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Let's Try to Catch Up with Mali; Britain's Economy
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 8843 no. 407 (Jul. 2013)
,
page 15-16.
Topik:
Economic Conditions
;
Gross Domestic Product--GDP
;
Productivity
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE19
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Britain is parched: revisions to GDP estimates released last week suggest that output is still 3.9% lower than its 2008 peak, a worse performance than any other G20 country except Italy. As confidence returns, it seems almost impolite to point out that the British economy still has a sickly core of weak investment, productivity and wages, and that hard policy decisions lie ahead. Britain's recovery so far has been hollow . Despite a much cheaper currency, exports continue to disappoint; the trade gap, at 2.2% of GDP, has hardly fallen over the past five years. Consumption props up growth figures--not a problem in itself, but worrying given that real wages, still 9% below their peak at the end of 2007, continue to fall. Debt-to-income ratios, which had been falling, are rising again. The country is borrowing its way to growth. Most troubling of all, investment has dropped in real terms by a quarter in five years, to just 13.5% of GDP in the first quarter of this year.
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