Blog
July 2014 - UK Economy back to Pre Crisis Level
26th July 2014
An important landmark for the UK economy? Britain’s economy is finally larger than it was before the financial crisis six years ago. FT economics editor Chris Giles analyses the data and warns that continuing weak productivity means output growth will be slower than before the crisis - an excellent analysis of the key macro indicators suitable for all A level economics students. I have added some charts on the UK drawn from the latest IMF world economic outlook.
Chris Giles on the performance of the UK economy
Data on the UK economy from the IMF world economic outlook
Real GDP growth
Capital investment as a share of GDP (%)
Consumer price inflation (%)
Unemployment rate (% of the labour force)
Current account of the balance of payments (% of GDP)
Suggestions for further reading
Robert Peston - farewell to the mother of all recessions (BBC): http://www.bbc.co.uk/news/business-28480145
Guardian: Martin Rowson on George Osborne's GDP victory – cartoon - http://www.theguardian.com/commentisfree/cartoon/2...
GDP isn’t everything. This is six years of stagnation, not recovery (Guardian) - http://www.theguardian.com/commentisfree/2014/jul/...
The British economic recovery in 13 charts (Financial Times) - http://ftalphaville.ft.com/2014/07/25/1908192/the-...
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.