UK Fastest Growing Economy

UK Fastest Growing Economy.

Figures released by in a joint report by Grant Thornton and the Institute of Chartered Accounts of England and Wales (ICAEW) suggest that the UK’s economy is currently growing fastest of the developed Western Nations.

Mixed projections have come from various groups including the CBI and the Office for National Statistics, but all appear to offer similar growth levels.

The GT/ICAEW report suggests 1.3% growth for this time next year, with the CBI suggesting 1.4%.

The reality is that all are suggesting growth between 1.2% and 1.4% and the trend is set to grow even faster into 2015 with 2.0%+ growth.

Comments

These are strong growth projections and we suggest over the periods stock markets will grow, but there will be hiccups on the way.  The US debt position is still not resolved and the seemingly constant quarterly battle between Democrats and Republicans over the US debt ceiling will rear its ugly head next month.

Whilst the UK is in recovery, we are coming from quite far behind so the recovery is not that remarkable.  Markets will still continue to be affected by external influencers despite slow but steady economic growth.