US economy shows Britain the way in recovery race
Flying the flag: the figures relieved analysts with government stimulus to end
11 April 2012
The American economy raced ahead by 1.4 per cent in the fourth quarter of last year compared with Britain's anaemic 0.1 per cent growth rate, official figures showed tonight.
The figures reinforced just how weak the British economy is when compared with its peers.
Much of the US bounceback was as a result of businesses restocking rather than running down their inventories, as they have been doing during the recession. Stripping out the inventories drawdown effect, the figure was more like 0.5 per cent — but still well ahead of the UK.
"Wow! A great number. It's very solid and gives us a running start in the second half of this year when we can't rely on government stimulus," said Jack Ablin at Harris Private Bank in Chicago.
