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The UK Economy may be on the cusp if receiving two new little growth spurts. First of all the Chancellor signalled an adjustment in fiscal policy to free up cash for investment. Second, the recent fall in sterling may do what the crisis-driven fall in sterling wouldn’t: help generate a sustained export improvement. Both woudl...
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When it comes to growth, the UK economy has shown that it can deliver in recent years. Underneath though there are concerns – a gaping current account, very strong credit growth and house prices (and rents) that seem to rise relentlessly. Some might even say they’re wearingly familiar. Onwards and upwards. There was a decent performance...
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UK businesses appear in decent shape. Turnover is up as are Corporation Tax receipts. Yet sterling has lost roughly one-tenth of its value since June and that’s raising input costs and squeezing profits. A long summer of falling costs boosting profits is coming to an end. The squeeze. The value of turnover for UK-based firms rose...
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The biggest factor supporting the UK’s recent relative economic strength is jobs. The proportion of the working-age population in work is the highest ever recorded. Jobs will largely shape the outlook too. If the labour market holds so should the wider economy. Thriving. The UK job market continued its record-setting run between May and July. Employment...
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A decent month for trade and a decent year for industry still leave gaps in both. The trade deficit remains at near-record levels while industrial output is 7% lower than it was a decade ago. The first gap is the more significant. Flat. Industrial production in July grew by just 0.1% compared with June. Manufacturing was...
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