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Newz Chooze

Growth in the UK has been modest for a decade despite the colossal amount of stimulus No chancellor can resist the idea of a good photo opportunity and Philip Hammond chose a brewery to mark the release of Britain’s latest growth figures. As he pulled a pint for the cameras, the chancellor’s message was that the strongest expansion in almost two years was proof of the underlying health of the economy. It was no such thing. This was a glass mainly full of froth. On the face of it, the economy has been picking up speed throughout 2018. Growth was 0.1% in the first quarter, 0.4% in the second quarter and has now hit 0.6% in the third quarter. But what actually happened was that bad weather in the first few months of the year artificially depressed activity and this weakness has been followed by a period of catch-up, especially in the construction sector. Continue reading...