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At a glance…

The UK Economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • • GDP will grow at under half its trend rate in the rest of 1998; there is a one in three chance output will decline.

  • • We have lowered our forecast for growth in 1999 from 2.1 to 1.6 per cent; there is now a one in four chance of a recession next year.

  • • Earnings growth will fall to 3 per cent in 1999.

  • • Inflation will run at 2.2 per cent at the end of 1998 and 2.6 per cent in the last quarter of 1999.

  • • A minimum wage set at £3.70 an hour will cut employment in the long run by 1 per cent.

Type
Articles
Information
National Institute Economic Review , Volume 164 , April 1998 , pp. 2
Copyright
Copyright © 1998 National Institute of Economic and Social Research

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