On the sick list

12 Apr 2006 By Edward Hadas

Britain s unemployment rate is rising. So is its trade deficit. And the country imports much more than it exports. The government and central bank have little scope to take remedial action. Eventually, a shock may be required to restore equilibrium.

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The unemployment rate in the UK was 5.1% in February, based on a threemonth average. The rate was 5.0% in January and 4.8% in February 2005.

The UK trade deficit for the three months ending in February was £13.2bn, up from up from £11.9bn in January and £11bn in February 2005. The deficit increased from £31bn to £47bn between 2003 and 2005.

The output of the UK manufacturing sector declined by 1.4% in the UK in the year that ended in February. It declined 2.4% between 2001 and 2005. For the oil and gas sector, the decline was 23%.

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