New research out from me today: why has Britain experienced so little productivity growth in recent years? And why (at least up until now) has the US has performed so much better? Spoiler: it’s not just tech companies and energy prices 🧵

The UK economy unexpectedly grew by 0.1% in the last quarter of 2024 on the back of an unexpectedly strong December. But yet another fall in GDP per capita underlines our ongoing living standards squeeze. A thread on the key takeaways from today’s data.🧵

One reason why UK low-income households are especially poor (by intl. standards) is the cost of goods & services for this demographic. What’s behind this – and what should be done? @simonpittaway.bsky.social of @resfoundation.bsky.social explores #LSEInequalitiesBlog

Are any marketsy people on here able to explain why gilt-OIS spreads have risen so much over the past year? The timing is consistent with QT being the driver, but that's only circumstantial evidence.

When comparing incomes across countries, we adjust for the local price of all goods and services (known as purchasing power parity, or PPP). But when comparing the incomes of poorer households, shouldn’t we focus on the price of things that matter most to them?🧵