The NFU's economic intelligence team has published its State of the Farming Economy briefing for December 2019.
The document provides a snapshot of the current economic situation and 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 suffered its weakest three months for more than a decade
- UK inflation rose at an annual rate of 1.5% in November, the lowest rate since November 2016
- UK unemployment fell to its lowest level since January 1975 in the three months to October
- Wage growth in the UK was 3.5% in the year to August to October 2019, slightly below the previous months figure of 3.6%
- Defra’s final estimate for Total Income from Farming (TIFF) in 2018 was £4.6bn
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