The British economy [December 1988]

Brian Ashcroft; Jim Love; Stephen Boyle; Paul Draper; Stewart Dunlop; Janet Grehan; Frank Harrigan; John Heeley; Cliff Lockyer; Eleanor Malloy; Claire Monaghan; Peter McGregor; Iain McNicolI; Roger Perman; Jim Stevens; Brian Ashcroft; Jim Love

The British economy [December 1988]

Brian Ashcroft, Jim Love, Stephen Boyle, Paul Draper, Stewart Dunlop, Janet Grehan, Frank Harrigan, John Heeley, Cliff Lockyer, Eleanor Malloy, Claire Monaghan, Peter McGregor, Iain McNicolI, Roger Perman, Jim Stevens, Brian Ashcroft (Editor), Jim Love (Editor)

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Abstract

The growth of the UK economy continues at a brisk rate. Manufacturing output is especially buoyant. The absence of evidence suggesting a moderation in output growth reflects the continuing strong rate of growth in domestic demand. There is little hard evidence to date of a slow-down in consumer demand. Domestic demand growth continues to outstrip both output growth and the supply capacity of the economy. This is despite the current 'boom' in investment. The deficit on current account therefore continues to deteriorate. The underlying trade position is precarious and is symptomatic of high domestic demand and inflationary pressure. With many indicators pointing in an upward direction, the prospects for inflation are therefore the most immediate cause for concern.

Original language	English
Pages (from-to)	6-13
Number of pages	8
Journal	Quarterly Economic Commentary
Volume	14
Issue number	2
Publication status	Published - 1 Dec 1988

Keywords

Scottish economy
Fraser of Allander
British economic conditions

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AU - Ashcroft, Brian

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AU - Boyle, Stephen

AU - Draper, Paul

AU - Dunlop, Stewart

AU - Grehan, Janet

AU - Harrigan, Frank

AU - Heeley, John

AU - Lockyer, Cliff

AU - Malloy, Eleanor

AU - Monaghan, Claire

AU - McGregor, Peter

AU - McNicolI, Iain

AU - Perman, Roger

AU - Stevens, Jim

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A2 - Love, Jim

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N2 - The growth of the UK economy continues at a brisk rate. Manufacturing output is especially buoyant. The absence of evidence suggesting a moderation in output growth reflects the continuing strong rate of growth in domestic demand. There is little hard evidence to date of a slow-down in consumer demand. Domestic demand growth continues to outstrip both output growth and the supply capacity of the economy. This is despite the current 'boom' in investment. The deficit on current account therefore continues to deteriorate. The underlying trade position is precarious and is symptomatic of high domestic demand and inflationary pressure. With many indicators pointing in an upward direction, the prospects for inflation are therefore the most immediate cause for concern.

AB - The growth of the UK economy continues at a brisk rate. Manufacturing output is especially buoyant. The absence of evidence suggesting a moderation in output growth reflects the continuing strong rate of growth in domestic demand. There is little hard evidence to date of a slow-down in consumer demand. Domestic demand growth continues to outstrip both output growth and the supply capacity of the economy. This is despite the current 'boom' in investment. The deficit on current account therefore continues to deteriorate. The underlying trade position is precarious and is symptomatic of high domestic demand and inflationary pressure. With many indicators pointing in an upward direction, the prospects for inflation are therefore the most immediate cause for concern.

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KW - British economic conditions

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JO - Quarterly Economic Commentary

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ER -

The British economy [December 1988]

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Keywords

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