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welcome. let me start with the situation welcome. let me start with the situation as we see it on the outlook situation as we see it on the outlook for the economy. the outlook for growth outlook for the economy. the outlook for growth and unemployment has improved~ for growth and unemployment has improved. six months ago we expected a shallow improved. six months ago we expected a shallow but long recession. since then energy prices have fallen substantially and economic activity is holding substantially and economic activity is holding up better than expected. so today is holding up better than expected. so today we forecast modest but not positive so today we forecast modest but not positive growth and a much smaller increase positive growth and a much smaller increase in positive growth and a much smaller increase in unemployment. we think inflation increase in unemployment. we think inflation will fall quite sharply over inflation will fall quit ....
Was published this morning which is when we have as well, the aggregate position for the uk as a whole which doesn t tell the same story that the similar similar chart the ecb has published for the european area so not the same picture in terms of contributions. the not the same picture in terms of contributions. not the same picture in terms of contributions. the aggregate chart shows no increasing contributions. the aggregate chart shows no increasing profit - contributions. the aggregate chart shows no increasing profit share i contributions. the aggregate chartj shows no increasing profit share of national shows no increasing profit share of national income. on the general nature national income. on the general nature of national income. on the general nature of forecast, these are conditional forecasts so when the conditions conditional forecasts so when the conditions change the forecasts change conditions change the forecasts change may be other forecast change for o ....