An economy crib sheet

Bank of England interest rate
0.5%                It’s been at this level since March 2009, when it was cut by 0.5%.  In mid 08 it was 5.0%.
The Bank has made purchases of £375bn of mainly government bonds as part of its Quantitative Easing programme.
 
GDP growth
First quarter 2013                +0.3%
Twelve months to Q1           +0.6%
Since level before recession: -2.6%
 
Office for Budget Responsibility forecasts for GDP growth
2011       2012         2013       2014      2015      2016     2017
+0.9%     +0.2%       +0.6%     +1.8%     +2.3%    +2.7%    +2.8%
(actual)
 
Inflation
Consumer Price Index +2.4%              (12 months to April 13)
Retail Price Index                     +2.9%              (12 months to April 13)
 
Unemployment
ILO unemployment rate           +7.8%              (3 months average to March 13)
Unemployment number            2.5 million         (to March 13)
 
There are 29.7 million people in work, up over 400,000 over 12 months.
 
Wages
Average weekly earnings      +0.8%              (ex bonus, 3 month average annual, to March 13)
                                            +0.4%              (with bonus, as above)
 
House prices
Nationwide                           +0.9%              (year on year, April 13)
 
Office for Budget Responsibility forecasts on government borrowing
 
Deficit (annual borrowing) (underlying ie excluding Royal Mail and Asset Purchase Scheme transfers)
2011/2    2012/3    2013/4    2014/5    2015/6    2016/7     2017/8
£121bn    £121bn    £120bn    £108bn     £96bn      £67bn       £48bn
 
%GDP  7.9%          7.8%         7.5%        6.5%         5.5%         3.7%          2.3%
         (actual)
 
Public sector net debt % GDP
2011/2      2012/3     2013/4    2014/5    2015/6    2016/7     2017/8
            71.8%        75.9%        79.2%       82.6%      85.1%       86.5%       84.8%
 
 

Stephen Beer, 23/05/2013

 
 Blog 
 Tags 
sb-ad-keeplambeth
 Recent Articles 
Interviewed on TWR Radio
The Tories' death rattle sounds
How Christians on the Left plans to build bridges between faith groups and Labour
Brexit on the ballot 
The Tory 'decade without growth'
 Labour News 
Loading...