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Economic Review,December 2008

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  • Anis Chowdhury

    (Office for National Statistics)

Abstract

Monthly review of economic and labour market trends in the UK.GDP output contracted in 2008 quarter three - driven by negative growth in services,manufacturing and construction output. On the expenditure side, household spending andbusiness investment showed a weak position in the second quarter. The current account defi citwidened in quarter three, whilst the goods trade deficit narrowed slightly. The labour marketshowed further signs of weakening in 2008 quarter three; average earnings remain relativelysubdued. Public sector finances deteriorated in September 2008. Consumer price infl ationincreased further in September 2008 and was considerably above the Government’s infl ationtarget. Producer output and input price inflationary pressures persisted in quarter three.

Suggested Citation

  • Anis Chowdhury, 2008. "Economic Review,December 2008," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 2(10), pages 6-14, December.
    • Handle: RePEc:pal:ecolmr:v:2:y:2008:i:12:p:6-14
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