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Economic outlook: United Kingdom

Article Abstract:

The UK economy is growing strongly according to recent GDP figures and GDP is expected to rise by 2.5% in 1996. The direction of the UK economy will be influenced by the forthcoming Budget, but the Chancellor is constrained by the state of public finances, with public sector borrowing at 16.1 billion pounds sterling in the first half of the financial year. There is expected to be a modest rise in interest rates during the next 12 months and some rise in borrowing costs is almost certain. Export activity is showing improvement, although export growth is expected to be blunted in 1997 by a stronger pound and increased domestic demand.

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Assessment

Article Abstract:

British economic indicators are assessed in the context of global economic trends, with some forecasts and parallels with previous business cycles.

Analysis, Economic indicators, Business cycles

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