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The UK economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • The economy will shrink by 4.3 per cent this year, and then experience a weak recovery, with GDP rising by 0.9 per cent in 2010.

  • The unemployment rate will peak at 9.6 per cent in 2011.

  • Consumer spending will fall by 3.7 per cent this year and a further 1.1 per cent in 2010.

  • The recovery will be driven by net trade, which will contribute 1.2 per cent to GDP growth in both 2010 and 2011.

  • The medium-term outlook for government finances is grim, with public sector net borrowing forecast at 8.6 per cent of GDP in 2013–14

Type
Articles
Information
National Institute Economic Review , Volume 208: Ten Years of EMU , April 2009 , pp. 3
Copyright
Copyright © 2009 National Institute of Economic and Social Research

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