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Forecast Summary
Publication year - 1984
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1984.tb00213.x
Subject(s) - economics , inflation (cosmology) , unemployment , productivity , medium term , unemployment rate , inflation rate , fiscal policy , slow growth , term (time) , monetary policy , monetary economics , macroeconomics , physics , theoretical physics , quantum mechanics
Output is expected lo grow steadily for the next four years, continuing the recovery which has been in progress since I981. The underlying rate of growth is forecast to slow down next year as the world economy also slows, though because of the miners' strike actual recorded growth next year will be higher than this. However, throughout the period output grows more rapidly than its historical trend. This growth is accompanied by steady increases in labour productivity, and unemployment is forecast to rise. With fiscal and monetary policy following the guidelines set by the Medium‐Term Financial Strategy, inflation stays at about its current level or falls slightly.