Economics Statistics Flashcards

1
Q

Annual Economic Growth Rate

A

4.1%

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2
Q

Forecasted Economic Growth Rate

A

-0.1%

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3
Q

Output Gap

A

-1.6%

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4
Q

GDP/capita

A

£33,000

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5
Q

Total GDP

A

£2.4 trillion

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6
Q

Unemployment rate

A

3.7%

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7
Q

Employment rate

A

75.8%

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8
Q

Wage Growth

A

6.6%

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9
Q

Job Vacancies

A

Record high but falling

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10
Q

Consumer confidence

A

Very low

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11
Q

Inflation rate

A

10.1%

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12
Q

Food price inflation

A

19.1%

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13
Q

Current account deficit

A

3.8% of GDP

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14
Q

Productivity + Investment

A

Lowest out of the G7 apart from Japan

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15
Q

Exchange rate : dollar

A

£1 : $1.24

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16
Q

Minimum Wage

A

$10.42 / hour

17
Q

Budget deficit

A

6.1% GDP

18
Q

National debt

A

100.2% GDP

19
Q

Bond yields

A

3.5%

20
Q

income Tax bands

A

0% to 12570
20%
40%
45%

21
Q

Corporation Tax

A

25% (which is an increase from 19%)

22
Q

VAT

A

20%

23
Q

Gini Coefficient

A

0.343

24
Q

Bank of England Base Rate

A

4.50%

25
Q

Average lending rate 30 year mortgage

A

7%

26
Q

Savings ratio

A

9.3%

27
Q

3 Largest taxes for UK

A

Income Tax - £250bn
National Insurance Contributions - £180bn
VAT - £160bn

28
Q

Forecasted Inflation Rate UK 2023

A

6.1%

29
Q

UK inflation rate goal

A

2%

30
Q

Gender Pay Gap

A

8.3%

31
Q

Income gap North and South East

A

£4900

32
Q

Relative Poverty UK

A

20%

33
Q

Wealth distribution UK

A

Top 10% hold 43%
Bottom 50% hold 9%