The IMF expects Britain to still be the fastest growing economy amongst the seven leading industrialised nations despite slashing its growth forecasts. It says growth will remain relatively resilient buoyed by growth in domestic demand and the easing of monetary policy.
The Fund predicts that Britain will grow by 1.8% next year, a 0.6 percentage point reduction on last month’s estimate and below the long term trend rate. It says Japan will experience another year of contracting output and the US and Germany will see growth rates of less than 1%.
21-Nov-2001
