Sunday, January 26, 2014

UK economy expected to be confirmed as fastest growing in Europe

Figures due out in the next week are expected to show that Britain's economy remains the fastest-growing in Europe.

Economists expect the UK to have grown by 0.7pc in the three months to December, following growth of 0.8pc in the third quarter.

This represents an annual expansion of 2.8pc and equates to overall gross domestic product (GDP) growth in 2013 of 1.9pc – the strongest annual growth since 2007 - up from just 0.3pc in 2012.
 
Britain emerged as the fastest growing economy in Western Europe last year and Tuesday’s data are expected to confirm the UK grew four times faster than Germany, which expanded by 0.4pc in 2013.

More details here.

Britain still has a long way to go: we need to get back into budget surplus and stay there for a long time to deal with the disastrous levels of debt which were Labour's toxic legacy, and not enough of the growth has yet fed into people's incomes, but at least the economy is headed in the right direction.

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