Macro Figures

Question 1

Inflation rate

Answer 1

3.2% in March

Down from 3.4% in Feb

Recent peak 11.1% in Oct 22

Question 2

Interest rates

Answer 2

5.25% since Aug 23

Question 3

Economic growth

Answer 3

UK economy grew by 0.6% in Q1 of 2024

Mild technical recession in Q3 + Q4 of 2023

Question 4

Unemployment

Answer 4

4.2% in Apr 23 (1.4m people)

Question 5

National Living Wage

Answer 5

£11.44 from £10.42

Affects 3m workers

Question 6

Budget position

Answer 6

£120.7bn deficit for 2023/24

£25.5bn deficit for 2018-19 (pre-pandemic)

Question 7

Trade balance

Answer 7

Trade deficit of £53bn in 2023

UK is the 4th largest exporter by value

Question 8

Poverty and Population

Answer 8

Nearly 1m UK pensioners live in deprivation

11m households have no rainy day savings of at least £1k

12m people in absolute poverty in the UK

Population: 68m in 28.2m households

Question 9

Where is productivity currently in the UK?

Answer 9

Productivity is 25% below it’s pre-financial crisis trend