November 4, 2012
Is the UK Really Back on Track?
Moorad Choudhry, CNBC
Last week we took cheer from the level of bank funding rates as being a sign of economic recovery – talk about crumbs of comfort! We needn’t have bothered: the U.K. quarterly gross domestic product (GDP) growth statistic was a jaw-dropping 1.00 percent rise on the second quarter. Hurrah! So everything’s all right then…