There's comfort in the GDP figures – but it's strictly early days

Photo of There's comfort in the GDP figures – but it's strictly early days
Facebook
VKontakte
share_fav

Philip Hammond’s response to the data shows that he also knows it is too soon to take a ‘steady as she goes’ approach

Philip Hammond took comfort from the latest GDP figures – and well he might. When the chancellor moved into No 11 there was still the possibility that doom-and-gloom forecasts by the International Monetary Fund and even the Treasury itself would come to pass.

That Britain has avoided a recession and, more than that, maintained an annual growth rate of around 2% is a testament to the resilience of an economy that has grown solidly for the last three years and surpassed all other G7 countries this year.

Related: No 10 denies 'sweetheart deal' with Nissan

Continue reading...
view The Guardian: Economics
#eu referendum and brexit
#nissan
#renault
#insurance
#automotive industry
#manufacturing sector
#barclays
#lloyds banking group
#payment protection insurance
#wto