There has been some useful analysis on the state of the UK economy following the release of the Q4’2012 GDP figures last week (see my last post, Britain deep down). In my last post, I dealt with the apparent conundrum of the UK unemployment rate falling while the economy stagnated in real terms in 2012. I argued that the employment data hid the reality that more temporary and part-time jobs had been created to replace the loss of full-time, permanent jobs. And this was part of the explanation for the decline in unemployment and the disappearance of any productivity growth in the UK. The other key factor is the lack of sufficient investment growth as profitability remains well below the previous peak, particularly in the productive sectors of manufacturing (see my post,http://thenextrecession.wordpress.com/2012/12/05/osbornes-mess/).
Via jean lievens