2.1.

2 Macroeconomic indicators
Year 1 content

Use your understanding of the data that is commonly

used to measure the performance of the UK economy
to analyse the article “UK industrial output grows
strongly”.

To what extent do you think the article gives a positive

outlook for the whole economy? Justify your answer.
 2.1.2 WHAT YOU NEED TO KNOW

 The data that is commonly used to measure the

performance of the UK economy, such as:
 Real GDP
 Real GDP per capita
 Consumer Price and Retail Price Indices
 Measures of unemployment
 Productivity
 Balance of payments on current account
 2.1.2 YEAR 1 RECAP:

 In pairs take it in turns to explain each of the following

macroeconomic indicators
 Real GDP
 Real GDP per capita
 Consumer Price and Retail Price Indices
 Measures of unemployment
 Productivity
 Balance of payments on current account