Economic Indicators, October 2011

Latest labour market statistics have shown declines in employment and rising unemployment over the summer. It is too early to say whether this marks the beginning of a sustained deterioration in the jobs market, although weak economic data have heightened such fears. For instance, leading indicators of the UK economy compiled by the European Commission and OECD in recent months suggest weakening prospects for growth. In addition, slowing international economic activity and the uncertainty of the euro zone sovereign debt crisis are additional risks to the outlook.