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Economy News
Here are the latest news and releases from the Economy Module, including  South West data alerts, information and economic analysis.  You can also find news from the South West Observatory and the wider Observatory network. On the right-hand side of this page there are links to national economic news.

 

 

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  • UK GDP contracts by 0.2% in the fourth quarter of 2011
    GDP contracted by 0.2 per cent in the fourth quarter of 2011, driven by weakness in the production sector. Growth in the construction sector was slightly negative and was flat in the service sector, so these two sectors made no contribution to GDP growth in the fourth quarter. Comparing GDP to the same quarter in 2010, output expanded by 0.8 percentage points. And in 2011 as a whole, GDP grew by 0.9 per cent compared to 2.1 per cent during 2010. So the economy has showed subdued growth during 2011. Despite the contraction in output in the fourth quarter, employment rose by 26,000 in the three months to November, compared to a year ago. However, this is a relatively modest increase in employment, and with the economically active population continuing to rise, the unemployment level and rate has risen quite sharply in the three months to November. After remaining steady in the 7.7-8.0 per cent range throughout the two years between mid-2009 to mid-2011,... 25/01/2012
  • SWO Responds to ONS Wellbeing Consultation
    SWO has today responded to the current ONS consultation on measuring national wellbeing. This consultation by the ONS is looking at proposed domains and measures for measuring national wellbeing. Click on the icon below to read SWO's response. 23/01/2012
  • Index of Production - November 2011
    According to today's ONS Index of Production (November 2011), the seasonally adjusted Index of Production fell by 3.1 per cent in November 2011 compared with November 2010. The seasonally adjusted Index of Manufacturing fell by 0.6 per cent in November 2011 compared with November 2010. The seasonally adjusted Index of Production fell by 0.6 per cent between October 2011 and November 2011. The seasonally adjusted Index of Manufacturing fell by 0.2 per cent between October 2011 and November 2011. 12/01/2012
  • ONS Labour Market Release - December 2011
    Watch this short video from the ONS covering the labour market estimates for July to September 2011. This shows the quarterly changes in employment, unemployment and inactivity as well as the monthly change in the claimant count. It then focuses on changes in public and private sector employment and how much public sector employment has fallen since its peak in 2009. Finally it shows average earnings growth comparing the whole economy and the public and private sectors back to 2001. For all ONS podcasts follow the link below. 14/12/2011
  • New LEP Summaries - Skills and Learning Module
    The Skills and Learning Module (SLIM) has recently made available via its website Local Enterprise Partnerships (LEP) summaries for the South West. This webpage also contains local Employment and Skills Boards (ESBs) information for the South West. To access the series of individually tailored LEP and ESB reports click on the link below. 13/12/2011
  • House Price Index - October 2011
    From the DCLG website - Click on the link to access to the full article and related resources. The latest UK house price index statistics produced by the Department for Communities and Local Government were released on Tuesday 13 December 2011. The latest statistics release includes data based on mortgage completions during the month of October 2011. The key points from the release are: > In October UK house prices decreased by 0.4 per cent over the year and increased by 0.6 per cent over the month (seasonally adjusted). > The average mix-adjusted UK house price was £205,974 (not seasonally adjusted). > Average house prices increased by 0.6 per cent over the quarter to October, compared to a decrease of 0.6 per cent over the quarter to July (seasonally adjusted). > Average prices decreased during the year in all UK countries; England (-0.2 per cent), Wales (-0.5 per cent), Scotland (-1.5 per cent) and Northern Ireland (-12.1 per cent). > Prices paid by first time... 14/12/2011
  • Housing Market Bulletin
    The Monthly HCA Housing Market Bulletin provides the latest information on the housing market, the economy and the housebuilding industry. The information is drawn from several different sources. It includes: > House price changes from the top house price indices including Nationwide, Halifax, the Land Registry and Royal Institute of Chartered Surveyors (RICS) > Housing market forecasts > Housing starts and completions as reported by the Department for Communities and Local Government and updates on key house builders > Mortgage trends and overall economy information 09/12/2011
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