Economic Indicators, February 2011

This Research Paper series summarises the main economic indicators currently available for the UK, along with comparisons with other major OECD countries.
The 0.5% contraction in GDP in Q4 2010 surprised most economists who had predicted modest growth. The ONS blamed the impact of December’s weather for some, but not all, of the weakness. This together with other recent economic data – particularly increasing unemployment, rising inflation and falling consumer confidence – further amplify the uncertainty about the economy in 2011.
[Articles:’GDP growth: It was the weather – wasn’t it?’ and ‘Working out work – what’s happening in the labour market?’]