Summary
Looking at the underlying trends there does seem to be some encouraging, yet tentative, news on exports - stripping out oil and erratics, export volumes were more than 8% up on a year earlier. [...] recently the exports data had been puzzlingly weak given that the surveys were reporting surging export orders.
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Extract
Could Greater Innovation Boost Uk Growth?
Highlights
* Research we have carried out for NESTA suggests that an increase in innovation activity would generate faster economic growth and greater sectoral balance. High-tech manufacturing is particularly responsive to innovation, but the greatest returns would come from increased innovation across the whole economy.* This week's data shows the manufacturing sector recovering well on the back of rising export orders, as supported by the trade figures. However, retail sales remained subdued.With the economy in the early stages of what is likely to be a particularly challenging recovery, given the need for considerable fiscal retrenchment and high levels of household indebtedness, thoughts are turning to the likely future profile of economic growth. In this context we were commissioned by the National Endowment for Science Technology and the Arts (NESTA) to investigate the concept of 'economic balance' and to look at the impact that greater innovation cou...See the full content of this document
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