Oxford Economic Country Briefings, June 26th, 2007
Highlights and Key Issues
* The economy expanded by a robust 0.7% quarter-on-quarter in Q1 , supported by buoyant investment and consumer spending growth, while on an annual basis Q1 GDP grew by a stronger-than-expected 2.9%. Coupled with an upward revision to fixed investment growth, this has pushed up our 2007 growth forecast to 2.7% from the previous 2.4%.
* The domestic investment cycle remains very strong, with fixed investment surging by 3.6% in Q1 from the previous quarter. Sound corporate profitability means firms have plenty of cash to spend and they are being encouraged to do so th...
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