Big regional differences as economy slows

Article Abstract:

The UK economy is experiencing a slowdown in response to the pressures of inflation, an unfavorable balance of payments, and increased interest rates. While most of the non-oil economy will probably have an even slower growth rate in 1990, manufacturing will grow faster than the rest of the economy. The present increase in manufacturing has lead to the redevelopment of decaying areas and a number of construction projects are going on in the inner cities, boosting growth in the west Midlands and the north. Companies may have to relocate from the south due to labor shortages, restrictions against new construction, and a local economy characterized by a decreasing percentage of disposable income. Companies may find Northern England a viable alternative to relocating to France due to the low cost of land, prime geographical location, and lack of labor shortages.

Gross domestic product, Regional economics

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Service sector hit by changed recession cycle

Article Abstract:

The UK service sector has been hard hit by the 1990-91 recession, which is unique as recessions traditionally hit the manufacturing sector hardest. In the last recession of 1980, which was caused by the 1979 surge in oil prices, the manufacturing sector was hit harder than the service sector. The current recession, which has its roots in the economic boom of 1987-88, has been characterized by poor performance by the services sector. Manufacturing employment has dropped 2.5% during the recession while service sector employment has remained steady, but layoffs in the service sector are highly likely, particularly in southeastern England, and should continue for a year.

Manufacturing industry, Manufacturing industries, Unemployment, Services industry, Service industries, Recessions, column

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The UK economy: miracle or mirage?

Article Abstract:

The UK economic prosperity, engineered by Margaret Thatcher and the Conservative Party, has reduced unemployment and encouraged economic growth, but questions exist about whether the positive climate can last. Accurate and reliable statistics about the position of the economy have not been available because of the changes in the structure of the economy, so it is difficult to project what will happen in the future.

Management, Economic development, Thatcher, Margaret, Budget deficits

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