Consumer credit surge prompts talk of rates hike

Article Abstract:

A recovery in consumer confidence, rising house prices, and an increase in household borrowing, are indicators of strong economy. There is speculation of a rise in interest rates after the general election, although this is likely to be conditional on a recovery in the United States.

National Income & Expenditure, Analysis, Interest rates

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Alarm bells ring as jobs total breaches record

Article Abstract:

The employment total in the UK has reached a record 27.35 million, or 74% of the potential workforce. At the same time, unemployment has declined to the levels achieved in 1980 and average earnings are showing signs of rising. These developments could indicate that the economy will start to come under pressure, but the Bank of England's Monetary Policy Committee has given little attention to the labour market. At present, this committee is only considering holding interest rates or reducing them, not increasing them.

Forecasts, trends, outlooks, Unemployment, Labor market

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Growth will rise and then fall back, predicts Labour's voice of caution

Article Abstract:

The UK will achieve economic growth of 1.75% in 1999, according to Chancellor Gordon Brown in his pre-Budget report. He forecasts that the economy will expand by between 2.5% and 3% in 2000, with growth falling back to between 2.25% and 2.75% in 2001 and 2002. Brown is generally cautious in making forecasts, and his estimates could be beaten again if the economy continues to expand, allowing flexibility for upward revision nearer an election. The pre-Budget report predicts that household spending growth will fall to 2.25% to 2.75% in 2000, from 4% in 1999.

Forecasts and trends, Economic policy, Economic development, Brown, Gordon (British politician)

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