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Key Data on the UK Economy (April 2014)
7th May 2014
A selection of key data on the UK economy
Updated: April 2014, Source: ONS, OECD, IMF, HM-Treasury, Bank of England
| Indicator | Data for 2013 | Latest figure or 2014 forecast |
| Real GDP growth (% change) | 1.9 | 0.7% (Q4, 2013) |
| Unemployment rate (LFS measure) (%) | 7.6 | 6.9% |
| Unemployment total (LFS measure) | 2,456,000 | |
| Employment rate (LFS) % of population of working age | 71.5 | |
| CPI inflation rate (%) | 2.5 | 1.6 |
| Budget (fiscal) deficit (% of GDP) | -6.1 | |
| Balance of Payments (% of GDP) | -3.7 | |
| Trade balance (goods and services, £bn) | -25bn | |
| Trade balance (goods, £bn) | -108bn | |
| Trade balance (services, £bn) | +83bn | |
| Current account balance (BoP, % of GDP) | -3.4 | |
| Consumer spending (% change) | 2.3 | |
| Fixed investment (% change) | -0.5 | (7.7% forecast for 2014) |
| Investment (% of GDP) | 14.3 | |
| Manufacturing output (annual % change) | -0.7 | |
| Policy interest rates (per cent) | 0.5 | 0.5 |
| Average mortgage interest rate (per cent) | 4.4 | |
| Government budget balance (-ve figure shows fiscal deficit) | -5.8 | |
| Bond yield (10 year government bond) | 2.9 | |
| Global competitiveness ranking (World Economic Forum) | 10th (8th in 2012) | |
| Unfilled job vacancies | 545,000 | |
| Wages and earnings (annual growth rate) | 2.0 | 0.8 |
| Household savings ratio (% of disposable income) | 6.7 | |
| House Price Inflation (annual %), HBoS data | 4.9 | |
| Crude oil price (US$ per barrel) average price | $111 | |
| Labour productivity (% change in output per worker) | -0.3 | |
| Youth unemployment rate (per cent) | 20.9 | |
| Gross government debt to GDP ratio (%) | 88.7 | |
| Net official development assistance (Aid) (% of GDP) | 0.58 | |
| Total tax revenue (% of GDP) | 35.5 | |
| Output gap (IMF estimate, % of potential GDP) | -2.7 |
Extra resources and subject support from the Tutor2u team!
For more resources on the UK economy – check out the Tutor2u blog and also our Tutor2u slide share channel for regularly updated presentations, articles, quizzes and other resources: The twitter hash tag we use for AS macro is #econ2 and #econ4 for A2 macro – please follow Jim Riley @tutor2u and Geoff Riley @tutor2u_econ and Jonny Clarke @tutor2u_jon
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.