DO LAST week’s GDP figures create a case for optimism about the economy? At face value, no. The first quarter rise in GDP was just 0.3 per cent – an annual rate of growth of 1.2 per cent. Over the past year, the UK has grown by just 0.6 per cent. This is far from satisfactory at first sight – and well short of the 3 per cent or so growth we enjoyed before the financial crisis.
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