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UK growth highest in Europe for 2012
27/01/2012
The International Monetary Fund (IMF) latest forecasts show the UK is the best performing major economy in Europe this year and will grow by 0.6 per cent in 2012, much weaker than originally thought but better than the 0.5 per cent reduction expected in the Eurozone.
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Other European countries are also set to grow, Germany by 0.3 per cent, France by 0.2 per cent whereas Spain and Italy look to another few years of deep recession, the IMF predict. These forecasts were leaked prior to them going to publication in the World Economic Output Report, it also warns that global recovery is at risk “by the growing tensions in the euro area.”
Chief European economist, Jonathan Loynes said: “2012 looks like crunch-year for the Eurozone. Either policymakers will finally deliver the much-promised bazooka or the currency union could cease to exist in its current form. We think the latter is more likely.”
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Even though we are slightly higher than other European countries in our growth, we are still behind in comparison to the US, who’s predicted growth for 2012 is 1.8 per cent, 8.2 per cent for China and 7 per cent for India, showing a much better rate of growth compared to the UK’s at 0.6 per cent.
The IMF has lowered its estimate for global growth for 2012 from 4 per cent to 3.3 per cent. The Treasury have decided not to comment on this leaked information.
Use our Right Equity Release Calculator and see how much equity you could release.
The International Monetary Fund latest forecasts show the UK is the best performing major economy in Europe this year and will grow by 0.6 per cent in 2012, much weaker than originally thought but better than the 0.5 per cent reduction expected in the Eurozone.
Why not increase the forecasts in your own, release equity in your home and increase your retirement income. The Right Equity Release can arrange a free no obligation meeting or simply contact us by clicking here.
Other European countries are also set to grow, Germany by 0.3 per cent, France by 0.2 per cent whereas Spain and Italy look to another few years of deep recession, the IMF predict. These forecasts were leaked prior to them going to publication in the World Economic Output Report, it also warns that global recovery is at risk “by the growing tensions in the euro area.”
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