Not Much Of A Recovery In Britain

Contrary to the predictions of Keynesian economists that the U.K. would have a stronger recovery than for example the euro area due to its more Keynesian policies with a larger budget deficit, lower interest rates and a weaker currency, Britain's economy remains one of the weakest in Europe, with GDP rising just 0.1% in the fourth quarter compared to the previous quarter, according to preliminary numbers. Compared to the fourth quarter of 2008, GDP was down 3.2% and compared to the peak level of output in the first quarter of 2008, GDP is down 6%.