UK overview

Article Abstract:

Overall consumption in the UK is estimated to have increased by almost 4% in 1999 from 1998. Consumer spending is high, and this led to the household saving ratio declining to only 4.5% in the third quarter of 1999, the lowest level since 1989. Business investment dropped by 1% in the third quarter of 1999, but was still 5.8% higher than in the year-earlier period. Economic growth has been stronger than anticipated, and this means that the government budget surplus is set to reach 10 billion pounds sterling in the current financial year.

Gross Private Savings, New Plant & Equipment, Savings

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United States

Article Abstract:

US economic growth probably slowed down only marginally in the fourth quarter of 1999, at an annual rate of around 5%. Employment growth is still strong, which will ensure that disposable income continues to rise and consumer confidence remains high. It is also expected that investment will remain strong in the short term. It seems likely that the Federal Reserve will regard the strength of the economy in the fourth quarter of 1999 as representing too great a risk of higher inflation to ignore.

Prices, National Income & Expenditure, Analysis, Forecasts and trends, Inflation (Finance), United States economic conditions

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UK overview

Article Abstract:

The sharp rise in house prices in the UK is acting as a driving force for a new consumer boom, with retail sales rising by 1.3% in the three months to Aug 1999 from the previous three months. Gross domestic product probably grew more rapidly than its long-term trend in the third quarter of 1999, while unemployment on the claimant basis fell to only 4.2%. There is evidence of a recovery in trade performance, with exports rising 4.3% in the three months to Jul 1999.

Gross Domestic Product, Exports of Goods & Services

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