The UK #economy grew by 0.8% or £20bn in 2024. More than £20bn came from business services and the quasi public sector, with consumer services broadly flat, and a negative contribution from production and utilities. #dataisbeautiful

@Frencheconomics Indeed. US grew 4x as far as UK in 2024. The sectoral breakdown in chart and video below suggests it’s not just a tech story.

Some people are arguing that the #BoE should have cut #interest rates even more, even though #inflation is expected to stay above the 2% target for the whole of 2025. Why? Mortgage rates are a case in point: it takes a long time for Bank rate changes to show up. #dataisbeautiful

At 2.8%, the US #economy grew 4x as fast in 2024 as the UK. But it's not all about the #tech sector. Big contributions also from retail of motor vehicles, health care, public admin, profesional services, chemicals and pharma. #dataisbeautiful

The #BoE rate is expected to come down by quite a lot in 2025, despite inflation expectations above the Bank's target. What's interesting in this (very pretty "sea creature") chart is how high the rate is expected to stay (3.7%+) in the longer-term. #dataisbeautiful

Sectors such as aerospace and chemicals will see a compounding effect from #tariffs. Around 50% of US imports are not final products but intermediary inputs into US manufacturing, and 14% of those are re-exported as part of global supply chains. #dataisbeautiful

As we wrap up the #NationalProductivityWeek, let's look at sectoral performance. Some sectors, especially ICT, grew much faster than the national average 0.7% p.a.; but many had their output per hour decline substantially. Food for thought for #industrial #strategy. #dataisbeautiful

Great that the #NationalProductivityWeek has coincided with the Chancellor's speech about UK growth. This chart highlights the heavy lift that will be required. Post-COVID (Q1 2022 - Q3 2024) productivity growth has been negative at -0.2%. #dataisbeautiful

RT @TPIProductivity: Interested in productivity insights from C-Suite leaders? Join The Productivity Institute, @CIMA_News, @CIPD and @Conf…

RT @TPIProductivity: 🚀 National Productivity Week has begun! All throughout this week, TPI and its partners will be hosting events about ho…

#RTO and #WFH policies (not to mention transport policies) likely have a very differential impact on women vs. men. Women's commutes tend to be shorter, but for the same length of commute, women are much more likely to work from home. #dataisbeautiful

The UK labour market continues to cool across the board (and the labour market #dragon chart is back!) Unemployment up to 4.4%, vacancies down to 812k, number of unemployed per vacancy now at 1.9 (up from 1.0 in 2022). #dataisbeautiful

So, no immediate #tariffs announced yet. That doesn't mean no impact: global economic uncertainty has surged since the US election. If this leads to delays in #investment, it could also slow down #productivity growth. #dataisbeautiful

RT @BennettInst: 📢During National Productivity Week, on 31 January join us for two events showcasing our research: 08:30—Unlocking Producti…

You may agree or disagree with the specific examples here, but I for one agree that the enormous complexity that is a result of the need to “be seen to be doing something” is damaging to the very outcomes we seek. Gvt decisions should be subject to minimum materiality criteria.

@Starcourse Irrelevant. Any int’l comparisons should focus on outcomes (e.g. life satisfaction, healthy life years, PPP adjusted GDP per capita), unless part of an analysis of WHY those metrics are not as good as they should be. The metrics that matter are not changed in a quarter of two.

With #energy prices globally rising again and #sterling weakening against the dollar, the BoE will have to start worrying about imported #inflation again. Focus on inflation will shift back, at least partly, from services to goods. #dataisbeautiful

RT @Gus_ODonnell: How do you have a children’s wellbeing bill without any attempt to measure their wellbeing across the country? There is a…

There’s much to like about this piece by the PM. The ambition is right. But to actually make money from AI, surely it’s critical the products/services are sold globally?