UK Overview

摘要

Following subdued growth of just 1.8% in 2005, UK GDP is expected to rise by a relatively modest 2.2% in 2006, below the long-term trend rate of 2(1/2)%. While economic fundamentals are far from weak, neither are they supportive of a strong bounce back in demand. The service sector will continue to be the main driver of growth as manufacturing output is likely to be stagnant at best, with expected growth of just 0.4%. High energy and raw material prices but subdued orders continue to impact on industrial sentiment. But manufacturing output is expected to recover towards the end of 2006, as external demand picks up on the back of stronger Eurozone growth.