The UK economy [April 1978]

David N. F. Bell; Michael W. Danson; M. E. Glassford; Frank X. Kirwan; James W. McGilvray; A. J. Morton; Alison A. Wingfield; Fraser of Allander Institute; David N. F. Bell

The UK economy [April 1978]

David N. F. Bell, Michael W. Danson, M. E. Glassford, Frank X. Kirwan, James W. McGilvray, A. J. Morton, Alison A. Wingfield, Fraser of Allander Institute, David N. F. Bell (Editor)

Fraser Of Allander Institute

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Abstract

Preliminary estimates suggest that United Kingdom real GDP barely rose above its 1976 level last year, and may indeed have fallen. This aggregate indicator reflects the poor performance of i t s components, a stagnant index of industrial production, a large shortfall in government capital expenditure and a depressed level of personal consumption. Nonetheless, the prospects for 1978 look somewhat more encouraging, and real GDP may grow by the order of 2½% to 3% on a calendar year basis. There are possibilities, however, that this more rapid pace of expansion may not be sustained much into 1979, as the current account of the balance of payments, and the rate of price inflation re-emerge as constraining factors.

Original language	English
Pages (from-to)	3-4
Number of pages	2
Journal	Quarterly Economic Commentary
Volume	3
Issue number	4
Publication status	Published - Apr 1978

Keywords

UK economic trends
British economic growth
GDP growth
economic recovery

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title = "The UK economy [April 1978]",

abstract = "Preliminary estimates suggest that United Kingdom real GDP barely rose above its 1976 level last year, and may indeed have fallen. This aggregate indicator reflects the poor performance of i t s components, a stagnant index of industrial production, a large shortfall in government capital expenditure and a depressed level of personal consumption. Nonetheless, the prospects for 1978 look somewhat more encouraging, and real GDP may grow by the order of 2½\% to 3\% on a calendar year basis. There are possibilities, however, that this more rapid pace of expansion may not be sustained much into 1979, as the current account of the balance of payments, and the rate of price inflation re-emerge as constraining factors.",

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AU - Bell, David N. F.

AU - Danson, Michael W.

AU - Glassford, M. E.

AU - Kirwan, Frank X.

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AU - Morton, A. J.

AU - Wingfield, Alison A.

AU - Fraser of Allander Institute

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N2 - Preliminary estimates suggest that United Kingdom real GDP barely rose above its 1976 level last year, and may indeed have fallen. This aggregate indicator reflects the poor performance of i t s components, a stagnant index of industrial production, a large shortfall in government capital expenditure and a depressed level of personal consumption. Nonetheless, the prospects for 1978 look somewhat more encouraging, and real GDP may grow by the order of 2½% to 3% on a calendar year basis. There are possibilities, however, that this more rapid pace of expansion may not be sustained much into 1979, as the current account of the balance of payments, and the rate of price inflation re-emerge as constraining factors.

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KW - British economic growth

KW - GDP growth

KW - economic recovery

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UR - http://www.strath.ac.uk/fraser/

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ER -

The UK economy [April 1978]

Abstract

Keywords

UN SDGs

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