Wednesday, July 27, 2011

Weak growth pressures UK government


The British economy barely grew between April and June.As industrial output shrank, GDP expanded by just 0.2 percent from the first three months of the year. That took the annual growth rate to 0.7 percentThe figures cast doubt on the government’s ability to cut the budget deficit with austerity measures.Finance minister George Osborne blamed temporary factors — like lost productivity due to the Royal Wedding — and insists the UK is doing better than many others: “There’s enormous instability in the euro area, there’s a big argument in the United States at the moment about debt and here in Britain we’ve got a plan that has provided stability in a very unstable world and has brought our interest rates down and, you know, that has helped the economy grow.”

1 comment:

  1. will they "print"? efsf to bail all distressed euro countries, will eu be forced to print? signs china topping and US..will they print again? a deflation and big scare then a printing to save us coming? if banks fail the whole world fails, economy's held up by stimulus in different forms, jobs and corp profits dependent on gov spending even deficit spending? doesn't seem healthy. now back to shoots and an


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