Economic Review

Graeme Chamberlin
Additional contact information
Graeme Chamberlin: Office for National Statistics

Economic & Labour Market Review, 2011, vol. 5, issue 2, 20-31

Abstract: SummaryGross Domestic Product fell by 0.5 per cent in the final quarter of 2010 according to preliminary estimates. The Office for National Statistics judges that this contraction was mainly due to disruption caused by severe weather conditions in the run up to Christmas. However, even allowing for the effects of bad weather, GDP would otherwise have been broadly flat on the quarter ‐ marking a slowdown in growth from earlier in the year ‐ particularly in the services sector. In the calendar year 2010, public sector net borrowing excluding the impact of government intervention in the financial sector fell below 10 per cent of GDP. However, the current budget balance was broadly unchanged from 2009, with the fall in net borrowing reflecting a fall in public sector investment. Public sector net debt measures now include the liabilities of RBS and Lloyds Banking Group (LBG) ‐ and in December 2010 totalled 154.9 per cent of GDP. Excluding the government's interventions in the financial sector, public sector net debt was significantly lower at 59.3 per cent. Consumer prices inflation rose to 3.7 per cent in December, and continue to be driven by indirect taxes, energy prices and food prices.

Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.palgrave-journals.com/elmr/journal/v5/n2/pdf/elmr201115a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/elmr/journal/v5/n2/full/elmr201115a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:ecolmr:v:5:y:2011:i:2:p:20-31

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/41318

Access Statistics for this article

More articles in Economic & Labour Market Review from Palgrave Macmillan, Office for National Statistics
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().