Prospects for consumer spending to 2005

Article Abstract:

UK's consumer spending slowed in the second half of 1998 driven by low consumer confidence, the income tax payment hike and increasing uncertainty over job security, pay and interest rates. Consumer spending only grew by 2.75% in 1998 as compared to the 4% growth in 1997. For 1999, it is forecasted that consumer spending will continue to decline at a minimal rate. However, it is predicted that there will be moderately strong growth in consumer spending starting year 2000 because of the effects of Europe's monetary union.

Economic forecasting, Monetary unions

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Prospects for consumer spending to 2005

Article Abstract:

Consumer spending in the UK increased by 4.6% in 1997 and was the main contributor to economic growth during that year. It is expected to continue its role as an economic driver in 1998 although it would increase at a decelerated rate of 3.7% that year and 2.2% in 1999. Consumer spending is forecasted to increase by an average of 2% to 3% annually until the first decade of the new millennium, which is substantially lower than the growth seen during the 1980s.

Personal Consumption Expend

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Prospects for consumer spending to 2005

Article Abstract:

Consumer spending in the United Kingdom and its impact on the economy is analysed in detail. Continuing unexpected growth has seen household outgoings increase by 4.0% in 1999 and predictions for growth up to 2005 are presented.

Analysis

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