United Kingdom: 2001 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom

March 7, 2002

Preview Citation

Format: Chicago

United Kingdom: 2001 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom, (USA: International Monetary Fund, 2002) accessed December 23, 2024

Summary

This 2001 Article IV Consultation highlights that in 2001, the economy of the United Kingdom grew faster than any other G-7 economy. Despite the slowdown in world demand, output grew by 2.4 percent reflecting strong domestic demand. Private consumption remained buoyant, fueled by several years of strong earnings and employment growth, low interest rates, and rising housing wealth, which largely offset the adverse impact of lower equity prices on consumer spending. Following several years of robust growth, private investment was hit by the downturn in the information and telecommunications sector.

Subject: Consumption, Expenditure, Fiscal policy, National accounts, Private investment, Public debt, Revenue administration

Keywords: Consumption, CR, GDP, Global, Government, Investment rule, ISCR, Monetary policy, Policy, Productivity gap, Support investment, U.K. economy, UK monetary policy, Upside risk

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/039
Stock No:

1GBREA0012002
ISBN:

9781451814118
ISSN:

1934-7685

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