The UK economy hit the bottom of the recession two and a half years ago, i.e 10 quarters ago. During the first four quarters, the economy recaptured about 3 percentage points of lost GDP. Thereafter, the recovery stalled.
Reasons? The crisis in Europe has dragged the UK economy down
What is that phrase the Euro-centralizers use? Ah yes, "ever closer union". We have tied ourselves to a corpse.
2 comments:
A very Anglocentric view. Some in Europe might view the UK as a corpse too. Where will the growth in the UK come from? Growth cannot be expected from the 50% of the economy which relies on govt spending. The financial service sector is stalled for very good reasons and likely to remain so. The rest of the service sector might expand giving us more fast food outlets for example but I doubt it. Only manufacturing can offer us real expansion and it is starting from a very small base these days. In any case it is hampered by an increasingly poorly educated workforce and punitive taxation. So UK growth is going to be very unlikely.
Thanks so much for this post. You've shared so much insight and information that is greatly appreciated.The financial service sector is stalled for very good reasons and likely to remain so. The rest of the service sector might expand giving us more fast food outlets for example but I doubt it. Only manufacturing can offer us real expansion and it is starting from a very small base these days.
Ciaran Maguire Group
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