Great Britain: From Keynes to Thatcher and back?

The British economy has weathered the world economic weakening relatively well, the real gross domestic product having increased in 2002 by around 1.8%. The unemployment rate at 5.1% for the year is only slightly higher than in 2001. Consumer prices were around 1.3% above the level of the previous year. In 2003, the real gross domestic product should grow by around 1¾%. The unemployment rate should stand at 5¼% for the year and consumer prices will increase by around 1½%. In 2004 GDP will increase by around 2¼%. The unemployment rate will sink to 5% and inflation will stand at 1½%.