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Economic Review, July 2007

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  • Anis Chowdhury

    (Office for National Statistics)

Abstract

Monthly review of economic and labour market trends in the UK.GDP continued to grow robustly in 2007 quarter one, driven mainly by the services sector, with little contribution from manufacturing output. On the expenditure side, business investment and household spending weakened. As a reflection of the UK's dynamic domesticdemand profile and unfavourable exchange rate position, the trade deficit widened through the quarter. The current account deficit narrowed in 2007 quarter one. The labour market remains buoyant despite showing tentative signs of weakening; average earnings remain subdued. The public sector finances deteriorated in May 2007. Consumer price inflation felland Producer price output inflation was unchanged in May 2007. Economic & Labour Market Review (2007) [1], 6–15; doi:10.1057/palgrave.elmr.1410100

Suggested Citation

  • Anis Chowdhury, 2007. "Economic Review, July 2007," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(7), pages 6-15, July.
    • Handle: RePEc:pal:ecolmr:v:1:y:2007:i:7:p:6-15
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