufacturing 14%
- construction 6%
-agriculture 1%
VERY UNBALANCED
unemployment rate
4.2% (cyclical)
employment rate
74.5%
economic inactivity rate
22.2%
Economically inactive meaning
- those who are neither employed or unemployed, no longer seeking a job actively
wage growth
5.6%
youth unemployment
11% (16-24yro)
Inflation rate (CPI)
3.2%
current account deficit
3.2% of GDP
min wage
£11.44 an hour
Exchange rate with US
£1 = 1.24$
Before brexit
£1 = $1.60
Budget deficit
4.2% of GDP
National debt
98% of GDP
income tax bands
up to 12570£ 0%
12570 - 50270 20%
50270 - 125140 40%
over 125140 - 45%
National insurance
12% to 10% to 8%
corporation tax
25%
VAT
20%
Gini coefficient
0.359
base interest rate
5.25%
average lending rate
6.25%
MPS
10.5%
QE since 2009
895bn £
