The UK economy [December 2001]

Ireland, Jonathan (2001) The UK economy [December 2001]. Quarterly Economic Commentary, 26 (4). pp. 13-15. ISSN 0306-7866

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The UK economy is clearly suffering as a result of the global slowdown and the political and economic uncertainty following the events of September 11th. However, the impact is relatively modest in comparison with some economies and there is a feeling among some commentators, the Chancellor of the Exchequer included, that the UK is relatively well placed to ride out the worst of the global slowdown. Consumption is relatively buoyant, and although there are signs of slackening activity in the labour market, by historical standards unemployment is still low and employment healthy.