25 articles for "Andrew Sentance"

20 March 2014

The 2014 Budget – as “good as it gets” for now

By Andrew Sentance, Senior Economic Adviser, PwC 2014 may be “as good as it gets” for the growth of the British economy, according to the latest OBR forecasts released in yesterday’s Budget. GDP growth is projected to be 2.7% this year, but is then expected to be around 2.5% over...

29 January 2014

Respectable growth in the New Normal

By Andrew Sentance, Senior Economic Adviser, PwC UK economic growth is looking up. The 0.7% GDP increase in Q4 might not have been as strong as some commentators were expecting. But it means economic activity is 2.8% up on a year ago. That’s still not as strong as the 3.3%...

22 January 2014

UK economic recovery – as good as it gets?

By Andrew Sentance, Senior Economic Adviser, PwC In 2013, the performance of the British economy took most economic commentators by surprise. Last spring, the consensus forecast for 2013 UK growth was just 0.8% - which would have made it a third consecutive year of growth around 1% or below. Next...

11 December 2013

Titans clash on UK economic prospects

By Andrew Sentance, Senior Economic Adviser, PwC It was my great pleasure yesterday evening (Tuesday 10th December) to chair the 3rd Clash of the Titans event organised by the Economic Research Council and supported by PwC. In front of an audience of around 400 business and financial executives, academics and...

04 November 2013

It’s rebalancing – but not as we know it!

By Andrew Sentance, Senior Economic Adviser, PwC When the UK economic recovery started in 2009, there were high hopes that growth would be led by a resurgence of manufacturing industry. Many of the conditions seemed to be in place for a rebalancing of the economy in that direction. The pound...

08 August 2013

Mark Carney’s interest rate gamble

By Andrew Sentance, Senior Economic Adviser, PwC There is a wind of change blowing through the Bank of England under the new Governor, Mark Carney. Under his two predecessors – Eddie George and Mervyn King – the MPC was always very reluctant to make commitments about its future policy. The...

18 July 2013

Looking for guidance from Mark Carney

By Andrew Sentance, Senior Economic Adviser, PwC Mark Carney has had a lucky start as Governor of the Bank of England. Business surveys and labour market data suggest that the UK economy continues to grow and is probably picked up momentum. He has narrowly avoided having to write his first...

13 June 2013

Unemployment figures confirm the “new normal” of low growth

By Andrew Sentance, Senior Economic Adviser, PwC Unemployment is falling again in the UK. That is very welcome, though the recent fall is very modest – around 5,000 over the past three months. But the remarkable thing about the UK unemployment rate over the four years of economic recovery so...

17 May 2013

Rethinking government in the ‘new normal’ economy

By Andrew Sentance, Senior Economic Adviser, PwC Public spending is under pressure. Across the western world, and especially in Europe, governments are struggling to contain high levels of public spending and borrowing. According to the OECD, the UK government spent 49% of GDP in 2012, and across the euro area...

22 April 2013

Why the UK economy is not rebalancing

By Andrew Sentance, Senior Economic Adviser, PwC Official UK economic policy statements repeatedly emphasise the need to rebalance our economy. The idea is that growth before the financial crisis was too dependent on financial services and consumer spending. Over the recovery, ministers and senior Bank officials have argued, we need...