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United Kingdom: 2013 Article IV Consultation

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  • 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.

Suggested Citation

  • International Monetary Fund, 2013. "United Kingdom: 2013 Article IV Consultation," IMF Staff Country Reports 2013/210, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/210
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=40785
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    Cited by:

    1. Harald Oberhofer & Christian Glocker & Werner Hölzl & Peter Huber & Serguei Kaniovski & Klaus Nowotny & Michael Pfaffermayr & Monique Ebell & Nikolaos Kontogiannis, 2016. "Single Market Transmission Mechanisms Before, During and After the 2008-09 Crisis. A Quantitative Assessment," WIFO Studies, WIFO, number 59156, April.
    2. Mr. Tao Wu, 2014. "Unconventional Monetary Policy and Long-Term Interest Rates," IMF Working Papers 2014/189, International Monetary Fund.

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