The UK economy [February 2005]

Kenneth Low

Research output: Contribution to journalArticle

Abstract

Growth in the world economy is relatively strong and strong trade growth is forecast. The UK is well placed to enjoy the benefits of trading with the US, expanding new markets in the Far East, especially China, to pick up from the forecast recovery in the Euro Area and to reap rewards from domestic demand. When UK GDP growth for 2004Q3 was recorded as only 0.4 per cent this was unexpected. Fourth quarter growth appears to be much stronger at 0.9 per cent. Employment remains relatively strong while unemployment is low. Inflation is also low and stable despite recent surges in both house price inflation and the oil price. Interest rates appear to have stabilised at 4.75 per cent. Consumption, government spending and investment are the main drivers of UK growth.
LanguageEnglish
Pages14-15
Number of pages2
JournalQuarterly Economic Commentary
Volume29
Issue number4
Publication statusPublished - Feb 2005

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Inflation
China
Euro area
GDP growth
Unemployment
World economy
Oil prices
Interest rates
House prices
Domestic demand
Government spending
Reward
New markets

Keywords

  • UK economic performance
  • UK GDP growth
  • macroeconomic trends

Cite this

Low, Kenneth. / The UK economy [February 2005]. In: Quarterly Economic Commentary. 2005 ; Vol. 29, No. 4. pp. 14-15.
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Low, K 2005, 'The UK economy [February 2005]' Quarterly Economic Commentary, vol. 29, no. 4, pp. 14-15.

The UK economy [February 2005]. / Low, Kenneth.

In: Quarterly Economic Commentary, Vol. 29, No. 4, 02.2005, p. 14-15.

Research output: Contribution to journalArticle

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