UK’s economic growth slowed by nearly a quarter since 2014

[Image: Getty Images.]

The BBC has tried to hide it, but the UK economy is slowing down, with growth down 0.7 per cent compared with 2014.

Apparently it still makes us one of the fastest-growing developed nations. Have you felt the benefit? Or is it confined to those people in the top decile of earners, whose salaries magically double the national average wage?

There has been no “march of the makers”, as George Osborne so alliteratively described what he wanted in 2011. Perhaps he and his fellow Tories should have been a little less keen to sell off or close our manufacturing industries over the last 40 years.

We’re going to have to face the fact that UK industrial output won’t improve until we have a government that understands the value of industry, rather than one that favours the financiers in the City of London.

Osborne and his friends are trying to make sure that never happens, of course.

The UK economy grew by 0.5% in the three months to the end of December, official figures show, taking the annual rate of growth for 2015 to 2.2%.

The Office for National Statistics show an improvement on the third quarter figure of 0.4%.

But the 2.2% annual growth in 2015 was down compared with 2.9% in 2014.

Output in the three months to December was 1.9% higher than a year earlier, down from 2.1% in the third quarter and the smallest increase since early 2013.

Source: UK economy grows 0.5% in fourth quarter – BBC News

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3 thoughts on “UK’s economic growth slowed by nearly a quarter since 2014

  1. mohandeer

    This is really odd, because in the first or second quarter, a study comparing economic growth across Europe in 2015 showed that those countries who had opted against austerity were managing better growth than those who had. It showed the UK as approximately 13th or 14th in the findings, lower than some scandinavian countries, Denmark, Iceland and a few slavic countries. The study used figures provided and published by the OSC and IMF and the OBS(which had once again missed it’s forecasts by a large margin). Given that we were, before the coalition took over governance, the fourth largest economy in the world let alone in Europe, and we were lagging behind a dozen EU member states, how can we be “one of the fastest growing developed nations?

  2. Terry Davies

    they are consistently lying about the economy because they dont control it.
    Cameron, Osborne and tories follow blindly the USA model. they jump when told to jump and the only question they ask is how high?,?
    USA want UK to stay in the EU which is why Cameron is frantically rushing to negotiate their interests. also explains why Cameron has not given a date for the EU referendum.
    He cant do so until his political masters authorise him to do so.
    However even the USA must realise he is not an effective voice in europe.

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