By John Hawksworth, Chief Economist The latest labour market data from the ONS showed regular pay in the three months to February 2013 up by just 1% on a year ago. Given that the latest consumer price inflation rate is 2.8%, this appears to imply a heavy squeeze on consumer...
By John Hawksworth The latest issue of our UK Economic Outlook report has one central message - the recovery will be slow and bumpy. But it is not all bad news: we think there is potential for stronger growth in the longer term if UK businesses can tap into the...
By Yong Jing Teow and John Hawksworth To mark International Women’s Day (8th March) new PwC research reveals women in the UK are less likely to be in full-time work and experience greater pay inequality than their counterparts in other developed countries. Our new PwC Women in Work Index shows...
By Yih Lin Teh and John Hawksworth, Chief Economist From November 2012 to the end of January 2013, major stock markets around the world experienced relatively strong gains – in marked contrast to negative GDP growth in most of the major advanced economies in Q4 2012. What should we read...
By John Hawksworth, Chief Economist, and Adam Lyons, Oil and Gas Director Shale oil is rapidly emerging as a significant and relatively low cost new unconventional resource in the US. And it has the potential to spread globally over the next couple of decades. If this happens, it could revolutionise...
By John Hawksworth, Chief Economist, and Danny Chan, Economist We have just produced the latest in our series of reports looking ahead to the World in 2050. So what are the key trends we expect to see by the middle of the century? Three things stand out. First, we expect...
By John Hawksworth, Chief Economist, and Jonathan Gillham, Senior Economist The recent Autumn Statement has focused attention on the UK public finances, but how bad is our public debt position by international standards? And what about household debt? In fact, as the table below shows UK net government debt per...
By John Hawksworth, Chief Economist At the time of the Budget in March, the Office for Budget Responsibility (OBR) was expecting UK GDP growth to be around 1% in this year, picking up to around 3% on average in the medium term. Even at the time this looked relatively optimistic...
By Tom Robinson, PwC Economist, and John Hawksworth, Chief Economist Media attention focuses on the headline inflation rate, which rose by a surprisingly large amount from 2.2% in September to 2.7% in October. But it is also interesting to ask how this inflation rate varies across households in different income...
By John Hawksworth and Yong Jing Teow UK exports have not grown as fast as some had hoped in recent years. Much of this can be attributed to the slowdown in the UK’s key European and US markets, and it was common even just a few years ago to hear...
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