The British economy [March 1991]

, ed. (1991) The British economy [March 1991]. Quarterly Economic Commentary, 16 (3). pp. 7-11. ISSN 0306-7866

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The British economy is clearly now well into the down phase of the growth cycle. It is likely that GDP will begin to increase again during the second half of the year, however, employment and unemployment are unlikely to improve until 1992. Recovery is constrained by the current parity for sterling within the ERM and the upward pressure on German interest rates due to unification.