Chief Economist’s Weekly Brief – Here’s hoping

A Happy New Year to our readers! Economic data over the last weeks of 2019 suggests the UK economy rounded off the decade struggling for momentum. But with some Brexit uncertainty sidelined, although certainly not all, and a government ready to loosen the fiscal spigots, there’s hope that 2020 will see a gradual improvement in the economy’s fortunes. But as events in the Middle East have shown, it’s already looking bumpy. Just like 2019, then!
happy-new-year-4657065_1920.jpg

Continue reading

At sixes and sevens?… (UK and NI new car sales fall to six and seven-year lows respectively)

Last year was a record year for both the UK and Northern Ireland labour markets. Employment has never been higher and unemployment (for Northern Ireland) has never been lower. Given these labour market conditions one would assume that consumer confidence must be strong too?  Not so. Previously having a job, or not having one, was a key determinant of whether a household or individual was in poverty. Over the last decade, however, a sustained period of below inflation wage growth and cuts to working-age welfare benefits has squeezed disposable incomes for those in work too.

auto-3209511_1920.jpg Continue reading

Big Economic Review of the Year 2019

Each December, we try to bring together some of the greatest minds in business and economics to review the year just past.

Unfortunately they’re never available. However, whilst you’re stuck with me, Richard Ramsey, we have been able to enlist the fantastic Stephen Kelly, Chief Executive of Manufacturing NI, and the incomparable Richard Johnston of Ulster University’s Economic Policy Centre to consider the good, the bad and the ugly of the NI, UK and global economies in 2019 and to speculate about who might be the economic villains of 2020.

We got together in Ulster Bank headquarters in Belfast earlier this week and covered a lot of ground… Have a listen and hopefully you find it useful and interesting.

Watch the podcast:

On-the-go? Prefer to listen to the review on SoundCloud?

Bye for now and have a great Christmas and New Year!