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Monthly Archives: August 2010

No increase in OECD growth in second quarter

Gross domestic product (GDP) in the OECD area rose by 0.7% in the second quarter of 2010, the same rate as in the previous quarter. Real GDP grew by 1% in both the euro area and the European Union driven by record growth of 2.2% in Germany; its highest rate since reunification. GDP growth was 1.1% in the United Kingdom, … Continue reading

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Several years before we get back to normal

It will be several years before the economy gets “back to anything we can call remotely normal”, said the governor of the Bank of England, Mervyn King in the Bank’s August Inflation Report. Personally I would hate to be seen as normal, but there is something quite reassuring about having that name applied to the economy. However, we are not … Continue reading

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Failing the Global Poor

I have just read a very interesting article with the title shown above, by Professor David Hulme, Professor of Development Studies, University of Manchester published in The World Today by Chatham House. In the article he looks at the eight millennium development goals and how close we are to achieving them. He writes: “When world leaders meet in New York … Continue reading

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Government spending and crowding out

The Congressional Budget Office (CBO) in the US has just revised a forecast it made for the effect of the government deficit and debt on the crowding out of investment. They were taken to task for figures which seemed to overstate the relationship, which had given ammunition to some commentators who are in favour of severe cutbacks in government expenditure. … Continue reading

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Net exports from the UK financial sector fell last year

Net exports of the UK financial sector fell by 17% in 2009 to £41.8bn. This was the second highest figure on record but was, not surprisingly, down from £50.6bn in 2008 as a result of the ‘credit crunch’. These figures were published yesterday by TheCityUK, an independent body which promotes the UK financial services industry. Although securities dealers contributed £1.4bn, … Continue reading

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Increase in demand for rail travel

A significant increase in demand for rail travel during the first half of this year has seen a return to growth in passenger numbers on the railways not seen since before the recession. October 2009 marked a turning point in demand, according to analysis published today by the Association of Train Operating Companies (ATOC). During the first half of 2010, … Continue reading

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