Chief Economist’s Weekly Brief – Something new

The UK economy may be on the cusp of receiving two new little growth boosts. Firstly, the Chancellor signalled an adjustment in fiscal policy to free up cash for investment. Second, the recent fall in sterling may do what the crisis-driven fall in sterling couldn’t: help generate a sustained export improvement. Both would certainly be welcome. Continue reading

Chief Economist’s Weekly Brief – Summer soft patch

It’s looking a lot like October all over again. Just as a flurry of US policymakers were talking up the chances of a Fed rate rise later this month, the labour market produces a bad headline and throws it all into doubt. Exactly the same thing happened towards the end of last year when October’s move was postponed till December.

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Chief Economist’s Weekly Brief – Never a dull moment

A former Bank of England Governor once said of central banking that “boring is best”. Last week though, central bankers were once again hogging the limelight. First off, the US Federal Reserve, which having raised rates must now work out whether the economy can support them. Second the Bank of Japan, which joined the negative rate club. And with all eyes on the Bank of England this week, “boring” seems a distant memory.

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NI’s strong economic links with the US

Image showing NI's economic links with the US in terms of exports, visitors, businesses and employees

Northern Ireland has very strong economic links with the US, when we look at a range of indicators, including visitors to NI, manufacturing exports, the number of US businesses operating in Northern Ireland and the number of local people American firms employ.

With it being around 4th July time, this graphic gives a snapshot of those strong economic links.

For further context, it is also worth noting, for instance, that US visitors spent nearly £55million in NI in 2014, which works out on average at nearly £300 per visitor, compared to £220 per English visitor, and around £200 per German visitor.

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