United Kingdom: 2013 Article IV Consultation

International Monetary Fund

No 2013/210, IMF Staff Country Reports from International Monetary Fund

Abstract: This staff report on United Kingdom’s (UK) 2013 Article IV Consultation highlights economic policies and development. The UK economy grew by about ¼ percent in 2012. Net trade reduced growth by 0.6 percentage points of GDP, the biggest drag since 2005, and well above staff projections. Domestic fixed capital investment was essentially flat, leaving household spending the main source of private demand, but still substantially below long-run potential growth. In terms of production, construction has been particularly affected by the financial crisis, and the mining sector has been experiencing a secular decline, accelerated in part by temporary shutdowns in North Sea oil extraction.

Keywords: ISCR; CR; liability positions vis-à-vis nonresident; money market rate; IMF staff estimate; UK economic recovery; government strategy; information Notic system; month consultation cycle; holdings of SDR; Financial statements; Credit; Inflation; Loans; Global (search for similar items in EconPapers)
Pages: 144
Date: 2013-07-17
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