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At a Glance …

The UK economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • • The budget was expansionary, bringing about a cumulative fiscal loosening of 1.5-2 per cent of GDP over the next four years.

  • • As a consequence, the pound and long-term interest rates will be higher, while immediate pressure to raise short-term rates is reduced.

  • • After a further quarter point increase in the repo rate to 6.25 per cent, we expect a pause in monetary tightening for the rest of the year.

  • • Sterling's strength will hit manufacturing which will grow by only 1.2 per cent in 2000, compared with overall GDP growth of 2.8 per cent.

  • • Despite continuing low claimant unemployment and earnings growth of 5.5 per cent in 2000, the labour market is not over-stretched.

Type
Articles
Information
National Institute Economic Review , Volume 172 , April 2000 , pp. 2
Copyright
Copyright © 2000 National Institute of Economic and Social Research

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