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95-UKEconomy2011Summary - The UK Economy at a Glance change...

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© Tutor2u Limited April 2011 Author Geoff Riley downloaded from www.tutor2u.net The UK Economy at a Glance % change in each variable each year unless stated 2009 2010 2011 Comment Consumer spending -3.3 1.3 -0.5 Set to fall in 2011 due to a steep fall in real incomes, higher taxes and weakening confidence. A double-dip in housing will hit personal wealth Government consumption 1.0 1.2 -1.0 Squeeze on real Govt spending starts in 2011 and intensifies in 2012 when spending is set to fall by 2%. Big fiscal austerity is now in place Investment -15.4 3.5 5.5 Deep cut in capital spending during the recession year of 2009 but two better years in 2010 and 2011 helped by lower interest rates Stock-building (% GDP) -1.2 0.1 0.5 Many firms cut back on stocks/ production in 2009, some signs of a recovery in inventories in 2011 as some businesses anticipate an upturn Domestic demand -5.5 2.7 0.8 Growth in C+I+G was strongly negative in 2009 (a largely home-made recession) A rebound in 2010 but weaker demand in 2011 (falling G) Exports -10.1 5.3 6.5 Exports hit by sharp fall in global output/trade in 2009. More positive in 2010 and again in 2011 with weaker sterling and global rebound helping
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