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Outlook and appraisal [August 1984]

Kirwan, Frank and Buchanan, Bob and Draper, Paul and Heeley, John and Jenkins, Iain and Love, James and McGilvray, James and McNicolI, Iain and O'Donnell, Noreen and Simpson, David and Stevens, Jim and Walker, Jim (1984) Outlook and appraisal [August 1984]. Quarterly Economic Commentary, 10 (1). pp. 1-16. ISSN 2046-5378

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Growth in the British economy came almost to a halt during the first half of this year. As a result , even a speedy resolution of the coal dispute would be unlikely to push the GDP growth rate this year above 2.5 Though much of July's interest rate increase has already been reversed, it is likely to prove more difficult to reverse the effects on the retail price index and thus attain the goal of H.5% inflation at the end of the year. The uncompetitive nature of the housing finance market makes a speedy and full unwinding of the recent rise in mortgage rates unlikely.