UK Economic Indicators and Trends

The video provides an in-depth analysis of the UK economy, focusing on key statistics and trends for 2024. It covers economic growth, unemployment, inflation, trade, government finances, and interest rates. The video emphasizes the importance of understanding these topics for macroeconomics exams and offers insights into the challenges and opportunities facing the UK economy.

Why is it important to understand the UK economy for macroeconomics exams?

• To predict future stock market trends

• To score higher marks in essays

• To understand global economic policies

• To become a financial advisor

What was the UK's annual growth rate in 2023?

• 2.0%

• 0.5%

• 1.0%

• 0.1%

What is the current unemployment rate in the UK?

• 6.1%

• 5.0%

• 4.2%

• 3.5%

What is the current rate of CPI inflation in the UK?

• 5.6%

• 4.5%

• 3.2%

• 2.0%

What is the current rate of wage growth in the UK?

• 6.5%

• 3.2%

• 5.6%

• 4.0%

What is the size of the UK's current account deficit as a percentage of GDP?

• 4.5%

• 2.0%

• 5.0%

• 3.2%

What is one of the main reasons for the UK's poor export competitiveness?

• Strong labor force

• High productivity

• High minimum wages

• Low business investment

What is the UK's current budget deficit as a percentage of GDP?

• 2.5%

• 5.0%

• 3.0%

• 4.2%

What is the current national debt of the UK as a percentage of GDP?

• 80%

• 90%

• 98%

• 100%

What is the current Bank of England base rate?

• 5.25%

• 4.25%

• 3.25%

• 6.25%