Social Sciences
8 years ago

Global economy set for rapid growth in 2005, benefiting UK markets.

Forecasts of the Scottish economy [February 2005]
Kenneth Low

Paper Summary

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Social Sciences
5 years ago

Global economy shows signs of recovery, US growth forecasted at 2.9%.

Regional Development

The world economy is growing strong, led by the US, China, and Japan. The Euro Area is expected to improve in 2005-06. World trade is growing rapidly, driven by China and Asia. The UK is benefiting from growth and trade with the US and China. UK GDP growth was unexpected in 2004Q3 but improved in the fourth quarter. Employment is strong, unemployment is low, and inflation is stable. Interest rates are steady at 4.75%. Consumption, government spending, and investment are driving UK growth.