The NFU's economic intelligence team has published its State of the Farming Economy briefing for August 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 contracted by 0.2% between April and June 2019
- UK inflation at three month high of 2.1% in July 2019
- Record number of people in employment at 32.8 million
- Wage growth in the three months to June is at highest levels since 2008 at 3.9%
- UK food and drink exports are up 2.5% to £22.6bn in 2018
- Agri-food sector contributed £121.7 billion to the UK economy in 2017
- Number of people employed in the agri-food sector hit four million in Q3 2018
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