Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#1
...unless some people want to turn it into that.
I just posted this on my business website as a News article and thought some on here might be interested in some of the facts. Some of you do appreciate some facts of course.
Here it is...
The State of the Economy
Sources: JPM Asset Management Guide to Markets & ONS
UK Economy:
Average GDP growth per annum from 1999 to end 2013, year on year - 1.8% latest expectation, (IMF) - 2.4% for 2014.
UK CPI Inflation:
Average since 1999 2.3% (headline rate), December annual rate 2%
UK Unemployment:
Average since 1999 7%, last quarter (Q4 2013) 7.1%
UK Industrial Production of Capital Goods:
Average index 1998 to 2013 = 102.6, currently 114.0. (Index in 2008 = 100)
UK New Car Registrations:
Average 1998 to 2013 - 2.1 million 12 month rolling total, November 2013 2.2 million.
UK Government Spending and Tax Receipts 1967 to 2013 average:
Spending 42.6% of GDP - receipts 39.3% of GDP. Spending currently at a little over 43% of GDP and projected to fall to 39.5% of GDP by 2017/8. Tax receipts currently at approx. 37.5% of GDP are forecast to rise to 38.2% of GDP by 2017/8.
UK Government Income & Spending 2013/2014:
£612billion Income and Spending at £720billion.
UK Household Debt:
Currently at 88.5% of GDP having dropped from c. 100% of GDP in 2009. It was 'only' 65% of GDP in 1999.
Highest Unemployment Rates in the World:
Greece 27%
Spain 26%
Italy 12.3%
France 10.2%
The above all have one thing in common - members of the Eurozone, with 12.1% unemployed overall.
Next highest is India with 9.9% unemployed and Netherlands with 8.2%.
The UK (as mentioned) is at 7.1%
Fiscal Drag - Government deficit reduction as a percentage of GDP for 2010 to 2013:
Greece 6.7%
Ireland 6.2%
USA 5%
Portugal 4.4%
UK 3.8%
Germany 3.7%
It is expected that 2013-2016 Germany's fiscal drag will fall to 0.5%, the USA to 1.9%,The Eurozone to 1.5% (The Netherlands will go to minus 1.9% from 2.2%) the UK to 2.4%.
Exports as a % of GDP - figures for 2012:
Germany 38.5%
Russia 25.8%
China 24.9%
Eurozone 18.5%
UK 17.4% (8.3% of which is to the Eurozone)
Japan 13.4%
USA 9.5%
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#2
some encouraging figures although the u.k. unemployment numbers do not take into account the number of people doing part time hours that want full time.
the new car registrations surprised me as there have been reports that the young are not buying nowadays because of the running costs, mainly the insurance.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#3
Howard - there are underlying figures that show a big rise in per capita hours worked overall as well and the biggest driver of new jobs in recent months has been full time jobs. If we want to turn more part-time into full time, push up wages faster and create more jobs overall then more must be done to de-risk the jobs market with supply side reforms and to cut down on the governmetn imposed costs of employing people.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#4
a couple of things here, i don't see the irish unemployment rate. the last i heard they were turning the economy round according the european central bank.
the spain and greece figures are alarming bearing in mind the vast majority of those without jobs are young people which is a recipe for social unrest if long term.
ok a couple more, the german exports as a percentage of gdp are a result of cheap imported labour that have had a downward effect on wages. and finally i am surprised that the italian unemployment figures are so low - the same problem as here whereby the young cannot get a start and many live with their parents into their 30's.