Today we’ve published improved GDP figures for 1997 up to 2023, which will be adopted in our headline figures at the end of September. Read about them in our new blog post ➡

How the west’s wellness industry is driving Ethiopia’s frankincense trees towards extinction - links to the functions of the price mechanism and the tragedy of the commons.

Contextual example for Anti-competitive regulation - EU court rules Google must pay €2.4bn fine - BBC News

In the 12 months to April 2024: Consumer Prices Index (CPI) rose by 2.3%, down from 3.2% in the 12 months to March. Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 3.0%, down from 3.8% in the 12 months to March. ➡️ https://t.co/MgOQsgwOkV

Thailand's 🇹🇭 proposed minimum wage hike to 400 baht per day day could boost incomes but risks higher unemployment and inflation. What does this mean for businesses and workers? #Economics #Thailand #MinimumWage

Key UK Stats that you will definitely use in Paper 2; 1) Annual Growth (2023) 0.1% 2) 2024 Forecast Growth 0.8% 3) Unemployment 4.3% 4) CPI 3.2% 5) CA Deficit 3.2% GDP 6) Base Rate 5.25% 7) Budget Deficit 4.2% GDP 8) National Debt 98% GDP 9) -ve Output Gap 10) Gini 0.357 #gold

Know your QE chains; 1) Creation of Money by BoE 2) Buy bonds 3) Price of bonds rise, yields fall 4) Coupons (LR interest rates) in the economy fall 5) Cost reduces and ease of raising finance for banks increase 6) Cheaper loans for firms & individuals 7) More C & I thus more AD

Technology has increased contestability by; 1) Reducing barriers to entry/exit 2) Improving information 3) Increasing number of potential firms who can enter a market BUT through innovation, patents and use of personal information, technology may have reduced contestability too

Great examples of contestable markets are; 1) Airlines 2) Taxis 3) Fast Food 4) Hotels 5) Streaming (Music and TV) 6) Parcel Delivery 7) Supermarkets 8) Banking

Today's Data Insight by @maxcroser: From 5% to 71% in 25 years: Kenya has made substantial progress in providing access to electricity 🔗 https://t.co/KQhRSbc3w4

The Monetary Policy Committee voted by a majority of 8-1 to maintain #BankRate at 5.25%. https://t.co/G4tzjXd6XJ

At #Samsung in #Vietnam today, on the Cambridge ExecutiveMBA… 1/3 of FDI into Vietnam comes from Samsung, employs 100,000 workers, 3rd largest employer here. Over 50% of Samsung hand phones are made in Vietnam now. #EMBA

In the year to February 2024: ▪️ Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 3.8%, down from 4.2% in January. ▪️ Consumer Prices Index (CPI) rose by 3.4%, down from 4.0% in January. ➡️ https://t.co/ObDycx6pDz

A small but significant moment for global monetary policy. For eight years, the Bank of Japan has been following a policy of negative interest rates to help combat price deflation. And for the first time since 2007, interest rates have been raised in Japan.

Bank of Japan ends eight-year era of negative interest rates

GDP grew by 0.2% in January 2024: ▪️ services grew (+0.2%) ▪️ production fell (-0.2%) ▪️ construction grew (+1.1%) ➡️ https://t.co/BI2AKHq15P

The latest data for the Human Development Index is out. The UK came 15th in the rankings. #tutor2ueconomics #humandevelopment #humandevelopmentindex #unitednations #globaleconomy #economicsdevelopment #edexceleconomics #ibeconomics #ocreconomics #aqaeconomics #cieeconomics

Today, we reveal the annual changes to our inflation basket of goods for 2024 🛒 16 items have been added to the basket and 15 have been removed out of a total of 744 items, reflecting the changing tastes and habits of UK consumers. ➡️ https://t.co/ATrYYJrXQU

3.10.4 (AQA BS) - The value of contingency planning.

Interesting UK economy forecasts came from the budget too; 1) Forecast 2024 Growth 0.8% 2) GDP/Capita Growth negative in 2024 3) Inflation 1.5% by Q4 2024 4) Forecast budget deficit 4.2% 5) National Debt 97.6% GDP and to stay around this for several years #context