SUMMER ECONOMIC FORECAST 1996

The 1975 Industry Act requires the Government to publish two economic forecasts a year. Forecasts are published in the summer and in the Budget in November. This is the third Summer Economic Forecast. It covers the period to the end of 1997; to the end of 1998 for the public finances.

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CONTENTS

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SUMMARY

CHAPTER 1 - THE ECONOMY: RECENT DEVELOPMENTS AND PROSPECTS

• World economy
• Output and demand
• Personal sector and the housing market
• Corporate sector and investment
• Trade and the balance of payments
• Pattern of financial balances
• Labour market
• Financial developments
• Inflation
• Risks and uncertainties
• The Panel of Independent Forecasters
• Annex: the Panel of Independent Forecasters

CHAPTER 2 - PUBLIC FINANCES

• Public finances
• Annex: Supplementary analyses of 1995-96 and 1996-97

List of abbreviations

Data sources and definitions