In order to break the cycle of poverty, we must first start with the heart. Catholic Online School is something very special, providing FREE Catholic Education to anyone, anywhere. Learn more about the Catholic Online School
Help us create new hope with your donation. This year, please consider making a donation of $5, $20, $50 or whatever you can to support Catholic Online School. Support Catholic Online School
HAIL BRITANIA! Britain declared fastest growing economy in developed world
There will always be an England, as the old song goes. While the United Kingdom has experienced highs and lows, it's always recovered - and prospered. This was born out by the recent news that Britain will be the best performing major economy in the developed world this year. Not only that, but it will grow at nearly twice the pace of the U.S.
Britain is now "in the fast lane of recovery' following the deepest slump in post-war history when the economy crashed by 7.2 percent under Labor.
LOS ANGELES, CA (Catholic Online) - Global financial watchdog the International Monetary Fund said it expects output in the U.K. to rise by 3.2 percent in 2014. Rival economies, in contrast, such as the U.S., Germany and France trailing in its wake.
The IMF said Britain had delivered one of the few "upside surprises" so far this year and warned that the global outlook has deteriorated.
"Increased geopolitical risks," both in Ukraine and the Middle East "could lead to sharply higher oil prices" as it slashed its forecasts for Russia.
Ministers said Britain is now "in the fast lane of recovery' following the deepest slump in post-war history when the economy crashed by 7.2 percent under Labor.
Official figures published today look set to show that the U.K. is now producing more than it was before the recession struck, which has brought the longest downturn on record to an end.
The Office for National Statistics is expected to announce that gross domestic product increased by around 0.8 percent between April and June.
An economist at Capital Economics, Paul Hollingsworth, said it "would mark another milestone for the recovery."
The latest forecasts from the IMF are another victory for George Osborne, who only 15 months ago was accused by its chief economist of "playing with fir"' by pressing ahead with austerity.
In response, the Fund has since admitted it was "too pessimistic" about the U.K. and upgraded its forecasts for 2014 four times in the last nine months.
This time last year it was predicting annual growth of only 1.5 percent, less than half of what it now expects - and as recently as April penciled in 2.9 percent.
"The IMF has upgraded their 2014 forecast for the UK by more than any other major economy," the Chancellor said.
"The Government's long-term economic plan is working. But the job is not yet done and so we will go on making the assessment of what needs to be done to secure a brighter economic future."
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed. That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.
Is now the time to sell on Wall Street? Stocks are on a bubble, according to multiple analysis and expert opinions. Fundamental market ... continue reading
The economy is about to go into recession according to several Wall Street firms. They are warning investors to prepare for an end to the ... continue reading
Get ready for self checkout everywhere: 3.5 million retail cashiers are about to be replaced by automation Watch
Automation is coming soon to a store near you as retailers look for ways to cut costs and improve profits. The best way to accomplish this ... continue reading
The highly relevant quote, "Budgets are moral documents," has been arguably attributed to Rev. Martin Luther King, Jr. But if he didn't ... continue reading
A group of central bankers has warned that a great recession, possibly larger than the 2007-2008 recession is looming on a global scale. ... continue reading
by Catholic Online
- Pope Francis says you need to go to Mass!
- Alveda King, niece of Dr. Martin Luther King, Jr., meets with Pope ...
- Daily Reading for Sunday, December 17th, 2017 HD Video
- St. Mary Di Rosa: Saint of the Day for Friday, December 15, 2017
- Daily Readings for Friday, December 15, 2017
- Daily Reading for Saturday, December 16th, 2017 HD Video
- The world's suffering little ones - don't forget them this Christmas
- The Net Neutrality Scam: Get ready to pay a lot more for a lot less HD
- Could it be an alien spacecraft? Scientists listening today for signals from strange object HD
- Daily Reading for Friday, December 15th, 2017 HD
- Is Facebook ripping apart human civilization? HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way