ONS - and ONS could influence the election with irrelevant data ]]> Latest distributive trades survey from CBI. Index tracking orders for UK manufacturers in the three months to April 12% is the first significant growth since January 2008. Strongest balance for exports since strongest balance since July 1995. See CBI ]]> IMF Revises projections for world, US and India upwards.   Now predicting growth rate of 8.8% and 8.4% for India in 2010 and 2011. US projected to grow by 3.1% this year. Projections for UK and Germany revised downwards. UK now expected to grow by 1.3 and 2.5% in 2010 and 2011. Germany’s forecast growth slightly lower. See IMF and and IABN economic snap shot ]]> Average earnings including bonuses rose from 0.8% to 2.3% y/y between January and February.  One of the strongest indicators of inflationary pressures seen for a while.  But, wages in private sector excluding bonuses were up by just 0.9%, compared to 3.9% in public sector. See ONS and Wages rise, as inflation rears its ugly head

]]> Inflation rises from 3.0 to 3.4% in March. Partly explained b higher oil and other commodities, but even core inflation with food, energy and tobacco taken out was up to 3%. It is possible we are seeing a delayed reaction to the reversal of the 2009 VAT cut.  For links see ONS and  Is UK set to go the way of the Weimar Republic?

]]> Latest report from Ernst and Young Item club predicted 1% growth for UK this year, but 2.7% growth in 2011 and 3.4% in 2012. Claims exports will power growth. And predicted current account surplus by 2012. Globalisation of labour has meant labour is enjoying smaller proceeds from growth, and corporate sector grabbing big slice. Says this explains why consumers borrowing rose even when consumption growth was modest. Click for Ernst and Young Report and IABN comment, Did globalisation cause the economic crisis?

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