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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Setback in global financial stability says IMF

Progress to restore global financial stability has suffered a setback in advanced economies, the International Monetary Fund said in its latest Global Financial Stability Report, with markets still sensitive to negative surprises. The IMF says that although we can continue to expect a recovery and a gradual improvement in financial stability, considerable risks still remain. These risks were summarized as: … Continue reading

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Could there be a jobless recovery within the OECD?

“The recovery is underway but it will not be strong enough to bring the millions of new unemployed back to work” according to OECD Secretary-General, Angel Gurria, in a meeting with G20 labour ministers in Washington yesterday.  According to Gurria the major policy challenge is to balance two apparently contradictory needs: to tackle unacceptably high unemployment and simultaneously reduce unsustainably … Continue reading

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500,000 public sector jobs at risk

Once we’ve decided to which political party we are going to say “squeeze me I’m yours”, we are then going to be well and truly squeezed. And those in the public sector are going to be squeezed more than most. This prospect has led the Chartered Institute of Personnel and Development (CIPD) to say that more than half a million … Continue reading

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It was worse than we thought

Yesterday the ONS produced revised figures for GDP growth in the first quarter of 2009. Their original estimate had been that GDP fell by 1.9% but this has now been revised downwards to 2.4%. This was the biggest quarterly fall for 51 years.   It is reasonable that revisions have to be made retrospectively, but we are not used to … Continue reading

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