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The UK Economy

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  • Pain, Nigel
  • Weale, Martin

Abstract

After a pronounced slowdown at the turn of the year, economic growth has recovered during the course of 2002. Revised estimates now suggest that GDP rose by 0.6 per cent in the second quarter and, based on our monthly GDP projections, we estimate that growth was 0.5 per cent in the third quarter, marginally below trend rates. It now appears increasingly unlikely that the Budget forecast of 2-2½ per cent growth in 2002 can be attained, and we expect to see growth of 1.4 per cent for the year as a whole.

Suggested Citation

  • Pain, Nigel & Weale, Martin, 2002. "The UK Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 182, pages 37-43, October.
  • Handle: RePEc:cup:nierev:v:182:y:2002:i::p:37-43_4
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