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Monthly Archives: September 2010

I am away until Monday 4th October and will resume blogging then.

Posted by Nigel Tree | Leave a comment

Oh no, it’s started already.

Following my blog yesterday on the dangers of austerity packages, Ireland’s actions are coming home to roost. Ireland had been praised in some quarters for its savage austerity measures which have led to rising unemployment. But it has just been announced that the Irish Republic saw shrinkage of its economy by 1.2% in the second quarter. The fact that government’s … Continue reading

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Record public sector borrowing in August

Public sector borrowing reached £15.9bn in August, which was a record figure for the month. This compares with £14.1bn in the same month last year. The current budget deficit which shows the difference between government spending and income rose by £2.3bn to £13.3bn. This is not very good news on the surface, and gives added reason to the chancellor to … Continue reading

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Upsurge in world trade forecast

World trade will grow by 13.5% in 2010 according to economists at the World Trade Organisation. This is faster than the March forecast of a 10% expansion in trade volumes. Merchandise exports of developed economies are predicted to expand by 11.5% in volume terms while the rest of the world (including developing economies and the Commonwealth of Independent States) is … Continue reading

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Number of hungry people still ‘unacceptably high’

Yesterday, the UN’s Food and Agriculture Organisation (FAO) and the United Nations World Food Programme (WFP) said that the number of hungry people in the world remains unacceptably high despite expected recent gains that have pushed the figure below 1 billion. The new estimate of the number of people who will suffer chronic hunger this year is 925 million — 98 … Continue reading

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Surprise inflation figures

The latest figures were a surprise, only not in a good way. CPI annual inflation, which is the Government’s target measure, was 3.1% in August and unchanged compared to the previous month. General expectation in the City had been that the rate would continue to fall to around 2.9%. There were several categories which produced strong upward pressure on prices. … Continue reading

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Producer prices continue to moderate in UK

Producer prices are measured in two ways. Firstly, there are input prices which is a measure of those intermediate goods and raw materials which manufacturers need to produce their finished products. And secondly, output prices or ‘factory gate inflation’ which measures the price of finished goods as they leave the factory. In August, figures just published by the Office for … Continue reading

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Record UK trade gap

The deficit on trade in goods widened to £8.7bn in July, which is the biggest monthly figure since this current series of measurement began in 1998. This deficit compares with one of £7.5bn in June according to figures published yesterday by the Office of National Statistics. The UK’s balance of trade on goods and services also widened from £3.6bn in … Continue reading

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Economic recovery slowing according to OECD

The world economic recovery may be slowing faster than previously anticipated, according the OECD’s latest Interim Economic Assessment. Growth in the Group of Seven countries is expected to be around  1½ per cent on an annualized basis in the second half of 2010 compared with the previous estimate of around 1¾ per cent in the OECD’s May Economic Outlook. The OECD … Continue reading

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6.4% of EU 27 population made up of foreign citizens

Analysis just published by eurostat shows that on 1 January 2009, 31.9 million foreign citizens lived in the EU27 Member States, of which 11.9 million were citizens of another EU27 Member State. The rest were citizens of countries outside the EU27, in particular from other European countries (7.2 million), Africa (4.9 million), Asia (4.0 million) and the American continent (3.3 … Continue reading

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