Oxford Economic Country Briefings, April 26th, 2007
Highlights and Key Issues
* Industrial growth remains robust, with optimism in manufacturing boosted by overseas orders. However, the services sector is expected to be less dynamic - a reflection of the subdued consumer. The economy is relying on the stimulus from external demand in the near term, but we expect economic growth to become more balanced later in 2007 and in 2008, as consumer demand and investment begin to pick up. Overall, we forecast GDP to grow by 1.7% in 2007, with a similar pace likely in 2008.
* But consumer confidence is slipping and retail sales are slowing. Moreover, pe...
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