Recent UK Growth: A Comparison with France, Germany and the US

Ray Barrell, Robert Metz and Rebecca Riley

National Institute Economic Review, 2004, vol. 187, 53-57

Abstract: During the second half of the 1990s the UK economy enjoyed a sustained period of strong and stable growth. Since then the slowdown in the world economy that accompanied the collapse in equity markets has served until recently to moderate growth both domestically and abroad. But, in comparison to other major economies, the UK has so far emerged relatively unscathed. This could be the result of good fortune, well directed stabilisation policies or reformed institutions. Part at least of the relatively good growth performance displayed by the UK economy comes from stronger domestic demand. It is of course difficult to disentangle strong demand growth from the impacts on income of improved supply performance. We attempt to isolate those elements that are most clearly demand side stimulants.

Date: 2004
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