The British economy [September 1991]

James Love, Brian Ashcroft, Neil Dourmashkin, Paul Draper, Stewart Dunlop, Eleanor Malloy, Claire Monaghan, Peter McGregor, Iain McNicoll, Eric McRory, Roger Perman, Kim Swales, Ya Ping Yin, James Love (Editor), Fraser of Allander Institute

Research output: Contribution to journalArticle

Abstract

This article provides an analysis of the most recent economic data pertaining to the British economy. The most recent data indicate the UK economy is continuing in the trough of the recession and that there is unlikely to be much of an upturn before 1992. In the first quarter of 1991, the average measure of GDP at current market prices - nominal or 'money' GDP - rose by 0.3% during the quarter to a level 3.2% higher than the same period a year earlier. The rate of growth of
money GDP was therefore significantly slower than the 1.4% recorded during the fourth quarter of 1990 and below the average for the preceding three quarters of the year. After allowing for price changes, the average measure of GDP at constant market prices - 'real' GDP - fell by 0.5% in the first quarter compared with reductions of 0.9% and 1.4% in the fourth and third quarters of 1990, respectively, and increases of 0.9% and 0.4%, respectively, during the second and first quarters of the year.
LanguageEnglish
Pages6-9
Number of pages4
JournalQuarterly Economic Commentary
Volume17
Issue number1
Publication statusPublished - 1991

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Market price
GDP growth
Recession
Economic data
Price changes
Real GDP

Keywords

  • British economic trends
  • British economic forecasts
  • economic performance
  • United Kingdom
  • macroeconomic trends
  • GDP growth
  • consumer spending trends

Cite this

Fraser of Allander Institute (1991). The British economy [September 1991]. Quarterly Economic Commentary, 17(1), 6-9.
Fraser of Allander Institute. / The British economy [September 1991]. In: Quarterly Economic Commentary. 1991 ; Vol. 17, No. 1. pp. 6-9.
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Fraser of Allander Institute 1991, 'The British economy [September 1991]' Quarterly Economic Commentary, vol. 17, no. 1, pp. 6-9.

The British economy [September 1991]. / Fraser of Allander Institute.

In: Quarterly Economic Commentary, Vol. 17, No. 1, 1991, p. 6-9.

Research output: Contribution to journalArticle

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T1 - The British economy [September 1991]

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AU - Ashcroft, Brian

AU - Dourmashkin, Neil

AU - Draper, Paul

AU - Dunlop, Stewart

AU - Malloy, Eleanor

AU - Monaghan, Claire

AU - McGregor, Peter

AU - McNicoll, Iain

AU - McRory, Eric

AU - Perman, Roger

AU - Swales, Kim

AU - Yin, Ya Ping

AU - Fraser of Allander Institute

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AB - This article provides an analysis of the most recent economic data pertaining to the British economy. The most recent data indicate the UK economy is continuing in the trough of the recession and that there is unlikely to be much of an upturn before 1992. In the first quarter of 1991, the average measure of GDP at current market prices - nominal or 'money' GDP - rose by 0.3% during the quarter to a level 3.2% higher than the same period a year earlier. The rate of growth ofmoney GDP was therefore significantly slower than the 1.4% recorded during the fourth quarter of 1990 and below the average for the preceding three quarters of the year. After allowing for price changes, the average measure of GDP at constant market prices - 'real' GDP - fell by 0.5% in the first quarter compared with reductions of 0.9% and 1.4% in the fourth and third quarters of 1990, respectively, and increases of 0.9% and 0.4%, respectively, during the second and first quarters of the year.

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Fraser of Allander Institute. The British economy [September 1991]. Quarterly Economic Commentary. 1991;17(1):6-9.