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.