trade
OECD forecasts modest growth for UK economy
The OECD released its latest Economic Outlook today, setting out its forecasts for developments in its member countries. It is supportive of the UK government’s fiscal tightening, describing it as “substantial but necessary”, but warns that it will, when combined with weak real income growth, mean moderate output growth over the next two years.
Economic update – November 2010
The UK economy grew by 0.8 per cent in the third quarter of 2010, twice as fast as expected by City economists. As in the second quarter, growth was boosted by a large increase in the output of the construction sector, but manufacturing output also increased strongly and there were solid increases in output across the service sector. Growth in the last three quarters has averaged an annual rate of 3.2 per cent.
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.
Trade follows the flag
A depressing basis for foreign policy indeed but, at least the coalition government are being honest about their motivations instead of pretending that it is about ethics or responsibility.