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EUROPE: "Automobile Assembly & Engine Production Plants in Europe - by Manufacturer"

EUROPE: "Automobile Assembly & Engine Production Plants in Europe - by Manufacturer". 5-page chart "Overview by Manufacturer" by ACEA.

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back to index backEUROtalk March,  2016


UK Economic Outlook - March 2016

How secure is the recovery?

Highlights

- The UK recovery since mid-2009 has been relatively slow by historical standards, but still faster than most other G7 economies over this period.

- UK GDP growth slowed a little in 2015, but consumer spending growth remains relatively strong, helped by lower oil prices. The global outlook remains mixed with a gradual pick-up in the US and the Eurozone, but a slowdown in China, continued recessions in Russia and Brazil, and increased volatility in financial markets.

- In our main scenario we expect UK GDP growth to average just over 2% in 2016. Consumer spending will be the main driver of UK growth this year, helped by continued low energy and food prices.

- Risks to growth are weighted to the downside in the short term due to international risks, particularly in relation to emerging markets, as well as uncertainties relating to the EU referendum. But there are also upside possibilities if the global environment improves and productivity growth rates accelerate in the UK.

- London continues to lead the recovery with projected growth of around 3% in 2016 but all other UK regions should also register positive real growth of around 1.4-2.3% per annum this year.

- Inflation will remain low this year, but could rise back towards its 2% target by the end of 2017, so the MPC may start to raise interest rates gradually during the course of 2017 and beyond. But this now seems likely to be a very slow process and rates could still be only around 2% in 2020.

- The Budget is likely to confirm plans for further fiscal tightening to eliminate the budget deficit before the end of this decade. This will impose some drag on the UK economy, but the private services sector should be strong enough to offset this in terms of GDP and jobs growth.

To download 40-page report, please click here.

Source: PwC UK - GAI





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