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The global arms industry remains dominated by the US.In 2023, Lockheed Martin was the world’s largest arms producer, generating over $60 billion in arms revenue. The five largest arms companies were all based in the United States, followed by the UK’s BAE Systems.Click here to read Ron Smith on UK national security.
Renewables overtook coal as the world’s leading source of electricity in the first half of 2025, according to new data from Ember.But coal – still a major driver of global warming – remained the largest single source of power in 2024, generating 10,538 TWh.How quickly do you think coal’s role will decline? Or will it remain part of the mix for longer than expected?Click here to read Patrycja Klusak and Matthew Agarwala on meeting climate promises while maintaining fiscal sustainability.
The Bank of England kept interest rates at 4% in September, with a 7–2 vote by the Monetary Policy Committee. Two members backed a cut to 3.75%, but sticky inflation — CPI held at 3.8% in July and August — kept the majority cautious.The MPC also slowed the pace of quantitative tightening (reducing the stock of government bonds it holds), trimming planned gilt sales from £100bn to £70bn over the next year. This follows concerns that the Bank's policy and rate of bond sales, unusually high by international standards, has been inflating bond yields and government borrowing costs.The next MPC decision is due 6th November 2025.
Gold has climbed to an all‑time high today, rising past $ 3,500 per ounce amid growing expectations of a U.S. Federal Reserve rate cut and a softer U.S. dollar. Click on the chart to read Philip Fliers on why gold is seen as a safe haven asset.
The nuclear map is shifting.Russia and the USA still hold the lion’s share of global nuclear warheads — but their dominance is declining.In 2000, China had fewer than 1% of global warheads (≈350). By 2024, that share climbed to over 5% (≈500).Other countries like India, Pakistan, and North Korea are also growing their arsenals, reshaping the global nuclear landscape. The Cold War’s two-player world is giving way to a more multipolar nuclear era.#ChartOfTheDay
Property & private pensions make up the largest share of wealth for Britain’s richest households.But the picture looks very different lower down the wealth distribution. For middle-income households, property and pensions are still important, but financial wealth is modest. For the lowest deciles, physical assets — cars, household items, and possessions — account for almost all of what little wealth they hold.Inequality isn’t just about how much wealth households have, but also what kind of wealth it is.Click on the chart to read Duncan Maclennan & Jinqiao Long on 'How does the housing market affect wealth inequality?'.#ChartOfTheDay
This chart shows an example of reductions in the costs of new technologies over time, highlighting the dramatic fall in the real cost of computer memory and storage over time. In the space of just a few decades, the cost of computer (random access) memory dropped exponentially, from hundreds of trillions of dollars per terabyte in the 1950s to around a thousand dollars per terabyte today.
Global cocoa prices are up almost 18% on last year, following dry weather across West Africa and the spread of a disease affecting cacao trees.Click on the chart to read more about food inflation from Finn McEvoy.
This week is Farming Week at the Economics Observatory.Today's #ChartOfTheDay shows that productivity gains accounted for 51% of global agricultural output growth between 2011 and 2022. This marks a shift from the pre-1990s period, when the expansion of land, irrigation and inputs drove growth. Productivity growth in agriculture has allowed food to become more abundant and cheaper even as the world’s population has increased.
Stamp Duty Land Tax (SDLT) could be replaced with an annual levy on homes over £500,000.SDLT raises billions each year, accounting for 1% to 2.5% of all tax receipts. Any new system would need to deliver similar revenues.
On Monday, April 28, 2025, Canadians will vote in a federal general election to elect members of the House of Commons to the 45th Canadian Parliament. ?Over the past five months, polls have shown a sharp reversal in fortunes. Once trailing significantly, the Liberal Party, led by Mark Carney, now maintains a narrow lead.
In 1971, the UK’s female employment rate lagged men’s by nearly 40 percentage points. Today, that gap stands at just 6.4%. Interestingly, major economic shocks often spurred this convergence, as recessions hit male-dominated industries hardest. Economists refer to this as a “man-cession” effect, though it also reflects longer-term sectoral shifts that favour service and knowledge-based work. Other factors include the “added worker” effect—where some women join the labour force when male earnings drop—and the possibility of “forced renewal,” where post-layoff hiring opens doors for more women. So, do recessions boost gender equality—or simply speed up changes already in motion?Saturday 8th March
