Sunday, 28 February 2010

America cheers over economy – but for how long?

The Times
"You might be forgiven for thinking that Americans are feeling just a little bit smug. As Britain teeters on the brink of dropping back into recession, the world’s biggest economy grew at an annual rate of 5.9 per cent, figures showed yesterday, revised upwards from the original figure of 5.7 per cent. ....But if America’s recovery is soggy, ours appears to be stillborn. Harnessed to our weakened financial service and property carthorses, we struggle to get momentum. The real recovery is in the Far East, but, unlike the US, Britain does little trade with those nations or even North America. Europe is our patch to till and, for now, the spring looks late indeed. "

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