The NFU's economic intelligence team has produced a new State of the Farming Economy briefing for April 2019.
The document provides a snapshot of the state of the farming economy including the current economic and farming situation in a post-Brexit economy. It also gives an insight into the medium-term prospects for the food and farming sector and why agriculture is important to the national economy.
What's in the briefing?
- Updated commodity price analysis and outlook
- The UK economy grew by 0.3% in the three months to February 2019
- UK inflation increased to 1.9% in February, but still below the Bank of England’s 2% target
- The number of people employed in the UK reaches a record high of 32.7 million people
- Real wage growth stands at 1.4% - the strongest rate it has been in more than 2 years
- UK grocery sector remains in growth with sales of 1.4% in the 12 weeks to 24 March 2019
- UK food and drink exports are up 2.5% to £22.6bn in 2018
- Updated data shows agri-food sector contributed £121.7 billion to the UK economy in 2017
- Number of people employed in the agri-food sector hits 4 million in Q3 2018