Welcome news on capital spending but CSR appears to favour south over north
There were some snippets of good news in the Chancellor’s Spending Review statement yesterday, reports ippr’s Tony Dolphin.
Tony Dolphin
Mixed news from the trade front
The ONS trade stats show the UK’s deficit on trade in goods & services shrank from £5bn in July to £4.6bn in August as, though exports fell, imports fell more.
Falling confidence hits housing market
Latest figures from the Halifax show house prices in the UK fell by 3.6 pc in September. The average UK house is now valued at £162,096 according to the bank.
Economic update – October 2010
Although the UK economy grew rapidly in the second quarter (GDP rose by 1.2%) the composition of growth was a little disappointing, reports ippr’s Tony Dolphin.
IMF assessment out of date: weakening service sector highlights growth risks
On Monday the International Monetary Fund (IMF) said the UK economy was improving steadily from recession and that it was strong enough to cope with the cuts in public spending and tax increases proposed by George Osborne. But their assessment is out-of-date. The economy was recovering prior to Osborne’s June budget, but growth has clearly weakened since then
Economic update – September 2010
The main economic debate in the UK still centres on whether the economy is strong enough to stand the strain that will be placed on it by George Osborne’s fiscal consolidation plans.
Strong growth – but heavily reliant on inventories
Figures released today by the Office for National Statistics show that real GDP in the UK increased by 1.2 per cent in the second quarter – slightly better than the 1.1 per cent first estimate.
Part-time jobs are no substitute for full-time employment
As a result of the Coalition’s policies, unemployment will remain at a very high level and around 1 million people who want to work full-time will remain stuck in part-time jobs.
Early signs suggest Osborne’s gamble is not paying off
George Osborne’s ‘emergency budget’ was a huge gamble. The latest trade figures as well as consumer confidence and housing data show it’s unlikely to pay off.
Economic update – August 2010
Alistair Darling and George Osborne both claimed the news that the economy grew by 1.1 per cent in the second quarter of the year – almost double economists’ expectations – was vindication of their economic policies.