The British economy [September 1988]

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

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Abstract

Earlier prognostications of a slow-down in the rate of growth of output in the British economy have been confounded by recent evidence. Continuing high levels of output growth are a reflection of rapid growth in domestic - and particularly consumer - demand. But domestic demand is growing at a much faster rate than output and there are indications that the differential increased during the second quarter and middle of the year. The inevitable result has been a marked deterioration in the balance of payments. The government's use of interest rate policy as the sole instrument regulating the expansion of domestic demand leaves much to be desired.
Original languageEnglish
Pages (from-to)6-14
Number of pages9
JournalQuarterly Economic Commentary
Volume14
Issue number1
Publication statusPublished - 1 Sep 1988

Keywords

  • Fraser of Allander Institute
  • British economic conditions
  • British economy

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    Ashcroft, B., Love, J., Battu, H., Boyle, S., Draper, P., Dunlop, S., Grehan, J., Harrigan, F., Heeley, J., Lockyer, C., Monaghan, C., McGregor, P., McNicoll, I., Perman, R., Stevens, J., Ashcroft, B. (Ed.), & Love, J. (Ed.) (1988). The British economy [September 1988]. Quarterly Economic Commentary, 14(1), 6-14.