UK Economy Stats 2023 Flashcards by Ini Kazeem

Q

Economic growth in 2022

A

4.10%

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Q

UK economy contraction in 2020

A

-11%

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Q

Current growth figures in Q4 2022

A

0.10%

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Q

Forecasted annual growth in 2023

A

-0.20%

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Q

Projected peak negative output gap

A

1.60%

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Q

GDP per capita

A

£33,000

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Q

Total GDP

A

£2.4 trillion

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Q

Services sector contribution to GDP

A

79%

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Q

Manufacturing sector contribution to GDP

A

14%

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Q

Construction sector contribution to GDP

A

6%

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Q

Agriculture sector contribution to GDP

A

1%

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Q

Unemployment rate

A

3.80%

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Q

Employment rate

A

75.80%

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Q

Economic inactivity rate

A

21.40%

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Q

Youth unemployment rate

A

10.80%

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Q

Long-term unemployment rate

A

1%

Q

Wage growth

A

6.60%

Q

Inflation rate

A

10.10%

Q

Core inflation rate

A

6.20%

Q

Producer price inflation

A

8.70%

Q

Inflation expectations

A

5.40%

Q

Food price inflation

A

19.10%

Q

Current account deficit

A

3.3% of GDP

Q

National debt

A

100% of GDP

Q

Income tax brackets

A

Progressive rates

Q

Minimum wage

A

£10.42 per hour

Q

Interest rate (Bank of England base rate)

A

4.25%

Q

Quantitative easing

A

£895 billion