Our monthly economic projections table summarises our main scenario GDP and inflation projections. We also assess the interest rate outlook for the US, the UK and the Eurozone.
Sources: PwC analysis, National statistical authorities, Datastream and IMF. All inflation indicators relate to the Consumer Price Index (CPI). Argentina has recently launched a new CPI measure, which only contains data from April 2016. Therefore we only project inflation for 2017, and will provide 2018 and 2019-2023 projections once a longer series is available. Note that the tables above form our main scenario projections and are therefore subject to considerable uncertainties. We recommend that our clients look at a range of alternative scenarios.
Q4 data for 2016 revealed UK employment hit an all-time high of 74.6%, driven by record numbers of working women at 70%, as well as a fall in part-time work.
But we are not seeing these improvements in the job market feed through to earnings growth. Last month, UK inflation rose to 1.8% - the highest rate for two-and-a-half years, while nominal earnings growth slowed at the end of 2016.
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