With some use and interpretation of data on real GDP growth, inflation and unemployment, identify the main macroeconomic developments over the years 2000-2007,for UK. How far and why has the macroeconomic business environment changed during this period?

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UK economic growth for the period 2000-2007

The U .K economy is among the worlds largest and has been ranked fifth behind the US economy , Japan , Germany and China . The World Bank has also estimated UK 's people to be the twelfth richest in the world . Some of the major sectors which have contributed immensely to the growth of economy include industrial and allied , agriculture , mining manufacturing , the property market and its financial market which is one of the strongest market in the world (Bamford grant , 2000 .In looking at

its GDP growth for the east five years we can see that it has been growing steadily over the last seven years

UK GDP growth at current market price Source (Ingham , 2004

This growth in GDP is due to the relative growth in key sectors supporting the economy particularly the manufacturing sector and that of industrial and allied . The

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manufacturing industry in the year 2003 accounted for 16 of the country 's national output and furthermore contributed to 13 of employment according to statistics produced by the office of national statistics . This sector is also believed to have contributed to 83 of exports in the year 2003 therefore an important sector in for overseas trade and the economy as a whole . GDP grew by 2 .75 in year 2006 followed by a 3 .1 growth in year 2007 compared to 2006 the current growth in GDP has been caused by an increase in foreign direct investment in the...