Hostname: page-component-78c5997874-8bhkd Total loading time: 0 Render date: 2024-11-13T04:18:04.897Z Has data issue: false hasContentIssue false
  • English
  • Français

Prospects for the UK Economy

Published online by Cambridge University Press:  26 March 2020

Simon Kirby ,
Ray Barrell  and
Rachel Whitworth
Get access Rights & Permissions [Opens in a new window]

Extract

The performance of the UK economy has deteriorated markedly since autumn 2010. The volatility of output due to the adverse weather experienced last winter masks the underlying weakness in the UK economy. The Office for National Statistics (ONS) preliminary estimate of GDP suggests the underlying level of output has been flat since the third quarter of 2010. We expect the economy to grow from the second quarter of this year onwards, as we can see from figure 1, but we continue to expect this growth to be relatively weak. We expect GDP growth of 1.4 per cent per annum this year, rising to 2 per cent in 2012.

Type
The UK Economy
Information
National Institute Economic Review , Volume 216 , April 2011 , pp. F39 - F61
Copyright
Copyright © 2011 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Barrell, R. and Dury, K. (2003), ‘Asymmetric labour markets in a converging Europe: do differences matter?’, National Institute Economic Review, 183, pp. 56–65.CrossRefGoogle Scholar
Barrell, R., Gottschalk, S., Kirby, S. and Orazgani, A. (2009), ‘Projections of migration inflows under alternative scenarios for the world economy’, Department for Communities and Local Government economics paper no. 3.Google Scholar
Barrell, R. and Kirby, S. (2011), ‘Trend output and the output gap in the UK’, National Institute Economic Review, 215, pp. F63–74.CrossRefGoogle Scholar
Bell, D.N.F. and Blanchflower, D. (2010), ‘UK unemployment in the Great Recession’, National Institute Economic Review, 214, October.CrossRefGoogle Scholar
Department for Work and Pensions (2011) A state pension for the 21st century, Cm 8053.Google Scholar
Dow, C. (1998), Major Recessions: Britain and the World, 1920–1995, Oxford University Press.Google Scholar
Haugh, D., Olivaud, P. and Turner, D. (2009), ‘The macroeconomic consequences of banking crises in OECD countries’, OECD Economics Department Working Paper no. 683, Paris, OECD.Google Scholar
Holland, D., Kirby, S. and Whitworth, R. (2010), ‘A comparison of labour market responses to the global downturn’, National Institute Economic Review, 211, pp. F38–42.CrossRefGoogle Scholar