Economic Trends July 2005

IN BRIEF REGULAR ARTICLES Economic Update - July 2005 Forecasts for the UK Economy - June 2005 FEATURE ARTICLES The Effects of Taxes and Benefits on Household Income, 2003-04 Consumer Prices Index and Retail Prices Index: Updating Weights for 2005 Experimental Monthly Index of Services - Development Programme Update TABLES Selected Monthly Indicators UK ECONOMIC ACCOUNTS National Accounts Aggregates Gross Domestic Product Income, Product and Spending per Head Households' Disposable Income and Final Consumption Expenditure Gross Fixed Capital Formation Gross Value Added, Chained volume Indices Capital accounts and Net Lending/Borrowing Private Non-financial Corporations Balance of Payments Trade in Goods UK Competitiveness PRICES Labour Market Labour Market Activity Jobs and Claimant Count Unemployment Rates Average Earnings Productivity and Unit Wage Costs SELECTED OUTPUT AND DEMAND INDICATORS Output of Production Industries Engineering and Construction: Output and Orders Motor Vehicle and Steel Production Fixed Investment in Dwellings Property Transactions Inventories Retail Sales Inland Energy Consumption SELECTED FINANCIAL STATISTICS Sterling Exchange Rates and UK Reserves Monetary Aggregates and Changes in Money Stock Public Sector Receipts, Expenditure and Key Fiscal Indicators Consumer Credit Bank Lending to UK Residents Interest Rates, Security Prices and Yields Asset Prices