The chart demonstrates the extent to which the two countries’ economies are intertwined and the enormity of the US trade deficit with China, which has only increased in the last two decades.
Chart of the Week: Week 49, 2016: Impact of Forecasting Changes on Borrowing
The Office for Budget Responsibility has projected that the Brexit bill will be £60bn over the next five years as a result of lower growth and weaker tax returns.
Chart of the Week: Week 45, 2016: US GDP and Unemployment
The chart shows that with the exception of 2 occasions, each time the incumbent was ousted at general election, GDP had fallen in the year prior.
Chart of the Week: Week 44, 2016: Government Spending on Education v.s. Labour Productivity
The chart shows that the UK, when compared to other EU countries with strong economies, has one of the lowest levels of spending on vocational education as a percentage of GDP (under 1.5%).
Chart of the Week: Week 43, 2016: Freight Methods of UK Goods Exports to non-EU World
The chart shows that the value of sea freight is at a stable level, remaining fairly constant over the last decade.
Chart of the Week: Week 42, 2016: Inflation vs. Earnings
The latest ONS figures, released yesterday show that inflation seems to be in the initial phase of converging with wage growth, currently at a tolerable level.