United Kingdom
Gross Domestic Product
Contribution to monthly change in real gross domestic product, 3-month moving average, SA
Illustrates the contribution of major components to the monthly change in UK gross domestic product, smoothed using a three-month moving average to reduce volatility. Each bar decomposes the net monthly change in real output into key industrial sectors, showing how much each component has added to or subtracted from overall growth.
United Kingdom
Average Weekly Earnings
Average weekly earnings annual growth rates for total pay (including bonuses) and regular pay (excluding bonuses), seasonally adjusted
Tracks annual growth in employee earnings, providing insight into wage trends across the economy. It is reported in two measures: total pay, which includes bonuses, and regular pay, which excludes them. Total pay can be more volatile due to seasonal or performance-related bonuses, while regular pay offers a clearer view of underlying wage trends. Investors and policymakers closely watch wage growth because it influences consumer spending, inflation, and monetary policy. Rising wages may signal tightening labor markets and inflationary pressures, potentially prompting interest rate changes from the Bank of England.
United Kingdom
Claimant Count Change
Monthly change in unemployment claims, thousands, SA
The Claimant Count Change records the monthly difference in the number of people claiming unemployment‐related benefits. The series has been used as the main indicator of labour market conditions in the United Kingdom since the 1970’s and figures are derived from records of claimants held at Job Benefit Offices. ‘Claimants’ include the severely disabled claimants, but exclude students seeking vacation work and the temporarily stopped.
United Kingdom
Consumer Prices
Consumer Price Index, annual % change, SA
The Consumer Price Index is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. The Office for National Statistics reports both an ‘All Items’ number that includes all categories in the calculation basket, and a ‘Core’ number that strips out highly volatile food, energy, alcohol, and tobacco prices.
United Kingdom
Trade Balance
Total Trade Balance, 12-month moving average, billions GBP, SA
Measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported – generating a trade surplus – and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.
United Kingdom
Policy Rate
Bank of England Bank Rate, %
The Bank Rate is an overnight interest rate that the Bank of England targets in order to influence monetary variables in the economy, including consumer prices, exchange rates, and credit growth. The Bank adjusts the target for the Bank Rate on eight fixed dates each year.
United Kingdom
Money Supply Growth
M4 Money Supply, annual % change, SA
M4 Money Supply, sometimes known as a “broad money aggregate”, is a measure of outstanding currency that includes notes and coin, funds in bank accounts: sterling deposits, commercial papers, bonds, repo trades, estimated holdings of sterling bank bills and other categories. Markets don’t typically respond directly to reported changes in M4, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
United Kingdom
Central Bank Assets
Total Bank of England assets, billions GBP
The Bank of England’s assets consist primarily of government bonds, commercial paper and corporate bonds, foreign exchange reserves, reverse repurchase agreements, and other instruments. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates – when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.
United Kingdom
Debt Ratios
Credit to general government, non-financial corporate, and household sectors, % of gross domestic product at market value
Illustrates the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
United Kingdom
Net International Investment Position
Net international investment position, millions USD
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
United Kingdom
Currency Reserves
Official reserve assets, foreign currency reserves (in convertible foreign currencies), billions USD
Currency Reserves show external holdings that are freely usable for settlement of international transactions, and are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in currency markets to affect exchange rates, and for other related purposes. Developed markets with widely used, freely tradeable international currencies typically provide reserve assets rather than engaging in reserve accumulation.
Latest Analysis
Caution creeps back in as US-Iran truce remains unresolved
29 May, 2026
Happy Friday. Oil prices and the dollar are paring their losses this morning after dropping sharply yesterday on reports of a tentative agreement between the US and Iran. According to multiple sources,...
Markets advance incrementally on Mideast optimism
27 May, 2026
Good morning. Oil prices and Treasury yields are easing as markets grow more confident that a deal between America and Iran could reopen the Strait of Hormuz, despite a series of military actions in recent...
The loonie and the leavers
26 May, 2026
On October 19th, Albertans will answer a question no province outside Quebec has ever formally put to its voters: whether to begin the legal process toward a binding referendum on leaving Canada. The wording...
Middle East uncertainties keep markets guessing
26 May, 2026
Good morning. Oil prices are climbing and the dollar is trimming its losses against major peers as hopes for a near-term diplomatic resolution to reopen the Strait of Hormuz fade amid a fresh round of...
Unemployment & the RBA
21 May, 2026
• Market swings. Conflicting US/Iran reports generated volatility. US equities a bit higher. USD whipped around. Local/offshore factors push/pulled the AUD.• AU jobs. Weak jobs report in April. Employment...
Iran hopes lift risk appetite, but conviction remains low
21 May, 2026
Good morning. In subdued trading, oil prices are extending their decline, equities are advancing, Treasury yields are easing from recent highs, and currency markets remain dormant after President Trump...
The world's most crowded trade
20 May, 2026
This afternoon’s first-quarter results from Nvidia are unlikely to cool the artificial intelligence frenzy. In nominal terms, net income almost certainly grew to a level no public company has ever...
Risk appetite improves ahead of Nvidia earnings
20 May, 2026
A bruising multi-day selloff in government bonds is showing signs of exhaustion this morning as investors train attention on Nvidia’s first-quarter results after the closing bell—an event that has...
AUD still on the backfoot
19 May, 2026
• Market wobbles. Inflation concerns & rising bond yields dampen sentiment. USD firmer. AUD & NZD underperform. AUD now ~2.2% from recent high.• Data flow. UK CPI inflation out today. FOMC minutes...
Markets turn cautious as Iran uncertainties remain
19 May, 2026
Good morning. Oil prices are edging lower and the dollar is strengthening after President Trump said he had suspended a planned bombardment of Iran, leaving market hopes for a reopening of the Strait of...