Prospects for consumer spending to 2005

Article Abstract:

Buoyant consumer spending was the primary driver of economic growth in the UK in 1996 and 1997. Since the second half of 1998, however, a slowdown in household demand has weakened the pace of economic growth. This weakness in demand persisted in the first quarter of 1999. Further deceleration is expected for the rest of the year, although recession is not expected. In 2000, the economy may pick up as consumer spending increases once more. Analysis of economic trends also indicates that consumer spending may grow steadily at around 2.1% a year in the 2000 to 2005 period.

Personal Services Expend, Forecasts and trends, Economic development

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Prospects for consumer spending to 2005

Article Abstract:

Developments in UK consumer spending patterns and the prospects for household expenditure to 2005 are analyzed. Consumers spending slowed to 2.8% in 1998, from 4.1% in 1997. In the 1st qtr 1999, household spending increased by 1.4% from the previous quarter and was 2.5% higher over the same period in 1998. Retail sales in Jun 1999 was 3.7% higher than in 1998. Consumer spending growth is predicted to grow to 2.0% in 1999 and 2.1% in 2000.

Personal Consumption Expend, Statistics

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