Skip to content

HAIL BRITANIA! Britain declared fastest growing economy in developed world

7/25/2014 (3 years ago)
Catholic Online (

Britain ahead of the US, Germany, France, Canada, Japan and Italy by International Monetary Fund

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.

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.


Catholic Online (
7/25/2014 (3 years ago)

Published in Business & Economics

Keywords: Economy, UNited Kingdom, International Monetary Fund

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.

Live Catholic, Shop Catholic -- by going here --

"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."


'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'

Copyright 2018 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for FEBRUARY 2018
Say 'No' to Corruption.
That those who have material, political or spiritual power may resist any lure of corruption.


More Business & Economics

Stock market tumbles, is a recession on the way? Watch

Image of The stock market took a tumble yesterday but may recover today. Nobody is certain of what's next.

Global markets have dropped for the past few days, and just this morning have rebounded. It remains to be seen if the recovery is ... continue reading

Is free money a Christian solution to economic problems? Watch

Image of Is there a Christian solution to our economic problems?

The world is richer and more productive than ever before in history. Yet, income inequality is growing the poverty is on the rise. Middle ... continue reading

Income inequality - Here's why world poverty and hunger remain a problem, frustrating Pope Francis' efforts to solve the crisis Watch

Image of Pope Francis has spearheaded a campaign to end world hunger by 2020.

When Pope Francis accepted the chair of St. Peter, he pledged to end world hunger by 2020. By all appearances, it was an easy win. The math ... continue reading

Jobless claims historic low! - Why workers are getting raises this year, thanks to President Trump Watch

Image of Workers are finally being dealt back into the American Dream, thanks in part to President Trump's economic policies.

Say what you will about President Trump, but American workers are starting to "win" under his administration. Jobless claims have reached a ... continue reading

Retailers are feeling great again, but how about all those tired workers? Watch

Image of Amazon workers are being replaced by robots, but they aren't being laid off either. The growth of online retail means they can fill other roles, as the workload increases.

Early reports from the retail sector show that sales between November 1 and Christmas Eve were up 4.9 percent over last year. Workers ... continue reading

Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Learn about Catholic world

Catholic Online
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

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

School Teachers
Teacher lesson plans & resources

Support Free Education
Tax deductible support Free education

Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2018 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2018 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.