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United Kingdom: 2001 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2002: Issue 039
Language:
English
Publication Date:
07 Mar 2002
DOI:
https://doi.org/10.5089/9781451814118.002
ISBN:
9781451814118
ISSN:
1934-7685
Pages:
54
Keywords:
ISCR; CR; U.K. economy; government; GDP; policy; monetary policy; productivity gap; UK monetary policy; upside risk; support investment; investment rule; Consumption; Global
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This 2001 Article IV Consultation highlights that in 2001, the economy of the United Kingdom grew faster than any other G-7 economy. Despite the slowdown in world demand, output grew by 2.4 percent reflecting strong domestic demand. Private consumption remained buoyant, fueled by several years of strong earnings and employment growth, low interest rates, and rising housing wealth, which largely offset the adverse impact of lower equity prices on consumer spending. Following several years of robust growth, private investment was hit by the downturn in the information and telecommunications sector.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund