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The UK Economy [July 2007]

Low, Kenneth (2007) The UK Economy [July 2007]. Quarterly Economic Commentary, 31 (4). pp. 17-20. ISSN 0306-7866

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The world economy is still in good shape despite the recent slowdown in the US housing market and the consequent knock on into weak growth in the first quarter of 2007. China and India continue to grow at very fast rates as do a number of Far East economies. Economic performance in Japan and in the Euro Area was stronger than expected. Higher oil prices had previously pushed inflation up throughout the world economy but there are signs that in most major economies that inflation will be brought back to relatively low levels by the end of the year.