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Category Archives: GDP

Government debt continues to rise in the EU

The government debt to GDP ratio in the euro area rose from 92.3% at the end of the first quarter of 2013, to 93.4% at the end of the second quarter of 2013, according to figures released yesterday by Eurostat. When we look at the whole of the EU, the EU28, the figures rose from 85.9% to 86.8% over the … Continue reading

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Some good news at last as GDP rises

There was a strong upturn in the UK economy in the third quarter of this year, as GDP grew by 1% from the second quarter level. This was following three consecutive quarters of contraction when the economy slipped back into recession and was the strongest quarterly growth since 2007 according to the figures released this morning by the Office for … Continue reading

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Huge diversity in GDP per capita throughout the EU

Based on first preliminary estimates for 2011 just released by Eurostat, Gross Domestic Product (GDP) per capita expressed in Purchasing Power Standards (PPS) varied from 45% to 274% of the EU27 average across the Member States. The highest level of GDP per capita in the EU27 was recorded in Luxembourg with a level of more than two and a half … Continue reading

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It’s only business investment which can save the economy

This is the substance of an economic forecast just released by the Ernst & Young ITEM Club. Whilst acknowledging that the UK may have been saved from a double dip recession by a ‘loose’ monetary policy, the ITEM Club believes that UK GDP growth will be a dismal 0.4% this year, before rising to 1.5% in 2013 and 2.6% in … Continue reading

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Divergence in growth between US and Europe

Economic growth in the G7 countries is expected to be firmer through the first half of 2012, but the recovery remains fragile and will likely proceed at different speeds in North American and Europe, according to the OECD in its latest Interim Economic Assessment. The Assessment, presented in Paris by Chief Economist Pier Carlo Padoan, says the G7 economies are … Continue reading

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UK growth revised downwards for last year

UK gross domestic product (GDP) fell by 0.3% in the fourth quarter of 2011, according to the Office for National Statistics (ONS). This follows two previous estimates of – 0.2% for the quarter. This had the effect of reducing total growth in 2011 down to 0.7% from the 0.8% earlier estimate. In the last quarter of 2011 output of the … Continue reading

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UK GDP falls in the last quarter of 2011

UK GDP shrank by 0.2% in the final three months of last year, according to figures just published by the Office for National Statistics. This is the first fall since the last quarter of 2010. Most economists had expected a drop of 0.1%, although this is only a preliminary estimate and may well be corrected at a later date. The … Continue reading

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Growth in the EU is “coming to a virtual standstill”

“Growth in the second half of 2011 is now expected to be subdued, coming to a virtual standstill towards the end of the year.” So says a new Interim Forecast produced by the European Commission today. The Commission noted that GDP grew strongly in the first quarter of 2011, but slowed down substantially in the second, and pointed out the … Continue reading

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UK Growth is “on a plateau”

Is the UK economy grinding to a halt? Latest figures show that GDP in the first quarter of 2011 grew at only 0.5%. This follows on from a decline of 0.5% in the last quarter of 2010, which suggests that overall the economy has stood still for the past six months. As Joe Grice, chief economist for the ONS put … Continue reading

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Large companies are swimming in cash, while consumers are drowning in debt

So says the Quarterly Economic forecast produced by the Ernst & Young Item Club. They forecast that UK GDP growth will be only 1.8% this year, but will rise to 2.3% in 2012 and 2.7% in 2013. Where will the growth come from? They believe that there will be a “major revival” in business spending and forecast that business investment … Continue reading

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