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Home Publications Blogs Beat the Press Rebound in the UK: Another Case of Incredibly Low Expectations

Rebound in the UK: Another Case of Incredibly Low Expectations

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Friday, 16 August 2013 05:33

The NYT ran a Reuters piece touting the UK's return to growth after enduring a prolonged period of recession and stagnation. It would have been worth mentioning that even on its current path, the UK will just be passing its 2008 level of output in 2014. Even with the return to growth, the IMF projects that per capita GDP in the UK will not pass its 2007 level until 2018.

uk-gdp-2013-08-btp

Source: International Monetary Fund.

Comments (3)Add Comment
Oh there you go again!
written by Mark Brucker, August 16, 2013 11:27
Intruding reality into Reuters' fantasy world.
Reuters and NYT?
written by David, August 16, 2013 1:49
I noticed yesterday that NYT ran a Reuter's piece about how the new numbers imply that the Fed is going to end QE for sure maybe probably now. Where do they get these people writing headlines/intro paragraphs. When you delve into the story and read the consulted experts' comments, they're prognostications aren't near as dire as the editor's. So now NYT editors are going to let Reuters' sensationalist and opinionated headlines run unquestioned?

Journalism is dead.
bubble v truth
written by pete, August 17, 2013 1:34
Why oh why do we continue to compare things to the unsustainable bubble? Krugman does this shifting the baseline thingy, but Dean is usually more honest. 2008 is clearly an outlier, still bubbling. Lets go back a few years before easy money made things silly.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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