This is a revision presentation on the state of the UK economy five months on from the June 23rd Brexit vote.
Overview:
Post-Brexit impact yet to fully materialize in the macro data
Inflation is back with rising commodity prices and a weaker currency since June 2016
Labour market performance remains strong
But scale of UK current account deficit is a problem
Structural weaknesses on the UK supply-side are unlikely to be resolved soon despite renewed focus on infrastructure and industrial policy in the new May/Hammond government
Productivity and skills gaps hurt UK competitiveness
Risk is that Brexit will lower the UK’s trend growth rate if the economy is not “match-fit” post 2019
Lots of external uncertainties as we head into 2017
The United Kingdom is the fifth-largest national economy in the world measured by nominal gross domestic product (GDP), ninth-largest in the world measured by purchasing power parity (PPP), and nineteenth-largest in the world measured by GDP per capita, comprising 4% of world GDP. It is the second-largest economy in the European Union by both metrics. In 2016, the UK was 19/28 for GDP growth in Europe, with the third lowest unemployment rate.
This is a presentation on aspects of the recent performance of the UK economy. All students are expected to have a good contextual knowledge of recent trends in indicators such as economic growth, inflation, unemployment, the trade balance, interest rates and government borrowing.
2018 has been a year dominated by increased uncertainty over the possibility of the UK making a disorderly exit from the European Union and, given the instability of domestic politics at the moment, it would be a surprise if 2019 panned out differently. According to research from the National Institute of Economic and Social Research, If the government’s proposed Brexit deal is implemented, then GDP in the longer term will be around 4 per cent lower than it would have been had the UK stayed in the EU. This is roughly equivalent to losing the annual output of Wales or the output of the financial services industry in London. This is equivalent to a loss of 3 per cent in GDP per head, worth around £1,000 per person per annum to people in the UK.
The United Kingdom is the fifth-largest national economy in the world measured by nominal gross domestic product (GDP), ninth-largest in the world measured by purchasing power parity (PPP), and nineteenth-largest in the world measured by GDP per capita, comprising 4% of world GDP. It is the second-largest economy in the European Union by both metrics. In 2016, the UK was 19/28 for GDP growth in Europe, with the third lowest unemployment rate.
This is a presentation on aspects of the recent performance of the UK economy. All students are expected to have a good contextual knowledge of recent trends in indicators such as economic growth, inflation, unemployment, the trade balance, interest rates and government borrowing.
2018 has been a year dominated by increased uncertainty over the possibility of the UK making a disorderly exit from the European Union and, given the instability of domestic politics at the moment, it would be a surprise if 2019 panned out differently. According to research from the National Institute of Economic and Social Research, If the government’s proposed Brexit deal is implemented, then GDP in the longer term will be around 4 per cent lower than it would have been had the UK stayed in the EU. This is roughly equivalent to losing the annual output of Wales or the output of the financial services industry in London. This is equivalent to a loss of 3 per cent in GDP per head, worth around £1,000 per person per annum to people in the UK.
You don’t need to produce a lot of evidence in your macroeconomics exams but knowing some basic and key facts and figures can make your answers stand out from the crowd! Here is a quickfire journey through twenty important economic numbers that won’t change before the exam – use them to support your answer and impress the examiner!
On June 23rd 2016 the UK voted in a referendum to leave the European Union.
Prime Minister David Cameron resigned the morning after the vote
A few weeks later, Theresa May was elected leader of the Conservative Party and new Prime Minister.
The terms of the UK’s new economic relationship with the EU remain uncertain.
Hard Brexit
Means that the United Kingdom leaves the EU Single Market and trades under World Trade Organization rules
Under WTO rules, each member must grant the same market access—including charging the same tariffs—to all other members as the most favoured nation
Soft Brexit
Involves the option of staying in the Single Market (like Norway)
As a member of the European Economic Area (EEA), Norway has a free trade agreement with the European Union, which means that there are no tariffs on trade between the two
The slides comprehends a firm understanding of the formation and functioning of British Economy
Highlights:
Foundation of British Economy
Nature of The Economy
Britain’s Current Economic Scenario ¡ London Stock Exchange
London vs. Economy
Role of The Government
Involvement in International Trade
Forecast on British Economy
The official name of UK is “United kingdom of Great Britain & Northern Ireland”
United kingdom began in 1707 with political union of the kingdom of England and Scotland
The economy of UK is highly developed & market oriented
It has made significant contribution in technology & industry to the world economy.
Whilst the debate over UK membership of the single currency is - by and large - decided, there is an ongoing economic discussion about whether membership of the Euro Zone is right for some of Europe's smaller and newer member nations. The Baltic States are all now members but countries such as Poland and the Czech Republic remain outside. This short revision video looks at some of the arguments for and against becoming a member nation of the Euro Zone.
Quarterly growth and levels of GDP for the UK
CPI 12-month inflation rate for the last 10 years: September 2006 to September 2016
Male and Female Employment Rates in the UK
Non-UK nationals working in the UK labour market
Components of Aggregate Demand in recent years
UK unemployment rates by region, seasonally adjusted, June to August 2016
Average UK house price, January 2005 to August 2016, not seasonally adjusted
Constant price GDP per hour worked for G7 countries, 2000 to 2015
Quarterly growth of GDP and GDP per head for UK
Economic Growth for the UK and the EU(28)
UK Bond Yields during 2016
Sterling Exchange Rate (as an index number)
UK Trade Balances By Sector (% of GDP)
UK Current Account Components (% of GDP)
Contributions to CPI Inflation (%)
The saturday economist uk economic outlook march 2016John Ashcroft
The Saturday Economist : UK Economic Outlook March 2016, Drink with me to days gone by : Service Sector (Leisure Sector) continues to drive output in the UK economy, We expect GDP growth of 2.6% this year slowing to 2.5% in 2017.
The Saturday Economist, UK Economic Outlook June 2016John Ashcroft
Growth in 2015 was 2.3% down from 2.9% in 2014. We now expect growth of 2.2% in 2016 … following the disappointing performance of manufacturing and construction in the first quarter.
The inflation outlook is still muted, with the fall in world oil, energy, food and commodity prices continuing to dominate headline inflation.
The UK economy grew by 2.0% in the first quarter, revisions to construction and manufacturing growth pulling total output lower. The service sector continues to drive growth.
In this June economics update we forecast world growth of 3.2% in 2016 up from 3.1% in 2015. UK Inflation will average just 0.3%, CPI basis, over the balance of the year 2016. Unemployment will continue to fall, government borrowing will also fall. The service sector will lead the recovery as manufacturing and construction output falls slightly.
We are forecasting a modest fall in manufacturing of around 0.2% in 2016 with a 0.9% fall in construction activity based on the latest data. The trade figures will continue to disappoint, offset by a further £2 billion oil dividend, despite a moderate oil price recovery. The challenge to the current account following the drop in overseas investment income continues and will present a significant problem to the outlook for sterling over the medium term.
Our forecast is based on a "remain" referendum outcome! .
The Saturday Economist UK Economic Outlook December 2015John Ashcroft
The Saturday Economist, UK Economic Outlook December 2015 is out now. We have lowered our forecasts for growth in 2015 and 2016. Check out over twenty pages of analysis
The Saturday Economist Brexit Briefing, all the information needed to make an...John Ashcroft
The Saturday Economist on Brexit. All the information you need to make and informed decision. We analyse the arguments in to the business, economic, political and social. The political arguments relate to who governs Britain. The social argument largely dealing with immigration and implications for education, health care and welfare.
The economics case argues against Brexit, largely because of the uncertainty relating to the alternative options. Brexit will damage investment prospects in the short term (uncertainty) and in the long term (strategic). We consider that motor, aerospace and financial services industries are particularly at risk.
As for business ... there is no business case to support the "Brexit" argument. The level of uncertainty is too severe JKA
A detailed analysis of the prospects for the UK economy in 2012 from Geoff Riley at tutor2u. Among the key themes explored by Geoff are:
Are we already back in recession?
A damaging legacy from the slump
Have policies lost their effectiveness?
Macro fragility in a world of external shocks
Inspirational presentation from Nick Parsons,Head of Research, UK and Europe and Global Head FX Strategy | Wholesale Banking | National Australia Bank Limited
You don’t need to produce a lot of evidence in your macroeconomics exams but knowing some basic and key facts and figures can make your answers stand out from the crowd! Here is a quickfire journey through twenty important economic numbers that won’t change before the exam – use them to support your answer and impress the examiner!
On June 23rd 2016 the UK voted in a referendum to leave the European Union.
Prime Minister David Cameron resigned the morning after the vote
A few weeks later, Theresa May was elected leader of the Conservative Party and new Prime Minister.
The terms of the UK’s new economic relationship with the EU remain uncertain.
Hard Brexit
Means that the United Kingdom leaves the EU Single Market and trades under World Trade Organization rules
Under WTO rules, each member must grant the same market access—including charging the same tariffs—to all other members as the most favoured nation
Soft Brexit
Involves the option of staying in the Single Market (like Norway)
As a member of the European Economic Area (EEA), Norway has a free trade agreement with the European Union, which means that there are no tariffs on trade between the two
The slides comprehends a firm understanding of the formation and functioning of British Economy
Highlights:
Foundation of British Economy
Nature of The Economy
Britain’s Current Economic Scenario ¡ London Stock Exchange
London vs. Economy
Role of The Government
Involvement in International Trade
Forecast on British Economy
The official name of UK is “United kingdom of Great Britain & Northern Ireland”
United kingdom began in 1707 with political union of the kingdom of England and Scotland
The economy of UK is highly developed & market oriented
It has made significant contribution in technology & industry to the world economy.
Whilst the debate over UK membership of the single currency is - by and large - decided, there is an ongoing economic discussion about whether membership of the Euro Zone is right for some of Europe's smaller and newer member nations. The Baltic States are all now members but countries such as Poland and the Czech Republic remain outside. This short revision video looks at some of the arguments for and against becoming a member nation of the Euro Zone.
Quarterly growth and levels of GDP for the UK
CPI 12-month inflation rate for the last 10 years: September 2006 to September 2016
Male and Female Employment Rates in the UK
Non-UK nationals working in the UK labour market
Components of Aggregate Demand in recent years
UK unemployment rates by region, seasonally adjusted, June to August 2016
Average UK house price, January 2005 to August 2016, not seasonally adjusted
Constant price GDP per hour worked for G7 countries, 2000 to 2015
Quarterly growth of GDP and GDP per head for UK
Economic Growth for the UK and the EU(28)
UK Bond Yields during 2016
Sterling Exchange Rate (as an index number)
UK Trade Balances By Sector (% of GDP)
UK Current Account Components (% of GDP)
Contributions to CPI Inflation (%)
The saturday economist uk economic outlook march 2016John Ashcroft
The Saturday Economist : UK Economic Outlook March 2016, Drink with me to days gone by : Service Sector (Leisure Sector) continues to drive output in the UK economy, We expect GDP growth of 2.6% this year slowing to 2.5% in 2017.
The Saturday Economist, UK Economic Outlook June 2016John Ashcroft
Growth in 2015 was 2.3% down from 2.9% in 2014. We now expect growth of 2.2% in 2016 … following the disappointing performance of manufacturing and construction in the first quarter.
The inflation outlook is still muted, with the fall in world oil, energy, food and commodity prices continuing to dominate headline inflation.
The UK economy grew by 2.0% in the first quarter, revisions to construction and manufacturing growth pulling total output lower. The service sector continues to drive growth.
In this June economics update we forecast world growth of 3.2% in 2016 up from 3.1% in 2015. UK Inflation will average just 0.3%, CPI basis, over the balance of the year 2016. Unemployment will continue to fall, government borrowing will also fall. The service sector will lead the recovery as manufacturing and construction output falls slightly.
We are forecasting a modest fall in manufacturing of around 0.2% in 2016 with a 0.9% fall in construction activity based on the latest data. The trade figures will continue to disappoint, offset by a further £2 billion oil dividend, despite a moderate oil price recovery. The challenge to the current account following the drop in overseas investment income continues and will present a significant problem to the outlook for sterling over the medium term.
Our forecast is based on a "remain" referendum outcome! .
The Saturday Economist UK Economic Outlook December 2015John Ashcroft
The Saturday Economist, UK Economic Outlook December 2015 is out now. We have lowered our forecasts for growth in 2015 and 2016. Check out over twenty pages of analysis
The Saturday Economist Brexit Briefing, all the information needed to make an...John Ashcroft
The Saturday Economist on Brexit. All the information you need to make and informed decision. We analyse the arguments in to the business, economic, political and social. The political arguments relate to who governs Britain. The social argument largely dealing with immigration and implications for education, health care and welfare.
The economics case argues against Brexit, largely because of the uncertainty relating to the alternative options. Brexit will damage investment prospects in the short term (uncertainty) and in the long term (strategic). We consider that motor, aerospace and financial services industries are particularly at risk.
As for business ... there is no business case to support the "Brexit" argument. The level of uncertainty is too severe JKA
A detailed analysis of the prospects for the UK economy in 2012 from Geoff Riley at tutor2u. Among the key themes explored by Geoff are:
Are we already back in recession?
A damaging legacy from the slump
Have policies lost their effectiveness?
Macro fragility in a world of external shocks
Inspirational presentation from Nick Parsons,Head of Research, UK and Europe and Global Head FX Strategy | Wholesale Banking | National Australia Bank Limited
GM Chamber of Commerce, UK economic outlook March 2014John Ashcroft
Each quarter we upgrade our forecasts for the UK economy, on behalf of the Greater Manchester Chamber of Commerce.
Forecasts include world growth and world trade estimates. Down load the file here and don't forget to visit the Saturday Economist web site!
The saturday economist uk economic outlook september 2015John Ashcroft
The Saturday Economist, UK Economic Outlook, September 2015. Latest forecasts following ONS Second Estimate of GDP released at the end of August. We still forecast growth of 2.8% this year and into next despite the fears about China and sluggish growth in Europe.
Olivier Desbarres: Sterling: this lady's not for turningOlivier Desbarres
There are multiple factors behind Sterling’s collapse in the past fortnight to decade lows and the question remains whether these factors will reverse any time soon.
At the top of the pyramid of causes for Sterling’s demise, in my view, is not the UK’s large current account deficit or Bank of England (BoE) policy but the stance on EU membership which Prime Minister Theresa May has adopted.
So while Sterling’s greater competitiveness may eventually drive FX inflows into the UK and help Sterling to recover, financial markets and investors are likely to continue to take their cue from the British government near-term.
Simply put, if Theresa May continues down of the path of “Hard Brexit”, however ill-defined, Sterling is likely to remain under pressure.
However, history shows that while EU leaders have a tendency to drag their feet over key issues, they are able and willing to eventually find some kind of compromise.
Moreover, Theresa May will be subject to the will of her own Conservative Party – which on the whole supports membership of the UK or at least a softer form of exit from the EU – and of the people.
While the BoE would prefer a more stable currency and lower yields, there is probably little than it can (or should) do near-term beyond trying to reassure markets, investors and households.
The UK Quarterly Economics Outlook September 2014
The UK recovery continues into Q3. We expect growth of around 3.1% this year …investment will increase by 8%, construction by 5% and manufacturing by over 3.5%.
The trade figures will continue to disappoint. The current account deficit at over 5% of GDP may emerge as a serious constraint to growth …
In this September economics update we forecast growth of 3.1% in 2014 slowing to 2.8% next year. Inflation will remain slightly below target over the balance of the year. Unemployment will continue to fall, government borrowing will also fall, the service sector will lead the recovery as manufacturing and construction output also rise.
The saturday economist, uk economic outlook june 2015John Ashcroft
The Saturday Economist, UK Economic Outlook Q2 June 2015. In the UK we expect the economy to grow by 2.8% in 2015 following growth of 2.8% last year. In the US the recovery continues with growth of 2.9% expected in the year ahead.
The inflation outlook is much more benign, with the fall in world oil, energy, food and commodity prices continuing to dominate headline inflation.
The UK economy grew by just 2.4% in the first quarter, weakness in construction and manufacturing growth largely to blame. The service sector continues to drive growth. Check out our quarterly update from The Saturday Economist, now mailing to 50,000 businesses every week.
Revision Special Webinar on the UK Economy (May 2018)tutor2u
Eight years after the trough in output following the Global Financial Crisis, the UK economy is slowing down. Demand, output and jobs have been resilient in the two years since the June 2016 Brexit vote – the economy did not “fall off the cliff” as many feared. And the strength of the labour market has been a notable achievement for the Government. But there are now growing signs of a softening in growth in the UK even though the world economy is picking up quite strongly. How much further does the expansion in output have to go before risks of recession emerge once more. In 2018 Britain will be one of the slowest-growing, if not *the* slowest-growing economy in the G20.
What is the UK economic and property market outlook? A presentation I gave in Birmingham in June 2011 when I was Head of EMEA Research at Jones Lang LaSalle (now JLL).
The Saturday Economist, Latest GDP updates suggest UK will grow by 3% this year. Service sector, construction and investment will boost output. Interest rates will rise in Q4 2015 as US paves the way ...
This is a video recording of a live AS macro revision webinar that looked at some examples of external demand and supply-side shocks that can affect countries such as the UK. In the video I explained six key "shock absorbers" - ways in which a country might be better placed to cope with the impact of world demand, supply and financial shocks to their economic systems.
The European real estate outlook in the context of the current economic climate.
Preliminary figures show the euro zone lost some momentum in the first half of 2018, but GDP growth still remains solid at ~2%.
Tightening labour markets have not yet prompted strong wage growth. As inflation rises there is likely to be a squeeze on household income growth.
Although GDP growth rates vary greatly from one country to the next, overall, the economic backdrop as it pertains to the property markets is expected to remain healthy at least for next couple of years.
Similar to State of the UK Economy (November 2016) (20)
In this revision presentation we look at recent trends in UK trade union membership, consider how trade unions can affect both pay and employment and challenge the textbook view that union-negotiated pay increases inevitably have negative consequences for employment.
In this revision presentation we cover key examples of pure and quasi public goods and consider the arguments for and against an increase in government spending on public goods.
Poverty Reduction Policies in Low Income Countriestutor2u
This revision presentation covers some of the main causes of continued high levels of extreme poverty in low and middle income countries and considers a range of pro-poor government interventions designed to increase productivity and regular employment and waged income in formal labour markets.
Microeconomics - Great Applied Examples for Examstutor2u
In this presentation, I have chosen loads of current examples that you might want to use as context in your microeconomics exams. We look at examples from different market structures, recent mergers and takeovers, the world's most valuable companies, the largest employer, unicorn business, de-mergers, the biggest initial public offerings (IPOs) and much else. Hopefully a useful video to go through to add some super examples into your revision notes.
This revision presentation considers the variety of stakeholders impacted by business activity. How will a change in objectives, such as a move from profit maximisation to revenue maximisation have an effect on different stakeholders?
This revision presentation looks at profit satisficing as an alternative objective for businesses. Why might firms satisfice? What are some of the possible consequences for economic welfare and efficiency?
In this short revision video, we look at the substantial productivity gap between the UK and many of the UK’s major competitor countries.
Paul Krugman, the Nobel Prize-winning economist said twenty fives years ago that “Productivity isn’t everything, but in the long run it is almost everything,”
In this presentation we consider the theory of wage-setting with a monopsony employer and the possible impact that a trade union might have on wages and employment. We also look at efficiency wage theory and mutual gains from pay bargaining between stakeholders.
For many economists, the labour market is the most important market of all to study, analyse and evaluate. Like product markets for goods and services, labour markets can also fail. The main types of labour market failure are labour immobility including skills gaps, inequality, disincentives to be economically active, labour market discrimination and the effects of monopsony power of employers.
Updated revision presentation on aspects of behavioural economics and topical issues where behavioural nudges are being used to change the choices of consumers and businesses.
Using the data, explain two likely causes of the forecast of slower growth for the UK economy
Examine two difficulties facing economists when forecasting economic growth
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
3. Key Macro Objectives
Source: ONS
Price Stability (CPI Inflation
of 2%)
Growth of Real GDP
(National Output)
Falling Unemployment /
Raising Employment
Higher Average Living
Standards (national income
per capita)
Stable Balance of Payments
on the Current Account
An Equitable Distribution
of Income and Wealth
4. Key Macro Objectives (2)
Balancing the budget and
reducing the national debt
Improved economic
well-being
Better regional balance
in the UK economy
Improved access to &
quality of public
services
Improved global
competitiveness
Environmental
sustainability
5. Black Swan events are more frequent than standard economic models assume
6. Top ten global economic risks 2016, according to
the Economist Intelligence Unit
20
16
16
15
15
12
12
8
8
4
0 5 10 15 20 25
China experiences a hard landing
Russia's interventions in Ukraine and Syria precede a
new "cold war"
Currency volatility culminates in an emerging markets
corporate debt crisis
"Grexit" is followed by a euro zone break-up
Beset by external and internal pressures, the EU begins
to fracture
The rising threat of jihadi terrorism destabilizes the
global economy
Donald Trump wins the U.S. presidential election
The UK votes to leave the EU
Chinese expansionism prompts a clash of arms in the
South China Sea
A collapse in investment in the oil sector prompts a
future oil price shock
Risk rank
Source: EIU
7. Share of global regions in the gross domestic
product (adjusted for purchasing power) in 2016
58.06%
41.94%
16.71%
8.04% 7.6% 6.72%
3.09%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
Emerging
market and
developing
economies
Advanced
economies
EU Latin
America /
Caribbean
Middle East,
North Africa,
Afghanistan,
and Pakistan
Middle East
and North
Africa
Africa Sub-
Sahara
ShareinglobalGDP
Source: IMF
8. Changes in key UK macro variables
Source: ONS
Growth in key economy variables from 2010 Q1 to 2016 Q1
(Source, OBR, ONS, IMF)
Per cent change (+/-)
Gross domestic product (GDP) 13
Household consumption 11
General government consumption 8
Fixed investment 22
Exports of goods and services 22
Imports of goods and services 22
Consumer price index (CPI) 13
Employment 9
Productivity per hour 2.5
Average earnings 10.5
Unemployment -33
Real household disposable income 7
House prices 22
10. Ian Stewart, Chief Economist
(Deloitte)
•“The path to leaving the
EU will be messy and
complex, but the starting
point is an economy
which is in decent shape,
rated in international
league tables as one of
the world’s most
competitive.”
11. Sterling depreciates in wake of Brexit vote
1.1
1.2
1.3
June20
June21
June22
June23
June24
June27
June28
June29
June30
July1
July4
July5
July6
July7
July8
July11
July12
July13
July14
July15
July18
July19
July20
July21
July22
July25
Exchangerate
Sterling against the Euro (£1 = Euro), monthly average
Source: ONS
12. Fall in sterling helps to explain the strong
performance of equity indices post June 23rd
Source: BoE
13. How the World has changed since 2010
Source: ONS
Per cent
25.3
36 35.3
0
5
10
15
20
25
30
35
40
World GDP World trade UK export markets
Growth of world economy variables since 2010Q1
14.
15. Where are we in the UK Economic Cycle?
Source: ONS
350
370
390
410
430
450
470
490
Q12003
Q32003
Q12004
Q32004
Q12005
Q32005
Q12006
Q32006
Q12007
Q32007
Q12008
Q32008
Q12009
Q32009
Q12010
Q32010
Q12011
Q32011
Q12012
Q32012
Q12013
Q32013
Q12014
Q32014
Q12015
Q32015
Q12016
Q32016
GDP at constant prices (£billion, per quarter)
GDP (£billion)
18. Growth Rates of Components of UK Aggregate Demand
before, during and after the global downturn
0.7 0.7 0.7
0.9
1.1
0.7
-0.8
0.4
-3.3
-1.5
-2.1
-1.1
0.4
0.3
0.8 0.8
1.0
0.5
-3.5
-3.0
-2.5
-2.0
-1.5
-1.0
-0.5
0.0
0.5
1.0
1.5
Consumption Government
consumption
Gross
Investment
Exports Imports Real GDP
Components of UK Aggregate Demand, quarterly % growth rates
Pre-downturn Downturn Post-downturn
Source: ONS
19. -6.0
-5.0
-4.0
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
4.0
2008 Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015 Q3
November 2015 central
estimate
Highest forecast
Lowest forecast
Negative output gap –
i.e. the economy has
margin of spare capacity
Positive output gap – i.e.
where actual GDP is
above potential GDP – a
sign of excess aggregate
demand
Estimated Output Gap for the UK Economy
Source: Bank of England
20. BoE GDP projection based on market interest rate
expectations (November 2016 Inflation Report)
Source: BoE
21. Growth of GDP per head has lagged
85
90
95
100
105
110
Q12006
Q22006
Q32006
Q42006
Q12007
Q22007
Q32007
Q42007
Q12008
Q22008
Q32008
Q42008
Q12009
Q22009
Q32009
Q42009
Q12010
Q22010
Q32010
Q42010
Q12011
Q22011
Q32011
Q42011
Q12012
Q22012
Q32012
Q42012
Q12013
Q22013
Q32013
Q42013
Q12014
Q22014
Q32014
Q42014
Q12015
Q22015
Q32015
Q42015
Q12016
Q22016
Quarterly growth of Real GDP and Real GDP per head for the UK,
indexed from Quarter 1 (Jan to Mar) 2008 = 100
Real GDP GDP Per Head
Source: ONS
24. 80.0
85.0
90.0
95.0
100.0
105.0
110.0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Index of Constant price GDP per hour worked, 2007 = 100
UK G7 exc UK
Productivity Gap: Real output per person employed
in the UK and G7 (excluding the UK)
Source: OECD
25. Productivity Gap: Constant price GDP per hour
worked for G7 countries, 2000 to 2015
85
90
95
100
105
110
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Constant price GDP per hour worked for G7 countries, 2000 to 2015
Canada France Germany Italy Japan UK USA
Source: IMF
26.
27. CPI 12-month inflation rate for the last 10 years:
September 2006 to September 2016
Source: ONS
-1
0
1
2
3
4
5
6
Oct-06
Mar-07
Aug-07
Jan-08
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Jan-13
Jun-13
Nov-13
Apr-14
Sep-14
Feb-15
Jul-15
Dec-15
May-16
Oct-16
Annual % Rate of Consumer Price Inflation in the UK Economy
Bank of England Governor Mark Carney has said the Bank will
tolerate a small overshoot of its 2.0% inflation goal to prevent
a sharp rise in UK unemployment
28. BoE: CPI inflation projection based on market
interest rate expectations
Source: BoE
29. Contributions to CPI inflation in the UK
Inflationary impulses:
1. Falling £ - makes imports
more expensive
2. Jump in prices of
commodities such as
gas, copper and cocoa
3. Corporate profit margins
have recovered – price
rises to protect them
(consider marmite!)
4. Deflationary factors of
2015 now un-winding
Source: BoE
32. UK Unemployment (Long Run Perspective)
0
2
4
6
8
10
12
14
Jan-Mar1971
May-Jul1972
Sep-Nov1973
Jan-Mar1975
May-Jul1976
Sep-Nov1977
Jan-Mar1979
May-Jul1980
Sep-Nov1981
Jan-Mar1983
May-Jul1984
Sep-Nov1985
Jan-Mar1987
May-Jul1988
Sep-Nov1989
Jan-Mar1991
May-Jul1992
Sep-Nov1993
Jan-Mar1995
May-Jul1996
Sep-Nov1997
Jan-Mar1999
May-Jul2000
Sep-Nov2001
Jan-Mar2003
May-Jul2004
Sep-Nov2005
Jan-Mar2007
May-Jul2008
Sep-Nov2009
Jan-Mar2011
May-Jul2012
Sep-Nov2013
Jan-Mar2015
May-Jul2016
Unemployment Rate (LFS measure, per cent of the labour force, seasonally adjusted)
Unemployment currently at 4.8%, the lowest rate for ten years
Source: ONS
33. UK unemployment rates by region, seasonally
adjusted, June to August 2016
3.7
3.9
4.2
4.3
4.5
4.6
4.9
5.1
5.5
5.9
5.9
6.1
6.8
0 1 2 3 4 5 6 7 8
South East
East
South West
Wales
East Midlands
Scotland
UK
North West
Northern Ireland
Yorkshire and The Humber
West Midlands
London
North East
Labour Force Survey Unemployment Rate (% of labour force, June-Aug 2016)
Source: ONS
36. 500
1,000
1,500
2,000
2,500
3,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Over 24 months
12-24 months
6-12 months
Less than 6 months
Total unemployment, seasonally adjusted
In the last few years
there has been a
welcome fall in the
level of
unemployment
One of the big
challenges for the
UK is to make more
progress in reducing
long-term structural
unemployment
Duration of LFS Unemployment in the UK economy
Source: ONS
37. 0.0
0.5
1.0
1.5
2.0
2.5
3.0
0
100
200
300
400
500
600
700
800
900
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Zero Hours Contracts do not guarantee a minimum number of
working hours each week
In employment on a zero hours contract (thousands)
Percentage of people in employment on a zero hours contract
• People on “zero-hours contracts” are more
likely to be young, part time, women, or in
full-time education when compared with
other people in employment.
• On average, someone on a “zero-hours
contract” usually works 26 hours a week
Total
(thousands)
% of people
in work
The Rise of Zero Hours Contracts in the UK
Source: ONS
38. Non-UK nationals working in the UK labour market
0
500
1000
1500
2000
2500
Apr-Jun1997
Oct-Dec1997
Apr-Jun1998
Oct-Dec1998
Apr-Jun1999
Oct-Dec1999
Apr-Jun2000
Oct-Dec2000
Apr-Jun2001
Oct-Dec2001
Apr-Jun2002
Oct-Dec2002
Apr-Jun2003
Oct-Dec2003
Apr-Jun2004
Oct-Dec2004
Apr-Jun2005
Oct-Dec2005
Apr-Jun2006
Oct-Dec2006
Apr-Jun2007
Oct-Dec2007
Apr-Jun2008
Oct-Dec2008
Apr-Jun2009
Oct-Dec2009
Apr-Jun2010
Oct-Dec2010
Apr-Jun2011
Oct-Dec2011
Apr-Jun2012
Oct-Dec2012
Apr-Jun2013
Oct-Dec2013
Apr-Jun2014
Oct-Dec2014
Apr-Jun2015
Oct-Dec2015
Apr-Jun2016
Non-UK nationals working in the UK, thousands, data is not
seasonally adjusted, source: Labour Force Survey
Total EU nationals Total non-EU nationals
Source: ONS
44. 0
5,000
10,000
15,000
20,000
25,000
30,000
0
1
2
3
4
5
6
7
Real Median Disposable Income and Income Inequality in the UK
Real median equivalised disposable income (RHS) S80/S20 Ratio (LHS) Source: ONS
Income inequality using the S80/S20 ratio seems to have gradually fallen since 2000
but real median disposable income in the UK has stagnated since 2007
S80/S20 ratio £s at constant
2014 prices
S80/S20 ratio of the
total disposable
income of the
richest fifth of the
population to that of
the poorest fifth of
the population
Median Disposable Income and Inequality
47. Gross government debt as a percentage of GDP in
the UK from 2000/2001 to 2015/2016
35.4% 34% 34.1% 35.7%
38.3% 39.5% 40.3% 41.2%
53.1%
70.3%
76.3%
82.6%
84.4%
86.5% 87.4% 87.8%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16
PercentageofGDP
The UK government (public)
debt is equal to £1.7 trillion
and this year, despite a lower
fiscal deficit, it is increasing
at a rate of £5,170 per
second.
Source: ONS
49. Central government debt interest expenditure in
the UK from 2011/2012 to 2015/2016 (£ million)
44,476
40,354 39,703
36,473 36,724
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
50000
2011/12 2012/13 2013/14 2014/15 2015/16
Expenditureinmillion£
Source: OBR
50.
51. -8
-6
-4
-2
0
2
4
6
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Trade Balances for Goods and Services (% of GDP)
Goods balance Services balance Balance in goods and services
UK Trade Balance in Goods and Services (% of GDP)
Source: ONS
52. UK Trade Balances By Sector (% of GDP)
-10.0
-8.0
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
1998Q1
1998Q4
1999Q3
2000Q2
2001Q1
2001Q4
2002Q3
2003Q2
2004Q1
2004Q4
2005Q3
2006Q2
2007Q1
2007Q4
2008Q3
2009Q2
2010Q1
2010Q4
2011Q3
2012Q2
2013Q1
2013Q4
2014Q3
2015Q2
2016Q1
UK Trade Balances by Sector, % of GDP, Source: ONS
Financial services Other services Goods Trade balance
Source: ONS
53. UK Current Account Components (% of GDP)
-16.0
-14.0
-12.0
-10.0
-8.0
-6.0
-4.0
-2.0
0.0
2.0
4.0
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
Components of the UK Current Account of the Balance of Payments,
(quarterly data, % of GDP)
Trade balance Primary income Secondary income Current account balance
Source: Bank of England
54. Sterling Exchange Rate (as an index number)
70.0
75.0
80.0
85.0
90.0
95.0
100.0
105.0
110.0
115.0
120.0
02Jan14
02Feb14
02Mar14
02Apr14
02May14
02Jun14
02Jul14
02Aug14
02Sep14
02Oct14
02Nov14
02Dec14
02Jan15
02Feb15
02Mar15
02Apr15
02May15
02Jun15
02Jul15
02Aug15
02Sep15
02Oct15
02Nov15
02Dec15
02Jan16
02Feb16
02Mar16
02Apr16
02May16
02Jun16
02Jul16
02Aug16
02Sep16
02Oct16
UK Exchange Rate Indices, 2nd Jan 2014 = 100
Sterling ERI €/£ $/£
Source: Bank of England
55. How globally competitive is the UK?
Source: ONS
Indicator UK ranking out of 138 countries
Overall global
competitiveness
7th/138
Institutions
14th / 138
Investor protection 4th / 138
Infrastructure
9th / 138
Roads 27th, Mobile infrastructure 56th
Macroeconomic
environment
85th /138 (mainly due to high debt)
Labour market
efficiency
5th /138
Female lab market participation 58th
Science & Maths education 38th
Technological
readiness
3rd /144
Mobile broadband 34th
Highlighted problems for businesses
• Access to finance for business
• Skills gaps in the workforce
Source: World Economic Forum
56. Expenditure by UK businesses on performing R&D in
current prices, by largest product groups, 2008 to 2015
Source: ONS
57. Domestic and overseas business R&D in UK
Source: ONS
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
Ownership of businesses who perform R&D in the UK, 1993 to 2015
UK Rest of the World
58. Overview
• Post-Brexit impact yet to fully materialize in the macro data
• Inflation is back with rising commodity prices and a weaker
currency since June 2016
• Labour market performance remains strong
• But scale of UK current account deficit is a problem
• Structural weaknesses on the UK supply-side are unlikely to
be resolved soon despite renewed focus on infrastructure
and industrial policy in the new May/Hammond government
• Productivity and skills gaps hurt UK competitiveness
• Risk is that Brexit will lower the UK’s trend growth rate if the
economy is not “match-fit” post 2019
• Lots of external uncertainties as we head into 2017