United Kingdom: 2013 Article IV Consultation

July 17, 2013

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United Kingdom: 2013 Article IV Consultation, (USA: International Monetary Fund, 2013) accessed November 26, 2024

Summary

This staff report on United Kingdom’s (UK) 2013 Article IV Consultation highlights economic policies and development. The UK economy grew by about ¼ percent in 2012. Net trade reduced growth by 0.6 percentage points of GDP, the biggest drag since 2005, and well above staff projections. Domestic fixed capital investment was essentially flat, leaving household spending the main source of private demand, but still substantially below long-run potential growth. In terms of production, construction has been particularly affected by the financial crisis, and the mining sector has been experiencing a secular decline, accelerated in part by temporary shutdowns in North Sea oil extraction.

Subject: Banking, Credit, Financial institutions, Financial statements, Inflation, Loans, Money, Output gap, Prices, Public debt, Public financial management (PFM)

Keywords: CR, Credit, Financial statements, Global, Government strategy, Holdings of SDR, IMF staff estimate, Inflation, Information Notic system, ISCR, Liability positions vis-à-vis nonresident, Loans, Money market rate, Month consultation cycle, UK economic recovery

Publication Details

Pages:

144
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/210
Stock No:

1GBREA2013001
ISBN:

9781484385456
ISSN:

1934-7685

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