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Monthly Archives: November 2009

Unemployment has stabilised in the OECD

The unemployment rate in the OECD area remained at 8.6% in September, the same as it was in the previous month. Overall, unemployment was 2.3 percentage points higher than it was a year earlier.   When we look at the Euro area, unemployment was 9.7% in September which was 0.1 percentage point higher than August. Meanwhile the latest figures for … Continue reading

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Mixed messages yet again

Today we have seen the publication by the National Institute of Economic and Social Research (NIESR) of its monthly estimate of GDP for the three months ending in October. This suggests that output fell by 0.4% which was the same as the government’s own initial forecast for the three months ending in September.   The NIESR has a pretty good … Continue reading

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Quantitative easing to expand by £25bn

The Bank of England’s Monetary Policy Committee has just confirmed that Bank Rate will remain at 0.5%, as it has since early March this year. However, the MPC decided to extend its asset purchase programme to the tune of an additional £25bn, to reach a total of £200bn.   The Committee set the scene by noting that output has fallen … Continue reading

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Asia recovering quickly

Asia is quickly rebounding from the global crisis according to the International Monetary Fund (IMF) in their latest report on the region. In the new Regional Economic Outlook which covers Asia and the Pacific, it forecasts an acceleration in economic growth from 2.75% in 2009 to 5.75% in 2010. These figures are both higher than previous estimates.   Why has … Continue reading

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New manufacturing orders hit a sixty-nine month peak

“It appears that the manufacturing sector has turned a corner and is starting to put itself out of recession. After this long and deep downturn, manufacturers are now reporting strong growth in both output and new orders.” This comment by David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply (CIPS) was made in response to the … Continue reading

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