A few months’-worth of good data do not a recovery make. However, better-than-expected news since the turn of the year has given Bank of England’s economists cause for optimism, which they duly factored into the latest growth forecasts.
Not so their counterparts at the European Commission.
While the Monetary Policy Committee has raised its 2012 growth estimates in recent months amid signs of a nascent recovery, in a more-or-less uniformly grim forecast of the economic outlook for Europe, the Commission on Thursday left its estimate for the UK, last recorded in November, at 0.6 per cent. Read more