The UK economy may be growing, but in a highly unbalanced way
by Phillip Inman from on (#VY47)
The services sector continues to outpace manufacturing, still suffering from export volatility, as people rush to borrow more
Every time the latest GDP figures appear, the Treasury would have us use the occasion to look at the sunny image of the economy in the round.
The third quarter data indeed confirms that the economy is on track to grow by 2.4% this year and many City economists have pencilled in 2.5% next year. Even the Office for Budget Responsibility (OBR), reckoned a cautious forecaster, has picked 2.4% as the most-likely growth rate.
Related: Weakening UK trade puts the brakes on GDP growth
Related: UK manufacturers fear bleak outlook as export orders tumble
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