Is The Uk Economy In A Worse Position Now Than It Was Twelve Months Ago?

622 words - 2 pages

There are a few factors that have to be taken into consideration when assessing how well an economy is doing. These factors are called economic indicators. The economic indicators that I shall be using to gauge how well the UK's economy is faring are inflation (both RPI and CPI), unemployment rates, balance of payments and economic growth.I shall begin by evaluating inflation. RPI Inflation in July 2004 was 3%, whereas in July 2005, it was 2.4%. The upward effect came from a 2005 rise in petrol/crude oil prices compared to the drop in prices in the previous year. Furniture also provided an upward effect, as did increased charges on many banking services. However, there were some additional downward effects from housing components that were not included in the CPI. CPI Inflation in July 2004 was 1.4%, whereas in July 2005, it was 2.2%. The upward effects were similar to those for RPI. The CPI inflation rate is just about average for the rest of the EU, the average being 2%. However, despite RPI inflation decreasing by 0.1%, the CPI inflation increased by 0.8%, which suggests that the UK economy is in a worse position now than it was twelve months prior. This is because, the higher the inflation rate, the higher the price of goods. These high prices cause other nations to go to other countries to import goods from which can cause a recession.The next economic indicator that I shall be using is unemployment rates. In the second quarter of 2004, the working age employment rate was 74.6% compared to the second quarter of 2005, which had a working age employment rate of 74.4%, 0.2% lower than the previous year's rate. The unemployment rate in the second quarter of 2004 was 4.8%. However, in the second quarter of 2005, that had dropped 0.1%...

Find Another Essay On Is the UK Economy in a Worse Position Now Than it was Twelve Months Ago?

Now is the time to legalise cannabis in the UK

1257 words - 5 pages Now is the time to legalise Cannabis in the ukIn July of last year the debate on whether cannabis should be legalised was rekindled by the Home Secretary, David Blunkett. He announced the reclassification of cannabis from a class B drug to a class C which is the lowest classification for an illegal drug and puts it on par with anti-depressants and steroids.The chronology of cannabis is thought to go back to 2737 BC where it was referred to as a

Peer Pressure: Why It Is Worse Than Ever

1662 words - 7 pages cannot control. Unless you move to a deserted island, you will always have peers. Peers have always been around, but to what extent? We will explore a little bit of how youth today are impacted by their peers, and compare it to how the youth of 50 years ago were impacted by their peers. Is there a difference? Or was one generation more influenced by their peers than the other? These are questions that will be answered by the end of this paper

Medical Marijuana: Is It Really Worse than Other Legal Drugs?

1258 words - 6 pages Medical Marijuana is a topic of much debate within the medical community as well as the state and national government policy makers. Even in most social circles, varying opinions on the subject can be found. The real question is what is the medical merit and is it really worse than smoking cigarettes or alcohol? I plan to educate those who read this on the history, medical use, and merits of legalization. History Medical marijuana has had a

This is a essay that was written a few years ago about the pros and cons of going into computer technology as a major in college

2020 words - 8 pages (personal interview, 4 April 1997). To go on, the company has a team of managers and a team of coaches which confide in each other. Mr. Buck is also moving from his current computer service technician position, to a new position at Hewlett-Packard. His new title will be computer-aided design technician, a more advanced computer process program. (COCIS Job Code 003362010). This new position was found by Mr. Buck by accessing the Hewlett-Packard

The Position of ‘Joint Ventures’ in a Developing Economy

1186 words - 5 pages of 1956. However, for the restricted purposes of foreign direct investment, JV implies an Indian entity incorporated in accordance with the laws and regulations of India in whose assets a non-resident entity makes an investment. The foremost objective of this paper is to deliberate the position of ‘Joint Ventures’ in a developing economy such as India, and side-by-side discuss the lessons that India can learn from the European Union’s dealing

“O, Romeo, Romeo! wherefore art thou Romeo?”: Is love the same as it was over 400 years ago?

2651 words - 11 pages , either by choosing a side to be with or by the men going off to war and the women evacuating from certain areas throughout the war (Brewer et al.). Soon after the war had ended, love had changed again. This time, however, it was not for the better. It was actually for the worse. In 1898 the definition of Romance was “A tale in prose or verse; the incidents of which one are hung upon what is marvelous and fictitious” (Brewer “Love”). Love and

The title is "The Cold War" This essay is a thesis on how the Cold War was in fact a much more heated war than it was made out to be

2608 words - 10 pages and 3,000 UN troops were killed, and another 103,000 US and 11,000 UN troops were injured. It is estimated that the Koreans and Chinese suffered over one million casualties. This war had many other impacts on the Cold War and the world at large than just casualties: The US defense budget increased from $14 billion in 1951 to $54 billion in 1953 (Warren 78). The Soviet Union failed to communize all of Korea, which was a setback for them and a

Tax as a Means of Control and Stimulator of the Economy in the Uk. Is it a Good Idea to Fluctuate the Tax Rates for Stabilizing the Economy? Is Tax Necessary for a Country’s Growth? Is Green Tax ...

9199 words - 37 pages is historical and the collectors of tax have been using this system to control the economy of citizens as well as the country they ruled. In more recent time, the government impose tax to those citizens only who are required to pay tax by law. Unlike past times when tax was charged on the goods that the peasants used to cultivate, now it is only charged financially and direct taxes are charged to only those people who have certain limits of income

Discuss the status of women in Africa, past and present. Is it getting better or worse

511 words - 2 pages the man's job to support the family and the woman's place is at home taking care of the family and the household. This is reflected in the business world where women barely account for more than one or two per cent of the top executive positions. In most cases, for an African woman to get a job the woman has to do more than just submit a resume to an employer. The woman has to have a way in. That way in is to either know someone, have a relative

What is popular culture and why is it such a big part of life in the UK?

1233 words - 5 pages Popular culture, as an indispensable part of people's life, is becoming an increasingly concerned topic. However, the situation is quite different long time ago. For a long period of time, popular culture was regarded as relatively low one, which was for the poor to enjoy themselves. Since popular culture grew rapidly especially in the 1900s, more and more people began to accept and spread it. Popular culture includes almost every aspect in

Australia was a better place in which to live for women in 1945 than it was in 1900.' Discuss this statement with reference to the status of women

1752 words - 7 pages It is evident that overall Australia was a better place to live for women in 1945 than it was in 1900. Throughout our history white settlement in Australia has influenced the role of women within society up until the beginning of the 20th Century. "During the convict period men out numbered women four to one," although the Australian convict period dates back to the 1800's, the fact that women were out numbered to men greatly impacted their

Similar Essays

Is Teenage Behavior Better Or W Orse Than It Was Years Ago?

1442 words - 6 pages Is teenage behavior better or worse than it was years ago? Almost everyone in the general public has studied the change in teenager behavior today compared to their childhood years. One obvious argument is that teenager behavior has changed now compared to the way it was several years. Has their behavior gotten better or worse? Teenager's behavior has without a doubt gotten worse over the years. Teenagers nowadays are likely to be more exposed

Male Depression: A Position Paper Analyzing The Symptoms Of Male Depression And Detailling How It Can Be Worse Than Female Depression By Society's Standards

1319 words - 5 pages bear all the pain by themselves until an intimate parter or a catastrophic event forces them to seek help.Many men learn to overvalue independence and self-control during childhood. They are taught that it is effeminate to express pain, weakness, uncertainty, helplessness and sadness. All but one the fourteen aforementioned men believed in very strict and traditional gender roles for males: strong, successful, authoritative, and stolid. Twelve of

Was Autocracy In The Middle Ages Better Or Worse Than The Democracy We Live In Today?

573 words - 2 pages Introduction."Australian democracy is a fairer system of government than the autocracy of medieval time" Discuss. A topic that has the ability to make people question their own government. Is it true, was it really better living with the autocracy of medieval times, or is today's government more humane to all people living in our society?In the Australian democratic system everyone gets a say.A government is put into power by receiving votes in

Title: A Duplicitous Slaughter. I Was One Mark Off Getting An A+ For This Essay About 2 Months Ago.

1837 words - 7 pages now buried father has ultimately affected him in ways one could not comprehend. He knows how excellent and loving his father was and from this Hamlet purely cannot understand how his own mother could betray King Hamlet when he has been but two months dead, nay, not even two. King Hamlet was so loving to his mother in their relationship. It haunts Hamlet to even think about how his mother used to hang on him in such a way as if her increase of