This week official data will confirm the status of Britain’s recovery. Many expect an annualised growth rate of above 2% – close to its pre-crisis level and far better than most euro zone economies. But Britain still faces big risks, both at home and abroad. We are inviting experts in the field to comment on the recovery. Kevin Daly, UK economist for Goldman Sachs, is first up.
BRTIAIN’S economic growth improved markedly in the first half of the 2013. Having been flat through much of 2012, output rose by +0.3%qoq (+1.2%qoq annualised) in the first quarter and the consensus expectation is that it rose by +0.6%qoq in Q2 (the ONS’s preliminary estimate of Q2 GDP is released on July 25).
UK GDP data tend to be volatile from quarter to quarter and are prone to significant revision over time. But the improvement witnessed in the official data is also evident… Continue reading
This article has been curated from BoE guidance can help sustain the UK recovery