{
  "title": "United Kingdom: 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom",
  "publication": "IMF Staff Country Reports, March 3, 2003",
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  "summary": "This 2002 Article IV Consultation highlights that the real GDP of the United Kingdom increased at an average rate of some 2.8 percent, and the unemployment rate halved to below 5 percent by April 2001. Inflation, which has been low since the mid-1990s, was—on a harmonized basis—about 1.",
  "sections": [
    {
      "heading": "Key economic findings",
      "content": "- Real GDP of the United Kingdom increased at an average rate of some 2.8 percent.\n- The unemployment rate halved to below 5 percent by April 2001.\n- Inflation—on a harmonized basis—was about 1.5 percent, below the European Union average.\n- Notwithstanding the global slowdown, the United Kingdom economy grew by 1.7 percent in 2002, driven mainly by buoyant private consumption and increased public spending.\n- Real output growth decelerated in 2002 but remained above that of other large European countries."
    },
    {
      "heading": "Growth and demand composition",
      "content": "- Aggregate growth:\n  - Average real GDP increase: some 2.8 percent.\n  - 2002 real GDP growth: 1.7 percent.\n- Demand drivers in 2002:\n  - Buoyant private consumption.\n  - Increased public spending.\n- Comparative performance:\n  - Despite deceleration, growth in 2002 remained above that of other large European countries."
    },
    {
      "heading": "Labor market",
      "content": "- Unemployment developments:\n  - Unemployment rate halved to below 5 percent by April 2001."
    },
    {
      "heading": "Prices and inflation",
      "content": "- Inflation developments:\n  - Harmonized inflation about 1.5 percent.\n  - Inflation was low since the mid-1990s and remained below the European Union average."
    },
    {
      "heading": "Report metadata (selected)",
      "content": "- Pages: 63\n- Volume: 2003\n- Issue: 048\n- Series: Country Report No. 2003/048\n- ISBN: 9781451814194\n- DOI: https://doi.org/10.5089/9781451814194.002\n\nUnited Kingdom: 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom, March 3, 2003\n\n---\n\n Content in this bundle\n\n- cr0348\n  - cr0348 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0348 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 3, 2003",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451814194.002",
    "Real GDP of the United Kingdom increased at an average rate of some 2.8 percent.",
    "The unemployment rate halved to below 5 percent by April 2001.",
    "Notwithstanding the global slowdown, the United Kingdom economy grew by 1.7 percent in 2002, driven mainly by buoyant private consumption and increased public spending.",
    "Real output growth decelerated in 2002 but remained above that of other large European countries.",
    "Aggregate growth:",
    "Demand drivers in 2002:",
    "Comparative performance:",
    "Unemployment developments:",
    "Pages: 63",
    "Volume: 2003",
    "Issue: 048",
    "Series: Country Report No. 2003/048",
    "ISBN: 9781451814194",
    "DOI: https://doi.org/10.5089/9781451814194.002",
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