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3- Economics- Macro > Uk Econ Stats > Flashcards

Uk Econ Stats Flashcards

1
Q

Annual growth rate

A

0.1% 2023

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2
Q

Quaterly growth rate - q4 2023

A

-0.3%
Stagnating growth technically recession as q3 too- poor productivity and increasnig cost push

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3
Q

annual growth forecast

A

0.8% 2024

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4
Q

Potential gorwth rate

A

Pre 2008- 2.5%
Currently around 1%

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5
Q

Output gap

A

-0.1%
Negative
Actual growth below potential growth

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6
Q

Gdp per capita

A

36k

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7
Q

Total gdp

A

2.53bn

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8
Q

Breakdown uk econ

A

Servcies 79%
Manufacturing 14%
Construction 6%
Agriculture 1%

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9
Q

Unemployment rate

A

4.2%
Expected to rise
Cyclical rate

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10
Q

Nairu

A

3.5%

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11
Q

Employment rate

A

74.5%

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12
Q

Economic inactivity rate

A

22,2%
People not seeking not able not willing work but of working age
Many not returned 50-60yo to workforce after covid
Increase lt sick
Increases labour shrotage

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13
Q

Wage growth

A

5.6%
Those in work mroe bargaining power high as labour market small
Inflation fallen now
Yet hgh wage gortwh could push cost and demand inflation

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14
Q

Job vacancy

A

Falling
Loose labour market
Few job vacancies available

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15
Q

Youth unemployment

A

18-24
11%

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16
Q

Consumer confidence

A

Very weak
High inflaion
High interest rates
Fiscal drag

17
Q

Cpi inflation

A

3,2%
Disinflationary pressure
Has fallen
Peaked 11.1% oct

18
Q

Core inflation rate

A

4.2%
Cpi without food, fuel ect- volatile

19
Q

producer price inflation

A

0.6%
Tracks change input and output prices- gate to shop

20
Q

inflation expectations

A

3.3%

21
Q

Current account deficit

A

3.2% gdp

22
Q

min wage

A

11.44

23
Q

Exchaneg rate

A

Weak pound- yet not improved current account
Since brexit
Us- strong
Euro area- stagnating

24
Q

Budget deficit

A

4.2% 2023-24
Ever since covid

25
Q

Nat debt

A

98% gdp
More interest payments than on education
Imf raised concern default on debt

26
Q

Bond yields

A

4.2%
Has now come down since truss
Constractionary fiscal policy- progressive income tax

27
Q

Income tax rates

A

Frozen 2029- fiscal drag
45% top rate- 125k
Estimated earn 45bn for gov per year by 2028
Equivalent 7% increase

28
Q

National insurance

A

12-10-8%

29
Q

Corporation tax

A

19 to 25%

30
Q

Gini coefficient

A

Increased 0.357

31
Q

Boe base rate

A

5.25%

32
Q

Av lending grate

A

6.25%

33
Q

Bank willingness to lend

A

Good

34
Q

Consumer confidence

A

Very weak

35
Q

Business confidence

A

Poor but positive sign

36
Q

savings ratio

A

10.5%

37
Q

Qe

A

895bn
Total amount boe pumped into gov
Started in 2009
More than half in 2020 covid

38
Q

Size of uk workforce

A

32.98 mill

3- Economics- Macro (21 decks)

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