House Prices Could Affect Economic Recovery

The video discusses the unexpected growth in the UK economy, particularly in the housing market, with 34 houses sold in Greater Manchester before being listed. The IMF had underestimated this growth and now urges caution in the housing market. The service sector has been pivotal in the economic recovery, but there's a need to focus on other sectors for sustainable growth. Local developments, like the DP World port, are boosting businesses, yet concerns remain about insufficient exports. The video highlights the balance needed between economic growth and potential risks.

What was the IMF's stance on the UK's economic growth a year ago?

• They thought it would remain stable.

• They underestimated its potential.

• They believed it would grow rapidly.

• They expected a decline.

What percentage of Britain's economic output is attributed to the service sector?

• 50%

• 70%

• 80%

• 60%

Why is it important for the UK to focus on sectors beyond the service industry?

• To reduce unemployment.

• To ensure long-term sustainable prosperity.

• To increase consumer spending.

• To decrease inflation.

What is the significance of the DP World port in the Thames Estuary?

• It reduces housing prices.

• It enhances the UK's international trade competitiveness.

• It increases local tourism.

• It provides more jobs in the service sector.

What concern remains despite the economic improvements in the UK?

• Decreasing consumer confidence.

• High unemployment rates.

• Insufficient export of British goods.

• Rising inflation.