* The front cover of this week's Economist magazine is
entitled, "Heading out of the storm: better news for the UK
economy". The Economist goes on to say that, "The British
economy is coming out of recession, and is stronger than almost
everyone believes".
* Such claims are perhaps less surprising than they appear. All
37 independent forecasting groups which provide GDP forecasts to
the Treasury expect UK growth to bounce back in 2013. Most believe
that the UK's double dip recession is drawing to an end and
that growth will resume in the first quarter of next year.
* The crux of the Economist's argument is that the UK
consumer, having suffered a terrific battering in the last 4 years
is turning the corner. The majority of economists take the same
view, and with good reason.
