The Commons Library has published its briefing paper of the latest key indicators for the UK and international economies.
This month’s developments indicate that the employment rate hit record highs but wage growth was slow. GDP growth was at its slowest level in three years and Eurozone inflation was on the up.
The monthly publication provides analysis of all the key indicators available from various sources and brings them together into a single briefing paper.
The employment rate in September-November 2015 was 74.0%, this is the highest level since comparable records began in in 1971.
The unemployment rate was 5.1% in the same period, its lowest level since 2006.
Wages grew by 2.0%, down by 0.4% points - average weekly wages are still below their 2007 peak.
GDP in the UK grew by 0.5% in Q4 2015 – a slight improvement on the previous quarter.
Annual growth in 2015 was 2.2% down compared with 2.9% in 2014. This was the slowest growth for three years.
However, the annual growth was in line with a recent forecast from the IMF who said that the UK economy would grow by 2.2% in 2015 and for the next two years.
Inflation in the Eurozone increased to 0.4% in January, still well below the target of 2.0%, but double the December rate (0.2%).
In recent months, the ECB has taken various steps to bolster price growth including extending its programme of quantitative easing by six months to March 2017.
Content of briefing paper
- Headline UK Economic Indicators, Feb 2016
- This month’s developments
Introduction to Economic Indicators
- Gross Domestic Product (GDP)
- GDP: International
- Components of GDP
Prices and Wages
- Inflation: International
- Average Earnings
- Unemployment: International
Finance and Borrowing
- Interest Rates
- Public Finances
- Business Lending
- Individual Lending
- Financial Indicators
Trade and Exchange Rates
- Business and Consumer Confidence
- Retail Sales
- Housing Market
- Household Debt