Keywords
Citation
(2001), "RICS UK Economic Brief", Structural Survey, Vol. 19 No. 5. https://doi.org/10.1108/ss.2001.11019eab.003
Publisher
:Emerald Group Publishing Limited
Copyright © 2001, MCB UP Limited
RICS UK Economic Brief
RICS UK Economic Brief
Keywords: Economy, United Kingdom
The September RICS UK Economic Brief reports that economic activity is to slow further in the third quarter of 2001. The service sector showed more evidence of being hampered by the manufacturing recession, raising the probability that economic growth will weaken further. There are some signs that the tight labour market is close to turning point, though retail sales are still rising strongly. The global economic outlook was helped by signs of a recovery in US manufacturing, but the shock of a horrific terrorist attack across the Atlantic has dampened hopes of a near term economic recovery. Here in the UK economic uncertainty pushed commercial property yields higher, the construction activity defied the economic slowdown and the housing market remained firm on labour market strength and interest rate cuts.