UK economic statistics have recently undergone significant revisions, but they do not change the
That being ‘the turnaround of the UK economy remains the weakest in the past century while the UK’s large productivity puzzle persists and, notwithstanding the gradual accumulation of an evidence base, remains largely unsolved.’ As suggested by the National institute of Economic & Social Research.
It is further proposed by the National Institute that the key risk to the progress of the recovery is productivity growth: ‘should this fail to recover as we expect, the impact on both living standards and public finances will be significant.’
Externally, the generalised weakness of the global recovery and, in particular, continued stagnation (or worse) in the Euro area, are obviously significant risks for the UK economy.
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