In the context of a global
economic outlook that has darkened a little in recent months, it's a
steady kind of a figure. Slower than the 0.7% growth rate in the
previous period, but not by all that much.
There were some
marked differences between sectors. Service industries grew quite
strongly, while manufacturing and construction slipped back. For
manufacturing it was the third consecutive decline.
Over a
slightly longer period, there is certainly a good story to be told
about the British economy. There is quite decent growth, low
unemployment and low inflation.
But there is another side.
Inflation is actually too low, average incomes are barely up to
pre-crisis levels and there is a persistent problem of feeble
improvements in productivity. The number of people with jobs is at an
all-time high of more than 31 million. About 74% of the population aged
16 to 24 are employed. Several European countries can beat that,
including Germany, but it's higher than the figure for the United States
The
other side of that equation is that unemployment in the UK is low at
5.4% of the labour workforce. That means people who want to work and
have made an effort to find work. (That's why changes in employment
don't necessarily translate into unemployment changes because people
start or stop looking for work and so drop in or out of the labour
force.)
The unemployment figures are even lower for
Germany, Japan and the United States, but the British rate compares well
with many other advanced economies, including France, Italy and Canada.
FxEmpire
provides in-depth analysis for each currency and commodity we review.
Fundamental analysis is provided in three components. We provide a
detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Upcoming Economic Events that you should be monitoring:
Wednesday, October 28, 2015
| Cur. | Event | Actual | Forecast | Previous | |||
| USD | API Weekly Crude Oil Stock | | | 7.100M | | ||
| JPY | Retail Sales (YoY) (Sep) | | 0.4% | 0.8% | | ||
| AUD | CPI (YoY) (Q3) | | 1.7% | 1.5% | | ||
| AUD | CPI (QoQ) (Q3) | | 0.6% | 0.7% | | ||
| AUD | Trimmed Mean CPI (QoQ) (Q3) | | 0.5% | 0.6% | | ||
| EUR | GfK German Consumer Climate (Nov) | | 9.4 | 9.6 | | ||
| USD | Goods Trade Balance (Sep) | | -64.90B | -67.19B | | ||
| USD | Crude Oil Inventories | | | 8.028M | | ||
| USD | FOMC Statement | | | | | ||
| USD | Fed Interest Rate Decision | | 0.25% | 0.25% |
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