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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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