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Examine the implications of the UK experiencing stable output Financial Update 13/14 Output Gap - Essay Example

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There have been extensive debates in academic literature regarding short-term volatility of output on long-term economic growth. A considerable part of these…
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Examine the implications of the UK experiencing stable output Financial Update 13/14 Output Gap
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Examine the implications of the UK experiencing stable output Financial Update 13/14 Output Gap

Download file to see previous pages... The recovery of UK from the recent global crisis has been considerably slower compared to its previous recoveries (Pitlik, 2012). The purpose of this paper is to analyze the pattern of output growth and the level of inflation of U.K. and its implications in the long run.
Ever since the global financial crisis has weakened the output growth of the economy, the trajectory of output growth has been quite weak. Since 2010, output growth of U.K. has been a meagre 1.1%. The reason that can be attributed for low growth in output relates to shortfall in three sectors of the economy, namely manufacturing, oil and gas extraction and construction sector (Goodwin, 2013). However, this fall in the level of output has been compensated to some extent by rise in the level of production in the service sector and its output has nearly touched the pre-crisis mark. Though these figures indicate a positive recovery, yet economic outlook of a nation can be comprehended with the help of output gap of an economy. Output gap of a nation relates to the difference between actual levels of output and the potential output of a nation, which in turn should be consistent with overall inflationary pressure on the economy. The year 2012 was particularly harsh on the U.K. economy because of weak recovery of the trade sector. Nonetheless, the domestic economy had shown improvement through increase in level of consumption spending and level of investment (Economic Secretary, 2013). The following graph shows the level of GDP growth over the last seven years.
Capital Stock: The research conducted by various government organizations and independent researchers suggest that fall in the capital stock due to perverse business environment has been one of the permanent damages that has been inflicted upon the economy. According to the research of IFS, 2013, investment in the ...Download file to see next pagesRead More
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