Economic and Fiscal Outlook: November 2010
- Office for Budget Responsibility (OBR)
- TSO (The Stationery Office)
'Economic and Fiscal Outlook: November 2010 (Cm. 7979)' is the latest report from the Office for Budget Responsibility: an independent body, established to provide objective and authoritative analysis of the UK's public finances.
This report sets out the official economic and fiscal forecasts for the period to 2015-16, assessing whether the Government is on course to meet its medium-term fiscal objectives, and presenting preliminary observations on the long-run sustainability of the public finances.
Since the June forecast, the UK economy has recovered more substantially than initially expected. The gross domestic product (GDP) growth was greater than expected in both the second and third quarters, but employment levels have risen to heights that the June forecast did not anticipate until the middle of 2012.
In general the world economy has also grown stronger, whilst consumer price index (CPI) inflation has remained slightly higher than expected in June and public finances have performed as forecast. The interest rates on UK debt are lower than in June.
The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s.
This publication is divided into five chapters with two annexes.
|Format||Paperback||Published||29 Nov 2010|
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