UK Britain’s official emergence from recession at the end of last year may have been the week’s big economic news – but we at Recovery Watch had to whip out our microscopes to spot the upturn.
Lots of economists weighed in, saying growth was much stronger than the official numbers implied, and citing the surprisingly high rate of inflation that last week’s data revealed. Mervyn King, Bank of England governor, believed the latter phenomenon was temporary, but another member of the rate-setting monetary policy committee argued the economy was stronger than it looked and the committee needed to be on guard against the threat of rising inflation.
