StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

How is the UK as a whole doing - Essay Example

Cite this document
Summary
UK ECONOMIC PERRFORMANCE Name University Course Instructor Date Introduction The statistics of economy measure various aspects of and offer directions into the economy of the United Kingdom. The statistics cover the United Kingdom accounts, temporary indicators like index of the retail sales, GDP vital United Kingdom Trade information…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
How is the UK as a whole doing
Read Text Preview

Extract of sample "How is the UK as a whole doing"

Download file to see previous pages

Similar to this is the money or cash flow for output services, (Maher and Wise, 2005, p.85). The key economic players are administration, business trade, households, and the wider international globe. Their means of interaction with one another is explained as a transaction The national statistics office offers statistics of the economy that measure the economy of the United Kingdom in various ways. For instance, there are complete United Kingdom national and economic accounts that offer an overall economic view.

The accounts sequence follows the laid out accounts if the national account systems of 1993, as well as the European Account systems of 1995. Similarly, short-term economic indicators like GDP, Index of Retail Sales, Production Index and Services Index exists. Additionally, there are some statistics offered on Payments Balance and Products and Services Trade. UK economic performance The performance of economy of UK is evaluated based on attainment of goals and targets the economy. The goals may be long-term like effective development and growth of the economy, or temporary like economic stabilization in following abrupt and unpredictable factors mainly known as economic shocks.

To evaluate economic performance against the above goals, economists use various economic indicators. These economic indicators estimate variables of economy, which directly or indirectly allow them to determine whether the performance of economy has enhanced or declined. Tracing such economic indicators is crucial to policy makers to allow them determine whether to intervene or if the intervention activities and plans have been successful or not. According to statistics, the first quarter GDP increase was about 0.

3 percent – a yearly growth rate of about 1.2 percent, (Helpman, 2008, p.12). This was 0.6 percent increased from the previous years; these growth rates are low than the set target and 3% than the growth witnessed prior to the financial crisis. The IMF asserts that the 2009 advanced economies GDP - that entails the United States, Japan and popular economies of Europe – will be about 3.8% higher than in the 2007 and 2008 cycles. Although, the United Kingdom GDP has not recovered its initial 2008 level, extreme slowdowns have been witnessed in various economic sectors that make up lower than 21% output and approximately 10% of employment opportunities – services of finance, construction and gas or oil, (Steil and Victor, Nelson, 2002, p.56). Apart from the sector of finance, the services activities that the key UK economic pillars are improving, this is the reason behind increased and strong employment.

The informal sector accounts for approximately a million United Kingdom’s employments in the last three years. Whereas UK does not have extensive manufacturing based that maintained its economy in both 19th and 20th centuries, it has various global and prominent manufactures – in aerospace, high engineering technology and health care sectors. UK care industry attained in global record export level last year. UK manufacturing is still competitive in knowledge deployment, skills, and technology and has a competitive advantage over reduced wage; labor-intensive sectors of manufacturing that have shifted to developing economies.

UK has also strong and competitive business sector services

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“How is the UK as a whole doing Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
How is the UK as a whole doing Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/macro-microeconomics/1478646-how-is-the-uk-as-a-whole-doing
(How Is the UK As a Whole Doing Essay Example | Topics and Well Written Essays - 1000 Words)
How Is the UK As a Whole Doing Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/macro-microeconomics/1478646-how-is-the-uk-as-a-whole-doing.
“How Is the UK As a Whole Doing Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/macro-microeconomics/1478646-how-is-the-uk-as-a-whole-doing.
  • Cited: 0 times

CHECK THESE SAMPLES OF How is the UK as a whole doing

How to Get More Young People in the UK Involved in Politics

… How to Get More Young People in the uk Involved in Politics?... The general feeling is that young people in the uk are increasingly disinterested in ‘conventional politics'.... It is noticed that youth across the world, are interested in doing those activities, which they think are good for them and which give them the opportunity to call themselves as a “good citizens”.... What really puts them off is the kind of work the elected representative end up doing, which is in total contrast with their expectations and they feel skeptic about the whole process of elections....
3 Pages (750 words) Coursework

The Relationship Between Competition Policy Measures and Economic Growth

This cost the uk economy and UK businesses over 400 million due to the fact that most of these UK businesses were moving abroad.... While the developing countries have increasing levels of disposable income due to a growth in economies, the uk businesses are aiming at these countries.... the uk businesses take to more developed countries like USA and Australia due to consistency as far as standards in management and marketing are concerned.... Also, culturally the uk businesses are closer to the culture followed in USA and Australia more than other countries....
17 Pages (4250 words) Essay

Woolworths UK Management Challenges

emand determinants are also instrumental in determining how Woolworths performs in the uk market.... There are a number of things that uk consumers look for when shopping in retail chain stores and some of them includeWhen one talks about convenience, they are referring to the ease of reach with which one can find commodities in retail stores....
10 Pages (2500 words) Essay

Working capital management

This section further divided into three parts, the first one deals with research philosophy that I adopt and second one with research approach and third one with research… Research philosophy describes the way I think about the development of knowledge which affects the way I go about doing research.... In case of cross-sectional study, it is more general in nature and involves of collection of data as regards quantum of bank lending to SME's in uk and may not involve detailed analysis of a particular happening in a company or faced by an individual....
12 Pages (3000 words) Essay

E-Government in the UK

The work "E Government in the uk" critically examines the influence of electronic government in facilitating the diffusion of public services to citizens.... E government implementation in the uk includes the use of cards with smart chips for passes to pay for school meals, public transportation and for online voting and online payment transactions.... E government implementation in the uk includes the use of cards with smart chips for passes to pay for school meals, public transportation and for online voting and online payment transactions....
8 Pages (2000 words) Essay

Joint Venture with X-Tech (Sweden) and Y-Tech (Albania)

nbsp; Z-Tech managers need to realize cultural differences that exist between the uk, Sweden, and Albania, in order to better segue into this joint venture.... nbsp;… According to the research findings, it can, therefore, be said that at Z-Tech do not want to seem to be arrogant, by simply exporting our own business culture of the uk to these extra-national operations, expecting our partners to conform to our own national habits and attitudes....
13 Pages (3250 words) Assignment

Sex, Drugs and GDP: the Challenge of Measuring the Shadow Economy

The article had described the intention of some EU countries such as the uk, Italy, and Ireland to include prostitution and other illicit doings in their GDPs.... Some economists may argue that the inclusion of such illicit activities is a better counting of everything that people are doing in the economy irrespective of its legality.... The article had described the intention of some EU countries such as uk, Italy and Ireland to include prostitution and other illicit doings in their GDPs....
1 Pages (250 words) Essay

Unemployment Is Becoming a Big Issue in the UK

The paper "Unemployment Is Becoming a Big Issue in the uk" discusses that the managers are likely to give a more critical analysis of the situation based on how they rated the students who worked in their firms as part of job placements to as part of the experience training.... However, according to Beg (2012), they are not always clear how much training and skills can lead to meaningful employment for them....
13 Pages (3250 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us