The Phaserl


Is the British Economy Finally Recovering?

by John Aziz, Azizonomics:

The British government would like us to believe that the British economy is finally recovering after a quarter of 0.6% real GDP growth, which if sustained over a full year would equate to 2.4% annualised real GDP growth.

David Cameron claimed:
Today’s economic growth figures are encouraging. We are on the right track – building an economy for hardworking people.

To accept this argument, one would have to make oneself entirely ignorant of the facts of the current economic situation. Here’s the British economy’s post-2008 real GDP growth, compared to the United States which has also experienced a relatively lukewarm, disappointing recovery:

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