From the Enlightened Economist, March 3:
Peakiness
The release of ONS figures on the consumption of physical materials in the UK got some attention earlier this week. The statistics show that in both total and per capita terms, there has been a long term decline in the amount of stuff involved in economic activity, although it’s still just over 10 tonnes per person each year (down from 15 tonnes in 2000). The new figures take account of trade and the fact that the UK is a net importer, particularly of manufactures – figures for earlier years, which also suggested a decline in the ‘weight’ of the UK economy, did not adjust for trade. The ‘resource productivity’ of the economy is increasing so we now get nearly £3 worth of GDP for every kilo of materials, up from £1.87 in 2000. The one resource whose use is not trending down is fossil fuels....MORE
