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Methinkshe

Oecd Report For Uk

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Just caught a snatch of conversation concerning this report on R Five Live. Talking about outlook for UK Housing Market. Have tried to find report on OECD website but can't. The gist of the conversation was that there have been some fundamental changes in the UK economy and housing market as a result of financial turmoil and the outlook for UK plc ain't as rosy as was formerly predicted.

Perhaps a more competent Internet practitioner can find the report.

Edited by Methinkshe

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OECD link via The Times HERE.

Thanks. Got through to OECD website but couldn't find the relevant part, There's a link for economic surveys which, when you get there, says that the next UK economic survey is due to be published 27th September - but it isn't there. I think that may be where they talk about housing market. Perhaps it has not yet been uploaded.

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Thanks. Got through to OECD website but couldn't find the relevant part, There's a link for economic surveys which, when you get there, says that the next UK economic survey is due to be published 27th September - but it isn't there. I think that may be where they talk about housing market. Perhaps it has not yet been uploaded.

I think you have to pay for the full report. There appears to be a summary here: http://www.oecd.org/dataoecd/49/34/39384976.pdf

That is, if we are talking about the same thing.

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I think you have to pay for the full report. There appears to be a summary here: http://www.oecd.org/dataoecd/49/34/39384976.pdf

That is, if we are talking about the same thing.

The following is the only paragraph that I could find that mentions the housing market.

"Despite buoyant activity in recent years, strong inward migration has contributed to an easing in labour market tightness. Although the unemployment rate has crept up over the past two years, particularly among young unskilled school-leavers, it is still relatively low at around 5½ per cent. Consumer price inflation temporarily spiked to just above 3% earlier this year, partly because of unusually large increases in electricity and gas prices, but has since dropped back to just under 2%. Looking ahead, the interest rate increases over the last year, together with recent financial market volatility, are expected to slow the housing market. Prior to the recent financial market turmoil the OECD projected growth of 2¾ per cent this year and 2½ per cent next year, with inflation remaining close to the 2% target. However, although indicators of economic activity have been robust in 2007 to date, there is now a risk that growth will be weaker going forward, which could imply a need for interest rate reductions. A slowing in growth, together with reduced profitability in the City, could also reduce tax revenues and imply a rise in the budget deficit, which is still relatively high by international comparison."

Judging by the tail end of the conversation I picked up on Radio Five, one would have thought that the OECD had a lot more to say about the Housing Market than that. Perhaps it was because the person being interviewed was herself from the OECD and was elaborating. Ah, well....

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