The slowdown in global demand has reduced growth in OECD countries

Real GDP growth in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.4% in the first quarter, according to figures released this morning by the OECD. In terms of the contributors to growth, the figures show that private consumption contributed 0.1 percentage point to GDP growth, compared with 0.3 percentage point in the previous … 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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Global economies facing different challenges according to World Bank

The World Bank has just published its June 2011 edition of Global Economic Prospects. In this it projects that as developing countries reach full capacity, growth will slow from 7.3 percent in 2010 to around 6.3 percent each year from 2011-2013. High-income countries will see growth slow from 2.7 percent in 2010 to 2.2 percent in 2011 before picking up … Continue reading

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Fall in UK unemployment

Unemployment, measured by the Labour Force survey, fell by 36,000 in the three months to March 2011, to reach 2.46m. This is according to official statistics just released by the Office for National Statistics. This means that the unemployment rate was down 0.1 percentage point on the quarter, to reach 7.7%. The number of men unemployed fell by 31,000 to … Continue reading

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Big rise in inflation and heartfelt apologies from Mr King

Look away now if you are of a nervous disposition. Latest figures from the ONS this morning show that CPI annual inflation reached 4.5% in April, up from 4.0% in March. The only time CPI inflation was higher than this was in September 2008 when it reached 5.2% which was a record high. The RPI figure came in at 5.3% … Continue reading

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Economy remains flat says NIESR

Research published yesterday by the National Institute of Economics and Social Research (NIESR) says that their monthly estimates of GDP suggest that output declined by 0.1% in the three months to January 2011. This follows on from the official fall in growth of 0.5% in the three months to December. Growth in January was actually 0.6% which was considered ‘robust’, … Continue reading

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Solid growth for world recovery, but not without its dangers

The world economy is moving from a post-crisis bounce-back to a period of slower growth over this year and next. This is according to the latest Global Economic Prospects 2011 published by the World Bank. The report estimates that global GDP grew by 3.9% in 2010, but will slow to 3.3% this year, before recovering to 3.6% in 2012. Fastest … Continue reading

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Slowdown in investment in OECD pulls GDP growth down

Real GDP in the OECD area grew by 0.6% in the third quarter of 2010, which represents a fall from the 0.9% recorded in the previous quarter. Capital formation only contributed 0.2 percentage points to overall growth, falling from 0.5 percentage points in the second quarter. The main contribution to GDP growth came from private consumption which added 0.4 percentage … Continue reading

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Could the UK be consigned to the “slow lane of history” for the next 40 years?

The global financial crisis has accelerated the shift in economic power to the emerging economies, according to a report published by consultants PricewaterhouseCoopers (PwC) today. This is one of the conclusions from their “The World in 2050” report. This suggests that the so-called E7 group of emerging economies (China, India, Brazil, Russia, often referred to as the BRICs, with Mexico, … Continue reading

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Surprise lift for UK economy

The UK economy grew by 0.8% in the third quarter of this year, following 1.2% growth in the second quarter. Most analysts had been predicting a growth figure of around 0.4%, so this is obviously good news. But, we need to bear in mind that these are provisional figures and are subject to revision at a later date. I have … Continue reading

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