UNITED KINGDOM

摘要

Last year's 2.6% GDP growth rate looks set to make the UK the fastest growing economy amongst the G7 countries, recording its biggest expansion since 2007. Spill-over effects from the struggling Euro zone economies have, as yet, failed to derail the resurgence that is projected to result in a similar 2.7% rise in GDP in 2015. Nevertheless, hints of a slight loss of steam have increased as the economy grew by a more modest 0.5% (q-o-q) in Q4, its slowest quarterly rise since Q1 2013. Chancellor George Osborne reaffirmed his view that the economy remains 'on track'. Yet the flagging global economic climate poses many risks, whilst a period of instability could follow the general election in May. The Q4 GDPbreakdown emphasises the ongoing imbalance in growth drivers. A 0.8% (q-o-q) surge in the services sector offset the lacklustre decline in construction output and a mere 0.1 % rise in overall production. Manufacturing production inched up 0.1% (q-o-q) and is tipped to expand by 2% in 2015. After December's slowdown, the services PMI advanced to 57.2 in January, boosted by lower operating costs and new business.