From the TUC

Economics (page 2)

‘Markit’ concede increasing concerns on recovery following services PMI

04 Jun 2015, by in Economics

Just ahead of the election the weakness in the GDP figures was greeted with some scepticism (see here). Earlier this week there were disappointing manufacturing figures from Markit, who compile ‘purchasing managers’ index’ measures of activity. Yesterday Markit issued service sector figures showing a significant deterioration: The Business Activity Index signalled growth of services output…

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Double dose of bad news on manufacturing

01 Jun 2015, by in Economics

Over the past year official statistics have shown growth in the manufacturing sector steadily slowing to a near halt, with in 2015Q1 quarterly growth only just above zero at 0.1 per cent. Today two private sector sources reported this weakness continuing into the second quarter. The latest quarterly EEF/DLA Piper Manufacturing Outlook figures (EEF) “underline…

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The deflation debate and austerity – how policymakers may be severely misjudging capacity

20 May 2015, by in Economics

There is a sense in the discussion surrounding the latest inflation figures that those who are less-than-sanguine about the threat of deflation are somehow ignorant or even reckless. Here’s Robert Peston yesterday: However many of those who define themselves as “serious economists” (that’s not me, by the way – I’m a hack) are desperately anxious…

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Only a minority of voters are feeling an economic recovery, and only a minority support continued cuts in government spending

15 May 2015, by in Economics

Lord Ashcroft’s poll of 12,000 voters the day after the election gives some indications on the role of the economy in peoples’ decisions. Responses to question 9 support the view that in spite of recent positive economic news, the majority of the population are not feeling the recovery. Only 25 per cent of voters say…

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Next chancellor should reject flawed logic of FT’s Chris Giles in saying weak productivity would require ‘harsher austerity’

07 May 2015, by in Economics

In a column in today’s Financial Times (‘What the next chancellor does not yet know’), Chris Giles sets the economic tone for the next Parliament in part on the basis of yet unknown productivity outcomes.  For Giles, as for many others, productivity is an inherent quality or defect of the economy that operates on a…

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Manufacturing in the balance?

29 Apr 2015, by in Economics

From the latest official figures, it looks as if manufacturing output remains well below its pre-recession peak, and once more appears to be flatlining. A TUC briefing, Manufacturing in the balance suggests that our ‘foundation industries’, the productive heartland of UK manufacturing, are losing businesses and jobs at a disturbing rate – faster than for…

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