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At a glance…

The UK Economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

Outlook for 1998

  • • Sharp slowdown to 1.5 per cent growth in the first half; a one in four chance of a recession

  • • Inflation to fall to 2.4 per cent by end-year despite average earnings growth of almost 5 per cent

  • • Unemployment rate to fall below 5 per cent

  • • Pound to fall to 2.80DM by end-year

  • • Interest rates to peak at 7.5 per cent this spring coming down to 7.25 per cent this autumn

  • • House prices to rise by 9 per cent.

  • • Fiscal position improving but no case for policy loosening

Outlook till end 2000

  • • Interest rates to fall to 5.25 per cent

  • • Pound to fall to 2.60DM

Type
Articles
Information
National Institute Economic Review , Volume 163 , January 1998 , pp. 2
Copyright
Copyright © 1998 National Institute of Economic and Social Research

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