Aggregate Demand and Supply
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The EU’s Carbon Footprint Is Bigger Than You Think | Human Nature - Conservation International Blog

The EU’s Carbon Footprint Is Bigger Than You Think | Human Nature - Conservation International Blog | Aggregate Demand and Supply | Scoop.it
Since 1990, the EU has massively increased its imports of carbon-intensive products. (Did you know? Since 1990, the EU has decreased carbon emissions 8%, but massively increased carbon imports.
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Rescooped by Bruce Fellowes from Economy
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Tesco sees first market share rise since 2011 - BBC News

Tesco sees first market share rise since 2011 - BBC News | Aggregate Demand and Supply | Scoop.it
Tesco has increased its share of the UK grocery market for the first time since since 2011, figures from Kantar Worldpanel show.

Via Graham Watson, Leanne
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Graham Watson's curator insight, October 18, 2016 3:46 AM
A little bit of market movement in the grocery retailing sector, with Tesco reclaiming market share for the first time since 2011. It seems to be the case that the company has recovered some its reputation and also seen off competition from the discounters, given that sales have grown by 1.3% over the past year.
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Tesco enjoys fastest growth in three years as Aldi and Lidl slow

Tesco enjoys fastest growth in three years as Aldi and Lidl slow | Aggregate Demand and Supply | Scoop.it

Tesco’s turnaround appears to have been sealed with the supermarket giant recording its fastest sales growth in three years, industry data has shown.


Via Graham Watson, Leanne
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Graham Watson's curator insight, November 15, 2016 5:17 AM
I've not 'scooped' much about supermarkets recently, so let's right that particular wrong. This Telegraph article suggests that momentum in the sector is shifting back to established retailers, with a slight move away from the discounters, such as Aldi and Lidl.

However, this shouldn't be surprising - surely, income elasticity data would suggest that this would happen as we move out of recession?
GCS Business Studies's curator insight, November 16, 2016 3:52 AM
Income elasticity anyone?
Gonzalo Moreno's curator insight, November 17, 2016 8:19 AM
RETAIL news, my favorite!
It seems as though german hard discounters had got as high as they could: Recession is "officially over", and consumers are going back to their previous habits... Would you have guessed?
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Record numbers rely on parental cash to buy a property - BBC News

Record numbers rely on parental cash to buy a property - BBC News | Aggregate Demand and Supply | Scoop.it
A third of homebuyers in England have to rely on money from their family, says a new report.

Via Graham Watson
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Graham Watson's curator insight, March 27, 2:43 AM
Evidence of a lack of affordability in the housing market is made clear by this Social Mobility Commission report that highlighted the fact that a third of homebuyers require help from their parents to buy a house. The other statistic of note? The extent to which young people own housing - "in 1990, as many as 63% of 25-29 year-olds owned their own properties. By 2015, that proportion had fallen to 31%."
Rescooped by Bruce Fellowes from Microeconomics: Pre-U Economics
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Can long-haul air travel also be low cost? - BBC News

Can long-haul air travel also be low cost? - BBC News | Aggregate Demand and Supply | Scoop.it
A new budget airline from the owner of British Airways may not make reaching distant destinations cheaper.

Via Graham Watson
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Graham Watson's curator insight, March 26, 12:04 PM
This is an interesting article looking at whether the low-cost model can be applied to long-haul travel. Certainly, Norwegian Airlines have had success in flying to the US, such that IAG who own British Airways have launched their own new low-cost, long haul operator, Level, who will be flying to LA and Buenos Aires.

Norwegian is now the third biggest airline at Gatwick Airport, with twice-daily departures to New York and a daily flight to Los Angeles, and attributes its success to the Boeing 787, which because of its composite materials is much cheaper to run, and offers the opportunity for greater exploitation of EoS.
Rescooped by Bruce Fellowes from International Economics: Pre-U Economics
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From smugglers to supermarkets: the 'informal economy' touches us all

From smugglers to supermarkets: the 'informal economy' touches us all | Aggregate Demand and Supply | Scoop.it
You might not think that a smuggler in the Tunisian desert has much to do with your trip to the supermarket. You’re wrong

Via Graham Watson
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Graham Watson's curator insight, March 24, 10:22 AM
This little comment piece in the Guardian highlights the extent to which the informal economy is all around us, especially in developing nations. The order, Max Gallien, asserts that even in the UK, the informal sector accounts for 12% of GDP, and with the rise of the gig economy, he argues that the 'informalisation' of the economy, and employment, is going to continue apace.

An interesting read.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Inequality: are we measuring the right things? | National Statistical

Inequality: are we measuring the right things? | National Statistical | Aggregate Demand and Supply | Scoop.it
One of my colleagues wrote an interesting blog on inequality a few months’ ago, explaining that the evidence we have suggests that inequality in terms of income has been flat or falling in recent years. This is contrary to many people’s perceptions. So what is going on here?

Via Graham Watson
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Graham Watson's curator insight, March 24, 11:09 AM
Really thought-provoking blog post from Jonathan Athow at the Office for National Statistics that looks at how we measure inequality and whether we look at the right things or not. There are lots of nice observations about how cognitive biases might have led us to reach unwarranted conclusions about inequality but this little prompt gets us to look beyond the data.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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House price growth slows as market takes a breather 

House price growth slows as market takes a breather  | Aggregate Demand and Supply | Scoop.it
Mortgage lending slowed down in February in the latest sign that the housing market is settling into a period of modest price rises rather than a boom or a slump.

Via Graham Watson
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Graham Watson's curator insight, March 25, 3:20 AM
The latest from the UK housing market: "taking a breather", apparently, although another piece in yesterday's Telegraph noted that whilst the London market has slowed, in some of Britain's other cities the market remains buoyant, notably Manchester. 
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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UK retail sales shrug off Brexit fears with February rise

UK retail sales shrug off Brexit fears with February rise | Aggregate Demand and Supply | Scoop.it
Recovery after slump in December and January is not enough to reverse slide in three-month trend, says ONS

Via Graham Watson
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Graham Watson's curator insight, March 23, 3:33 PM
...But the Guardian is sufficiently balanced to note that although the trend suggests that retail sales have slowed, February's figures have actually picked up.

However, as the Deputy Governor of the Bank of England, Ben Broadbent notes: “The vote to leave the EU led to a big drop in sterling’s exchange rate...One consequence is a rise in import prices and a squeeze on households’ real income. We may already be seeing the impact of that squeeze on retail spending, which in real terms fell quite sharply around the turn of the year.” So, in the longer-term there are grounds for pessimism
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Rising food and fuel prices hoist UK inflation rate to 2.3%

Rising food and fuel prices hoist UK inflation rate to 2.3% | Aggregate Demand and Supply | Scoop.it
Standard of living fears build as wage growth slows and inflation leaps from 1.8% in January to highest level since September 2013

Via Graham Watson
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Graham Watson's curator insight, March 21, 4:47 PM
The Guardian take on the latest inflation data features a picture of some lettuces. Are they attributing inflation to the Romainers?
Rescooped by Bruce Fellowes from Developments in the UK Economy
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UK CPI Inflation Surges to 2.3% - Brexit Impact Mounts

UK CPI Inflation Surges to 2.3% - Brexit Impact Mounts | Aggregate Demand and Supply | Scoop.it
The jump in the annual rate of CPI inflation from 1.8% last month to 2.3% this month is a strong indication of the lagged effects of the post-Brexit…

Via Geoff Riley
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Geoff Riley's curator insight, March 21, 6:19 AM
The jump in the annual rate of CPI inflation from 1.8% last month to 2.3% this month is a strong indication of the lagged effects of the post-Brexit depreciation of sterling. Some economists including Ed Conway at Sky are suggesting that real-time measures of inflation have prices in the UK already rising year-on-year at a rate of 3% or more. Here is some of the reaction to the steep increase in inflation.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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GDP and me

GDP and me | Aggregate Demand and Supply | Scoop.it
What's GDP (Gross Domestic Product) got to do with you and me? It's a part of everyday life, from booking a cruise to having a pint down the local to the things you buy in your weekly shop.

Via Graham Watson
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Graham Watson's curator insight, March 20, 9:42 AM
Excellent ONS visualisation that looks at how individual households, and individual sectors of the economy contribute to GDP. There are separate sections on supermarket, pub and the living room that look at different aspects of GDP. It is well worth a visit.
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Homes cost more than seven times income - BBC News

Homes cost more than seven times income - BBC News | Aggregate Demand and Supply | Scoop.it
The affordability gap widened to a record level last year as house price rises outstripped wage growth.

Via Graham Watson
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Graham Watson's curator insight, March 18, 5:10 PM
Housing affordability has long been an issue: every since I returned to the UK, it has been flagged up, with the Barker Report, in particular, mentioning it.

And yet, is has also been the case that there's never been a concerted effort to address it, with government's reluctant to take the lead. As a result, the so-called 'affordability gap' between house prices and average earnings has reached a record high, with the average house price more than seven times average income. I hope you might be able to work out why this might become an economic issue meriting a governmental response.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Toyota urges tariff-free trade with Europe as it puts £240m into Derbyshire car plant

Toyota urges tariff-free trade with Europe as it puts £240m into Derbyshire car plant | Aggregate Demand and Supply | Scoop.it
Japanese car giant Toyota has called for the UK to be able to continue to trade tariff-free with the European Union after Brexit as it announced a £240m investment in its only British factory.

Via Graham Watson
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Graham Watson's curator insight, March 17, 4:22 AM
Excellent in-depth Telegraph piece about Toyota's decision to invest in Burnaston, within the context of the wider UK car industry and its position post-Brexit. Unsurprisingly, Toyota are calling for tariff-free trade but it paints a picture of a sector that is a major player, both in Europe and beyond.

And that is why this sort of investment is encouraging, and why the nature of any future Brexit deal is so important.
Rescooped by Bruce Fellowes from Economy
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Tesco warns global suppliers over price rises - BBC News

Tesco warns global suppliers over price rises - BBC News | Aggregate Demand and Supply | Scoop.it
Tesco boss Dave Lewis warns global suppliers not to artificially inflate their prices because of the fall in the pound following Brexit.

Via Graham Watson, Leanne
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Graham Watson's curator insight, November 18, 2016 7:18 AM
It's official, Tesco's Dave Lewis has intervened to warn its global suppliers not to use Brexit as an excuse for 'price gouging' in the UK market.
Rescooped by Bruce Fellowes from Microeconomics: Pre-U Economics
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Sports Direct workers paid less than minimum wage yet to get back pay

Sports Direct workers paid less than minimum wage yet to get back pay | Aggregate Demand and Supply | Scoop.it
Transline, exposed as part of Guardian investigation, has not paid money to scores of employees, BEIS committee hears

Via Graham Watson
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Graham Watson's curator insight, March 29, 7:20 AM
Just because the National Minimum Wage (or National Living Wage, if you prefer!) exists, it doesn't mean that everyone gets it. This Guardian report highlights an instance where a company has ben found to contravene current labour law, but it still hasn't compensated its workers.

Thus, there's a case for some sort of intervention...
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Austerity bites? Less chocolate for your money as packets shrink

Austerity bites? Less chocolate for your money as packets shrink | Aggregate Demand and Supply | Scoop.it
Mars reduces pack sizes of Maltesers and other top brands for second time in 12 months

Via Graham Watson
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Graham Watson's curator insight, March 26, 1:05 PM
More shrinkflation: Mars are reducing the size of Maltesers packets for the second time in a year, to counteract the effect of rising costs. If only the late Ronnie Corbett were alive today he'd now be 3 foot 10 inches tall by my reckoning.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Brexit economy: UK faces squeeze on living standards

Brexit economy: UK faces squeeze on living standards | Aggregate Demand and Supply | Scoop.it
The latest monthly Guardian analysis finds signs of a slowdown as prices rise and real pay shrinks

Via Graham Watson
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Graham Watson's curator insight, March 24, 10:18 AM
The Guardian's Brexit watch looks at how Brexit has affected the UK economy and argues that the signs of a slowdown are apparent with retail sales softening and prices rising. All in all, they foresee a period of retrenchment as consumers fell the pinch of falling real incomes and the uncertainty over Brexit negotiations are hardly going to help either.
Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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Cadbury says chocolate could get smaller after Brexit

Cadbury says chocolate could get smaller after Brexit | Aggregate Demand and Supply | Scoop.it
Company commits to UK but says consumers could pay more or get less confectionery as a result of exit from EU

Via Graham Watson
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Graham Watson's curator insight, March 24, 10:54 AM
The Guardian really seems to revel in our pain: this article details the phenomenon of shrinkflation - which has seen our chocolate bars suffer as a result of Brexit.

Cadbury are the latest company to announce that there could be changes afoot, with the size of a chocolate bar likely to shrink, unless the company is able to boost productivity in other areas to offset cost rises as a result of more expensive factor inputs as a result of post-Brexit depreciation.

On this instance, thanks be to Katie Allen for being the bearer of bad news. That seems to be her stock-in-trade.
Rescooped by Bruce Fellowes from Microeconomics: Pre-U Economics
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Petrol and diesel price cut amid pressure on retailers - BBC News

Petrol and diesel price cut amid pressure on retailers - BBC News | Aggregate Demand and Supply | Scoop.it
Supermarkets will cut 2p off the price of a litre of petrol and diesel this weekend.

Via Graham Watson
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Graham Watson's curator insight, March 24, 11:32 AM
Interesting example of how oligopolistic markets behave: as one supermarket drops fuel prices, others follow. Does that remind you of anything? Kinked demand curve, perhaps.

It's fascinating to see that Asda moved first but that the big trigger for this is the decision of Tesco to cut their fuel prices. But equally, there's some classic oligopoly theory in the RAC  comment that prices should have fallen faster and the observation that price cuts depend upon the level of competition in a particular locality. Markets in action!
Rescooped by Bruce Fellowes from Microeconomics: Pre-U Economics
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Cauliflower prices slashed as UK's warm weather leads to glut

Cauliflower prices slashed as UK's warm weather leads to glut | Aggregate Demand and Supply | Scoop.it
Supermarkets forced to cut cauliflower price despite recent growth in sales as UK farmers bring bumper harvest to market

Via Graham Watson
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Graham Watson's curator insight, March 25, 3:29 AM
Elementary D&S story for you: warm weather in the UK has boosted the supply of cauliflowers and thus their price has fallen. And don't knock cauliflower couscous either - it's lovely stuff, when properly prepared!
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Has this dress been to more countries than you? - BBC News

Has this dress been to more countries than you? - BBC News | Aggregate Demand and Supply | Scoop.it
We track a single item of clothing to see just where it goes before it ends up in the shop.

Via Graham Watson
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Graham Watson's curator insight, March 22, 2:45 AM
nother BBC article that shows the international nature of the supply chain by looking at where a Zara dress comes from. In the case of the pink dress featured, the cotton is European, it is woven into yarn in China, then woven into fabric in China, dyed in Spain and cut and sewn together in Morocco.

All very "The Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power and Politics of World Trade" by Pietra Rivoli, that I read many moons ago. 
Rescooped by Bruce Fellowes from Microeconomics: Pre-U Economics
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Charge electric cars smartly to take pressure off national grid – minister

Charge electric cars smartly to take pressure off national grid – minister | Aggregate Demand and Supply | Scoop.it
SSE trials ‘demand-side response’ where vehicles start charging a few hours after being plugged in, when demand is lower

Via Graham Watson
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Graham Watson's curator insight, March 21, 6:22 AM
Interesting juxtaposition of Micro- and Macroeconomics, with the news that electric cars are putting more pressure on the national grid because of their charging needs, leading to a Transport Minister to call for drivers to charge them in a 'smart' way.

Is this an unintended consequence that might delay the widespread adoption of the electric car? And equally, is the electricity required generated in a carbon-friendly fashion? It's a good job that Britain's electricity network has such spare capacity...ooops! 
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Reality Check: What's this new measure of inflation? - BBC News

Reality Check: What's this new measure of inflation? - BBC News | Aggregate Demand and Supply | Scoop.it
CPIH is about to become the headline measure of inflation, but it's not a proper national statistic.

Via Phil Hensman
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Phil Hensman's curator insight, March 21, 4:20 AM
New measure of inflation - Don't get caught out with old terminology
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Here’s what shopping will look like in 2027

Here's what shopping will look like in 2027.


Via Graham Watson
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Graham Watson's curator insight, March 20, 9:50 AM
The World Economic Forum is a hotbed of ideas, innovation and futuristic thinking. This clips identifies eight trends that they think will shape shopping by 2027.
Rescooped by Bruce Fellowes from International Economics: Pre-U Economics
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G20 finance ministers drop anti-protectionist pledge - BBC News

G20 finance ministers drop anti-protectionist pledge - BBC News | Aggregate Demand and Supply | Scoop.it
Finance ministers drop a commitment to free trade because of opposition from the Trump administration.

Via Graham Watson
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Graham Watson's curator insight, March 18, 5:06 PM
Really disappointing news from today's G20 Finance Minister's meeting in Baden-Baden. The official communique contains no mention of a previous commitment to free trade, in part prompted by the position of the Trump regime on the issue.

And as a bonus, there's a fascinating chart detailing the extent to which G20 nations have adopted the most 'discriminatory trade policies'. The 'winner'?

I don't want to spoil it for you.