Growing UK Economy Poses Good Position for Cameron in Petersburg
Economy in Britain is getting the momentum back on a smooth rate, which in turn is leaving other European countries behind in terms of growth after the recession hit period.
This news is definitely a good sign for Britain, especially at a time when world leaders meet for G20 summit in St. Petersburg. Now David Cameron is in a good position to prove that in terms of economic performance, his country is capable of sharing the platform with the U. S.
However, Chancellor George Osborne has said that although, the economy in Britain is surging at a satisfactory rate, yet it is only the beginning of recovery and it should not be considered as the job done.
After the official data showed positive signs of the economy, senior ministers are feeling relieved and hopeful about the better economic revival.
As per the data, observing the current status, it is expected that Britain will be the best performing economy for this year among all the developed nations.
Economy in the UK is predicted to grow by 1.5% in this year, which is 0.7% more than the expectations issued earlier in May.
In the UK, factories are showing the biggest boom for the first time in last 20 years. Also, the sale of new cars rose by a remarkable 10.9% during last month. Thus, August has been reported as the 18th growth showing month in a row.
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