IMF ranks Britain the fastest-growing major economy last year

The International Monetary Fund issued their latest growth estimates and projections this week, which continue to show Britain as the fastest-growing major economy in the developed world in 2014.

They have revised their estimate of the rate at which Britain's economy grew in 2014 down from 3.2% to 2.6% but this is still better than any other major developed world economy, a little bit ahead of the USA and well ahead of the Eurozone, where slow growth remains a concern.

The IMF continues to project growth of 2.7% for Britain in 2015, which is at the upper end of the range of sustainable growth attained by this country since World War II.

Chancellor George Osborne said today's IMF forecast showed Britain was pulling ahead, while global growth was being downgraded.
 
‘There's confirmation that we grew faster than any other major economy last year, and we're set to grow faster this year.
 
‘But there are risks out there in the global economy. It's a timely reminder of that and we've got to go on working through our long-term economic plan if we want to stay ahead,’ he said.

Details of the IMF report can be found online in press reports such as the one here.

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