The UK economy [July 2005]

The consensus forecasts for the main UK economic indicators taken from a monthly survey by HM Treasury of City and other independent forecasters are presented in Table 1. Real GDP growth was 3.2 per cent in 2004 and is forecast to be 2.5 per cent in 2005 and 2.4 per cent in 2006. Inflation (whether measured by CPI or by RPIX) remains on target and both are forecast to be close to target over the period