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A Brief History of Economic Growth

Vollrath Fig 1

BY DIETRICH VOLRATH 13/11/2015 Most macroeconomic textbooks make a vague distinction between the ‘short run’ and the ‘long run’, typically saying the short run is somewhere between a few quarters and a few years, while the long run is perhaps five years out. When growth economists say ‘long run’, they really ...

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UK service sector growth accelerates

PMI figures for services indicate faster 2015 growth than in the same period in 2014

Activity in the UK’s service sector has accelerated to its fastest pace since August last year, according to a survey. The Markit/CIPS Purchasing Managers’ Index (PMI) survey rose to 58.9 in March, its strongest reading since August last year and up from the 56.7 recorded in February. Any reading below ...

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