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We Cannot Afford an Anti-Business Agenda

Recently released data on GDP and employment continue to show improvements in economic conditions. The preliminary estimate for Q4 2013 released by the Office of National Statistics shows that GDP rose in volume by 0.7% over the previous quarter. This translates into:

  • a 1.9% increase for 2013 over 2012
  • an acceleration of year on year quarterly growth to 2.8% in Q4 2013.

Output increased in three of the four main industrial groupings within the economy in Q4 2013 compared with Q3 2013.

  • Agriculture: 0.5% increase
  • Production: 0.7% increase
  • Services: 0.8% increase
  • Construction: 0.3% decrease

However, in Q4 2013 GDP was estimated to be still 1.3% below the peak in Q1 2008. Labour market conditions have continued to improve with a fall in the unemployment rate to 7.1% and a very strong increase in employment of 280,000 in the three months to November.

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Adam Memon & Tim Knox - Thursday 30th January 2014

Adam joined the Centre for Policy Studies as Head of Economic Research in January 2014. 

Adam joined the Centre for Policy Studies as Head of Economic Research in January 2014. 

Tim Knox was Director of the CPS from 2011-2017. Before he was Director, Tim was the Editor at the CPS - a position in which he was responsible for publishing papers by every Conservative leader since Mrs Thatcher as well as by hundreds of leading academics and opinion formers.