Articles - UK: Going nowhere fast

 Schroders European Economist Azad Zangana comments on the economic situation in the UK in the latest Economic Strategy and Viewpoint.

 In summary:

 - The Chancellor's fourth budget felt like a case of déjà vu - growth revised down, the deficit revised up, and austerity extended for another year. However, some measures for the corporate sector could be beneficial while measures for the household sector could spur activity in construction and related retail sectors.

 - The Bank of England's target has been tweaked as a signal that the government wants more activism. However, the bank appears to be hesitant for fear of a loss of credibility as an inflation fighter, which could drive sterling even lower.

 - Finally, the labour market continues to surprise. Full-time employees are now dominating the gains in jobs, while the number of self-employed and part-time workers is falling. So are the numbers of people that are inactive. Could this be a sign that the labour market recovery is gathering momentum?

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