UK Economy Is The Best In Europe

The best economic performance for five years means the UK now leads the way in Europe, experts said last night. Britain stormed out of recession despite the slowdown in the global economy and the escalating crisis in the eurozone. Research group Capital Economics said the UK was the strongest performing major economy in the world between July and September – and it will outstrip the rest of Europe until at least 2015.

Capital Economics predicted outright recession across the eurozone in the coming months, with Germany not recovering until early 2014 and France, Italy and Spain not recovering until 2015 at the earliest.
Samuel Tombs, an economist at Capital Economics, said: 'The latest GDP figures suggest that the UK economy is emerging from recession at the same time that the eurozone is entering one.
And there are still a number of constraints that will mean that the economy struggles to grow at all in the coming quarters.’

It marks a significant turnaround for Britain which was among the first of the major economies to suffer a double-dip recession following the fragile recovery from the banking crash four years ago.
The Capital Economics report warned that Britain faces another quarter of decline – with output sinking 0.4 per cent in the final three months of this year.

But the economy is expected to bounce back in the first quarter of next year – avoiding a dreaded triple-dip recession while the rest of Europe sinks deeper into the mire.

The latest forecasts from the International Monetary Fund also suggest Britain will be the strongest economy in Europe next year – although it will fail to keep up with the US.