IMF Increases UK Growth Forecast Again

IMF Increases UK Growth Forecast Again.

The International Monetary Fund (IMF) has again revised up its UK Growth forecast for 2014 and 2015.  Again, reaffirming that the UK will be the fastest growing economy within the largest G7 economically developed nations.

Overall, globally economic growth is predicted by the IMF to rise by 3.6% in 2014 and 3.9% in 2015.

The IMF’s UK growth forecasts are much in line with the UK’s Office for Budget Responsibility (OBR), suggesting that the UK will grow by 2.9% in 2014 and 2.5% in 2015.  This being an increase by 0.4% from 2.5% to 2.9% for 2014, which the IMF forecast back in January.

Comment

The UK economy is growing faster than most commentators expected and whilst we are happy for sustained growth, we should forget that the UK also suffered the largest recession, so we are coming from further behind.

We fear though for a return to ‘boom bust’ economics.