Week in Review - 14th January, 2011

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↓ UK TradeThe UK's total trade deficit worsened to £4.1bn in November, compared with a deficit of £4.0bn in October. The trade in goods deficit also worsened, to £8.7bn in November (from £8.6bn). However, there was export growth of £0.9bn over the month, driven mainly by non-EU exports.
↑ Index of ProductionManufacturing output grew strongly, by 0.6% in the month to November, and was up 5.6% compared with November 2009. Growth was broad-based, with 12 of 13 manufacturing sectors showing growth. Despite this, output remains 9.2% down from pre-recession high.
↔ MPC rate decision Once again, the MPC voted to maintain the Bank Rate at 0.5% and the stock of asset purchases at £200 billion.
↑ Producer price indexIn the year to December input prices for manufacturing rose by 12.5%. Pressure particularly came from oil (contributed 5.8 percentage points) and metals (1.9 percentage points).The output price index for home sales of manufactured products rose 4.2% in the year to Dec.
The week ahead
Tue 18th: Consumer Price Index;
Wed 19th: Labour Market Statistics;
Fri 21st: Retail Sales; Public Sector Finances; Trends in lending

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