Recovery 'will hit further snags.' (OECD report on UK economic recovery)

Article Abstract:

The Organisation for Economic Co-operation and Development (OECD) publishes 'Economic Outlook' twice a year, in which the Jun 1992 edition explains why British economic recovery is likely to be slow in 1992. It predicts a 0.4% growth in 1992 and 2.6% in 1993. Unemployment is expected to stay up at about 3 million in 1993. Worldwide, it recommends fiscal correctness and plans to limit unemployment. The time taken to reduce debt levels is a major risk to recovery from recession.

Management, Reports, Economic forecasting, Organization for Economic Cooperation and Development

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Pressure mounts on Major to change economic policy

Article Abstract:

A Confederation of British Industry (CBI) survey showed that the recession was likely to continue after July 1992, so the CBI recommended a lowering of interest rates in Europe. This might necessitate revaluation of the German mark but unilateral devaluation is not suggested. Some MPs (Members of Parliament) criticised the Chancellor, Mr Lamont, over the minimum VAT rates agreed in Brussels, and accused the Prime Minister, John Major, of inaction to change economic policy.

Public opinion, Confederation of British Industry

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On the ropes and no end in sight

Article Abstract:

Manufacturing output dropped in Aug 1992 and unemployment increased to 2.84 million, casuing some MPs (Members of Parliament) dissatisfaction with the lack of government action to improve the economy. Inflation has been the Chancellor's main concern at the expense of the general economy. Some call for his resignation unless interest rates are cut. Unemployment rates in southern England trebled between May and August 1992, bringing them closer to those in the north.

Manufacturing industry, Manufacturing industries, Statistics, Inflation (Finance), Unemployment, United Kingdom. Parliament. House of Commons, Inflation (Economics)

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