Womenonics: how women will control the world's economy

'Womenomics': the new phrase you need to know

WOMENOMICS: COINED BY the Economist last year, the word describes the increasing power of women in the world's economy. Now, a new report claims womenomics is on the increase and as relevant in the UK as it is in the US.

'Not only do they dominate household spending decisions, they are now significant in categories that have been traditionally viewed as male, such as technology, cars and financial services,' notes one of the women interviewed for the Living Britain report.

The study - which reflected the Economist's view that women in the workplace have contributed more to the world's economy in the last decade than either China or new technology - adds: 'Women are becoming more important in the global marketplace not just as workers, but also as consumers, entrepreneurs, managers and investors. Women have traditionally done most of the household shopping, but now they have more money of their own to spend.'