Thursday’s graph: the UK, a view from Madrid

International Financial Analysts AFI in Madrid added their opinion in agreement with more or less everyone else: the mix of relaxed  monetary policy, fiscal retrenchment and depreciation of the sterling pound that has been engineered in Downing Street by the Coalition government isn’t working. In fact, AFI said the UK’s is the economy with the weakest recovery response against the crisis among the main developed economies.

As the Bank of England remarked, though, this second quarter in negative field (-0.2pc in January to March 2012, after recording -0.3pc in the last three months of 2011) should be transitory, and the British GDP will start growing in summer. That is, if the construction sector does not ruin it for the rest of the system, as it has done this time.


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