Growth in the British economy came almost to a halt during the first half of this year. As a result , even a speedy resolution of the coal dispute would be unlikely to push the GDP growth rate this year above 2.5 Though much of July's interest rate increase has already been reversed, it is likely to prove more difficult to reverse the effects on the retail price index and thus attain the goal of H.5% inflation at the end of the year. The uncompetitive nature of the housing finance market makes a speedy and full unwinding of the recent rise in mortgage rates unlikely.
|Number of pages||16|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - 1 Aug 1984|
- Fraser of Allander
- Scottish economic activity
- Scottish economic outlook