Monday, April 19, 2010

Big Week!

My apologies for a 10-day delay in new posts - but of course, you were all fervently revising anyway weren't you?

Now you've revised 101b, you have all the key economic concepts under your grasp ahead of a big week for the politicians in the run up to the election on May 6.

After the positive news from the National Institute of Economic and Social Research (very influential think tank) suggesting growth would be 0.4% in the first three months of 2010 (2010Q1), Ernst & Young's Item Club has suggested that growth will be sluggish - under 1% for the whole year. This is likely a different spin on the same news. 0.4% each quarter of 2010 would mean, roughly speaking, growth of around 1% a year (because the 0.4% each quarter is calculated on the previous year so it's hard to calculate exactly based on the quarterly figures).

But this BBC news article reporting the bad news from Ernst and Young points out that most days this week there will be some new economic data released: Thursday is public finances (expect Cameron to harp on again about debt then), and Friday is GDP in 2010Q1. Should be fun...

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