Uk Econ Stats

Question 1

Annual growth rate

Answer 1

0.1% 2023

Question 2

Quaterly growth rate - q4 2023

Answer 2

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

Question 3

annual growth forecast

Answer 3

0.8% 2024

Question 4

Potential gorwth rate

Answer 4

Pre 2008- 2.5%
Currently around 1%

Question 5

Output gap

Answer 5

-0.1%
Negative
Actual growth below potential growth

Question 6

Gdp per capita

Answer 6

36k

Question 7

Total gdp

Answer 7

2.53bn

Question 8

Breakdown uk econ

Answer 8

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

Question 9

Unemployment rate

Answer 9

4.2%
Expected to rise
Cyclical rate

Question 10

Nairu

Answer 10

3.5%

Question 11

Employment rate

Answer 11

74.5%

Question 12

Economic inactivity rate

Answer 12

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

Question 13

Wage growth

Answer 13

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

Question 14

Job vacancy

Answer 14

Falling
Loose labour market
Few job vacancies available

Question 15

Youth unemployment

Answer 15

18-24
11%

Question 16

Consumer confidence

Answer 16

Very weak
High inflaion
High interest rates
Fiscal drag

Question 17

Cpi inflation

Answer 17

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

Question 18

Core inflation rate

Answer 18

4.2%
Cpi without food, fuel ect- volatile

Question 19

producer price inflation

Answer 19

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

Question 20

inflation expectations

Answer 20

3.3%

Question 21

Current account deficit

Answer 21

3.2% gdp

Question 22

min wage

Answer 22

11.44

Question 23

Exchaneg rate

Answer 23

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

Question 24

Budget deficit

Answer 24

4.2% 2023-24
Ever since covid

Question 25

Nat debt

Answer 25

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

Question 26

Bond yields

Answer 26

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

Question 27

Income tax rates

Answer 27

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

Question 28

National insurance

Answer 28

12-10-8%

Question 29

Corporation tax

Answer 29

19 to 25%

Question 30

Gini coefficient

Answer 30

Increased 0.357

Question 31

Boe base rate

Answer 31

5.25%

Question 32

Av lending grate

Answer 32

6.25%

Question 33

Bank willingness to lend

Answer 33

Good

Question 34

Consumer confidence

Answer 34

Very weak

Question 35

Business confidence

Answer 35

Poor but positive sign

Question 36

savings ratio

Answer 36

10.5%

Question 37

Qe

Answer 37

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

Question 38

Size of uk workforce

Answer 38

32.98 mill