Oxford Economic Country Briefings, December 10th, 2007
Highlights and Key Issues
* The economy rebounded by a better than expected 1.3% in Q3, thanks mostly to solid investment and a strengthening of private consumption. Survey data suggests some loss of momentum in Q4, but we now expect GDP growth of 1.6% in 2007 (up from 1.3% previously) and 1.7% in 2008.
* The outlook for consumption remains mixed. Q2 saw a further slowing of house price inflation, but the labour market picture remains solid -with falling unemployment and rising wage growth. We expect private consumption to grow 2.4% in 2007, before slowing to 1.7% in 2008.
* The general ele...
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