Wednesday’s business news headlines – as selected by BBC economics editor Paul Mason
Despite Brexit unease, confidence around UK’s economic growth is edging higher
Taken on its own, the productivity figure is disastrous. Taken over a longer period of time it shows that output per worker rose strongly from 1997 to 2016.
Quantitative easing, by increasing the supply of money, has harmed workers with bad-quality money in their pockets. This resulted in the worst squeeze on purchasing power of private consumption since the 1920s.
The decline in investment as a share of national income has been extremely corrosive.
Employment, in nominal terms, has not been higher since the 1970s. Employment terms and conditions have deteriorated, so there has been no real boost in employment.
Household debt as a share of earnings has risen sharply. Debt is a drag on income and living standards.