UK Economy; another false dawn

Article Abstract:

Gross domestic product (GDP) has again declined in the first few months of 1992, which suggests that manufacturing output stayed level. Some recent surveys show small improvements giving slight encouragement that the recession may be ending. Consumers are still paying off debt incurred in the past few years, and 'negative equity' in housing. The governement are under pressure to stimulate the economy into recovery by leaving the Exchange Rate Mechanism (ERM), but hopes are that lower German interest rates will lead to a drop in UK rates also.

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UK economy; managing the upturn

Article Abstract:

The UK economy was affected by the general election result in early 1992 when interest rates fell to 10% in May. More cuts depend on the German rates (due to ERM membership), the costs of reunification and their pay settlements. Manufacturing output went up by 1.1%, as did retail sales. House sales were at their lowest since 1977, and the current account deficit remained high. Inflation fell to 4%, further indicators were available in the UK forecast table.

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UK Economy; a question of confidence

Article Abstract:

Consumer confidence is seen as essential to economic recovery by economic forecasters. Consumers are still dealing with indebtedness, and a slow housing market and high unemployment are further barriers to ending the recession. Inflation has fallen from 11% in 1990 to 4.1% in Sept 1991 which is seen as positive.

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