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Chapter I. The Home Economy

Published online by Cambridge University Press:  26 March 2020

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Extract

Developments so far this year have been closely in line with the forecasts we published in February and in May. As expected, output fell in the first half of the year and the prospect is still for a slight recovery by the end of the year. As expected, inflation has been falling rapidly, and the prospect is still for a rate under 5 per cent by the end of the year. The current account deficit on the balance of payments is much reduced, whilst the public sector again has a borrowing requirement. With the continued slowdown in activity, unemployment has risen sharply, and it is still expected to continue rising in 1992.

Type
Articles
Information
National Institute Economic Review , Volume 137 , August 1991 , pp. 7 - 23
Copyright
Copyright © 1991 National Institute of Economic and Social Research

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Footnotes

The forecasts were prepared by Andrew Britton, Nigel Pain and Soterios Soteri, but they draw on the work of the whole team engaged in macroeconomic analysis and modelbuilding at the Institute. Part One of the chapter was written by Andrew Britton, Part Two by Nigel Pain.