Despite the concern shown by the financial markets following the publication of the DTI's provisional retail sales figures for May, the balance of the evidence is that the economy is slowing down. What cannot be guaranteed is that the tightening of domestic demand will produce an outturn which has been described as a "soft landing". High earnings growth and the recent marked fall in sterling are likely to push the RPI above earlier expectations and, as base rates edge higher, the prospect of the economy avoiding a recessionary outcome almost certainly diminishes.
|Number of pages||8|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - 1 Jun 1989|
- Fraser of Allander
- British economic activity
- British economic conditions