Spread of effect ive personal loan rat e rat es over Bank of England repo rat e  12  BIS Review 16/2005  Chart 11: Composition of UK PNFC sector gross debt Ot her debt Securit ies ot her t han shares Borrowing from non-UK resident MFIs Borrowing from UK resident MFIs  Per cent 120 100 80 60 40 20 0  1990  1992  1994  1996  1998  2000  2002  2004  Chart 12: Corporate credit spreads  Basis points  Basis points  1000  300  High yield (lhs)  800  250 200  600  BBB (rhs) 400 200 0 2000  150  AA (rhs)  100 50  AAA (rhs)  0 2001  2002  2003  2004  2005  Source: M errill Ly nch Op tion-adjusted corp orate bond sp reads  BIS Review 16/2005  13  Chart 13: Share of world imports in world GDP  1995 = 1 1.5 1.2 0.9 0.6 0.3 0.0 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003  Source: UN (pre-1980); IMF WEO Summer 2004 database (post-1980)  Chart 14: Import shares in consumption and business investment expenditures  Per cent 45 40 35 30  Business investment  25 20 15  Consumption  10 5 1970  1975  1980  1985  1990  1995  2000  Table 3: Value of sales over the internet by UK non-financial sectors  £  2002 2003  Households Business-to- Total business 6.4 11.4  12.7 28.2  19.0 39.5  Source: ONS  14  BIS Review 16/2005  Chart 15: Distribution sector profits (margins)  Percentage of output at basic prices 25.0  Retail 20.0  Total distribution sector  15.0  Wholesale  10.0 5.0 0.0  1992  1994  1996  1998  2000  2002  Chart 16: Output price inflation and CPI goods price inflation  Percentage change on a year earlier 4.0 3.0  Producer output prices  2.0 1.0 0.0 -1.0  CPI goods  1997  BIS Review 16/2005  1998  1999  2000  2001  2002  2003  2004  -2.0 -3.0 2005  15  Chart 17: Domestically produced manufactured goods: costs and prices  Percentage change on a year earlier  Percentage changes on a year earlier 8.0 Input prices (lhs)  15.0 10.0  Unit wage costs (rhs)  6.0 4.0  5.0  2.0 0.0  0.0  -2.0  -5.0  -4.0 -10.0  Output prices (rhs)  -6.0  -15.0 1996 1997 1998 1999 2000 2001 2002 2003 2004  -8.0  Chart 18: Private sector productivity  Percentage changes on a year earlier 5.0  Per hour  4.0  Per head 3.0 2.0 1.0  Per job  0.0 1995  1997  1999  2001  2003  Source: LFS, workforce jobs dat a and Bank  16  BIS Review 16/2005  Chart 19: Private sector factor utilisation (based on production functions)  Elasticity of Substitution = 0.5 Elasticity of Substitution = 1  1986  1990  1994  Percentage deviation of output from trend 8 6 4 2 0 -2 -4 -6 -8 1998  2002  Source: Bank calculat ions.
Chart 8: Proportion of part-time workers  Percentage of total employed 30 25 20 15 10 1985  1988  1991  1994  1997  2000  2003  Source: ONS and Bank calculations  BIS Review 16/2005  11  Chart 9: Real household disposable income growth and terms of trade  Percentage change on a year earlier 8.0  1990 = 100 112  Real household income growth  6.0 108  4.0 2.0  104  0.0 100  -2.0  Terms of trade  -4.0  96  -6.0 -8.0 1990  92 1992  1994  1996  1998  2000  2002  2004  Chart 10: Margins on personal loans to households  Per cent 10.0 8.0 6.0 4.0 2.0 0.0 1993  1995  1997  1999  2001  2003  Source: Bank calculat ions.