tag:blogger.com,1999:blog-5187043.post6597968889056637275..comments2024-03-29T09:13:55.008+00:00Comments on UK Commentators: Economic Illiteracy - Media EditionLabanhttp://www.blogger.com/profile/12031578024191117985noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5187043.post-87561671493720565152011-11-15T11:37:36.632+00:002011-11-15T11:37:36.632+00:00"We dont make anything..."
At peak fina..."We dont make anything..."<br /><br />At peak financial sector accounted for 8% GDP; manufacturing at same point 14%<br />UK manufacturing turnover 2006 c. £450 bn/yr <br />Earned 53% of export earnings 2009 down from 60% 2005 and 80% 2003.<br />UK manufacturing output exceeds that of France by value.<br />In 2005 manufactured exports as % merchandise exports 77%; lower than other G7 except Canada due to N. Sea oil; but of these the "high tech" sectors (aerospace, computers, special electronics, pharmaceuticals, scientific instruments, electrical machinery) were 28% of manufactures exports (compare US 32%, Japan 22%, France 20%; Germany 17% - German figures skewed down due to large exports in autos, specialty metals etc; but N.B. UK figures exclude batch production high grade machinery & parts)<br /><br />indices by constant (2005 priced) values:<br /><br />Index of all production (includes mining, food processing etc) :<br />2005 = 100<br />2000 = 104.2<br />1990 = 91.4<br />1980 = 76.7<br />1970 = 70.6<br />1960 = 53<br />1950 = 39.7<br /><br />Index of manufacturing: <br />2009 = 88.5<br />2005 = 100<br />2000 = 102<br />1990 = 93.5<br />1980 = 77.4<br />1970 = 79.4<br />1960 = 59.3<br />1950 = 43.6<br />(N.B. does NOT include North Sea Oil output)<br /><br /><br />UK car production:<br />1950 523,000<br />1960 1,353,000<br />1970 1,641,000<br />1980 924,000<br />1990 1,296,000<br />2000 1,641,000<br />2007 1,535,000<br /><br />UK steel production (millions of tonnes):<br />1950 16<br />1960 24<br />1970 28<br />1980 11<br />1990 17<br />2000 15<br />2008 13<br /><br />I grant these figures are out of date, by years, but solid economic stats. usually are, and AFAIA the relative proportions have not shifted much. I could hunt around for more recent updates onlne if you are really interesed<br /><br />I'm not daft enough to say that UK manufacturing does not have problems but a post industrial wasteland we aint.John Fhttps://www.blogger.com/profile/03717420808420714041noreply@blogger.comtag:blogger.com,1999:blog-5187043.post-88566758708747171032011-11-12T17:39:45.773+00:002011-11-12T17:39:45.773+00:00Well the other assumption is that if people can af...Well the other assumption is that if people can afford to buy things then the economy must be generating wealth, and therefore recoverying.<br /><br />But really, the total amount of debt should be deducted from GDP, then we'd get a more accurate figure.<br />And then these debt fueled 'booms' would be seen for what they are more quickly.<br /><br />Infact debt plus interest should be deducted from GPD figures, which would show debt for the disadvantage that it really is.Anonymousnoreply@blogger.com